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Is Stellar Lumens (XLM) rising on strong fundamentals?
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The news flow around Stellar lumens (XLM) continues. It is trying to make inroads in the retail and banking remittances market. In the past year, it has also tied up with quite a few companies to increase the usage of its blockchain. It seems like the results are finally showing in for the Stellar lumens (XLM) investors. When you look at the performance of stellar lumens (XLM) in the past seven days, it has been pretty good. The question is whether it is moving on fundamentals or whether it is just momentum play. The problem with momentum play is that it can reverse anytime.

Is Stellar Lumens (XLM) rising on strong fundamentals?

In the last seven days, Stellar lumens has moved from $ 0.0832 up to $ 0.0984. It indicates that in a matter of just seven days, it has already risen by 18%. During this time, most of the other cryptocurrencies have not clocked such gains. It indicates that it is performing better than some of the other cryptocurrencies. That is why for investors, it is important to understand whether it is a momentum play or whether it is a result of the improving fundamentals of stellar lumens (XLM).

Recently, a financial media house in Germany by the name of Börsenmedien AG acquired a crypto start-up. The crypto start-up was SatoshiPay. The start-up enabled micropayments for its users. It was using stellar blockchain among others. The stellar blockchain was earlier leveraged for paying the publishers. The readers can quickly initiate the payments to incentivize the publishers. According to the stellar development foundation, it also will provide free credits to the new users. As a result, users can easily pay the content creators. After this news came out, Stellar lumens (XLM) rose further. It was unveiled on March 7th.

Stellar lumens (XLM) was rising prior that as well. It indicates that it is not just growing because of this news but also is in the general uptrend. In the past 24 hours, it might have given up some of those gains but still, is up by 18% for the week. It indicates that Stellar lumens might finally be benefiting from the improving fundamentals. 

However, it is still below the $ 2 bn market cap club. It dashed it and even reached a market cap of $ 1.948 billion, but in the past 24 hours, it has given up some of its gains. That is why the market cap currently is $ 1.89 billion. However, with the improving fundamentals, it is expected that in this very year, it will be able to cross that market cap threshold.

While the increasing traction on the blockchain might be at a later event but it seems like Stellar lumens (XLM) is benefiting the investors in advance. The improving fundamentals are on the cards, but Stellar lumens (XLM) is making a move ahead of those developments. For the existing investors it is good news whereas if you’re planning to invest in Stellar lumens (XLM), it is time to be cautious.

by Manish

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