Stellar Lumens has jumped by 1.4 per cent in today’s trading session, despite being in an aggressive downward trend that resulted in a 25 per cent price drop in April. Today’s price gain is also a continuation of a bullish trend which started this month that has seen prices rise by almost 4 per cent in the last three days.
Despite the April hiccups that have resulted in a quarter of its price being wiped out, Stellar Lumens still remains one of the most innovative projects. In April, they released their quarterly reports showcasing some of the developments they have accomplished during that time.
Some of these accomplishments included Project Jump Cannon. The project will introduce native on-chain smart contracts to Stellar. Though the project is still in its initial research phases, there is a high likelihood of it being very impactful in the future of Stellar Lumens. The platform also introduced Starbridge. This will be a trust-minimized integration between Stellar and Ethereum.
The report also included funding of $1.5 million in the form of four Marching Fund Investments and 92.5 million distributed in overall enterprise fund investment. They also celebrated one year anniversary of USDC on the Stellar network. The addition has been a game-changer for so many builders on the platform, allowing them to have Stellar with USDC capabilities. The integration is a net positive for the platform and has likely contributed to the project’s milestones in the past few months.
Stellar Lumens Price Prediction
Stellar Lumens is still in a strong bearish move. This is despite having a 1.4 per cent price gain in today’s trading session. Looking at the past few weeks’ price action, it is highly likely that the current price gain is due to price corrections.
Therefore, my Stellar Lumens price prediction expects the prices to continue falling. There is a high likelihood that the prices will be trading below the $0.16 support level in the next few session. It is also highly likely that the long-term bearish move will push the price to trade below $0.15 for the first time since January 2021.
Stellar Lumens Daily Chart
