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All major cryptocurrencies are losing their value this trading week
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If Stellar’s price falls below $ 0.150, it would be a strong “sell” signal
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Germany’s oldest banks announced that it would launch the EURB fixedcoin on the Stellar network
All major cryptocurrencies are losing value this trading week, and the Stellar (XLM) price is also under pressure. Bitcoin is trading again below the $ 18000 level, indicating that the price could weaken even more.
Basic analysis: Germany’s oldest banks announced that it would launch the EURB stablecoin on the Stellar network
The stellar price is down more than 20% since the beginning of December, and the current price is around $ 0.156. The price of Bitcoin is trading again below the $ 18000 level, and some analysts say the cryptocurrency market is not even close to bottom.
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According to the latest news, one of Germany’s oldest banks announced that it would launch EURB fixedcoin on the Stellar network. The stableUR EURB is the first stablecoin issued directly by a banking institution on Stellar, and this is undoubtedly positive news for this network.
“We are delighted to announce that Bitbond and Bankhaus von der Heydt are now announcing Euro Stablecoin (EURB), the first stablecoin issued directly by a banking organization on Stellar. Stellar’s high quality, bank-announced euro asset is meaningful to our users and builders on our network, powering a new wave of financial innovation, driven immediately by Stellar-based apps, ” said Denelle Dixon, CEO and Executive Director of the Stellar Development Institute.
Stellar has its own cryptocurrency called Lumens ($ XLM) and operates as a not-for-profit entity. For this reason, organizations and individuals are not charged for network transactions.
The stellar platform can be the future of banking, and it’s also important to say that Stellar has many advantages over Bitcoin. Bitcoin transaction confirmation can take many minutes with high transaction costs, while Stellar transactions are confirmed within seconds at very low costs.
Stellar avoids the costly mining process using the efficient Stellar Consensus Protocol and, therefore, no incentives to slow down the network to charge fees and other conflicts of interest. Despite this, there is still a level of uncertainty surrounding this project and there are clear risks with the purchase of Stellar (XLM) in December.
Technical analysis: A stellar price could weaken even more in December
The stellar price has weakened from $ 0.20 below $ 0.14 in less than two weeks, and the current price is around $ 0.156.
Current resistance levels are $ 0.170, $ 0.175, and $ 0.180; $ 0.150 and $ 0.140 represent current support levels. If the price jumps above $ 0.170, it would be a Stellar (XLM) buy signal, and we have the open road to $ 0.180.
On the other side, if the price falls below $ 0.150, it would be a solid “sell” signal, and we have the open road to $ 0.140.
Summary
All major cryptocurrencies are losing value this trading week, and the Stellar (XLM) price is also under pressure. According to the latest news, one of Germany’s oldest banks announced that it will launch EURB fixedcoin on the Stellar network. If the price falls below $ 0.150, it would be a solid “sell” signal, and we have the open road to $ 0.140.