This includes making innovation easy and scalable through Soroban development, scaling and decentralization endeavors, and improving developer wallet tools. Stellar’s roadmap for 2023 focuses on enhancing network utility through strategic initiatives. What’s Next For Stellar (XLM)?Īlthough XLM is currently experiencing a bearish sentiment, the long-term prospects for the cryptocurrency remain positive. It is important to consider the impact of market sentiment on short-term price fluctuations, as it can create challenges for price recovery and limit the potential for bullish momentum in the near term. The bearish sentiment indicates that market participants are cautious about XLM, leading to selling pressure and a lack of significant buying interest. Related Reading: XRP Next Step: Here’s Why An Upward Move Could Be Likely Instead, bearish sentiment has engulfed XLM, which has contributed to the recent downward price movement. ![]() However, this has not gone to plan, as Stellar’s price has failed to match the positive advancements in its ecosystem. The bridge was meant to enable smooth transfer of the USDC stablecoin between the two blockchains fostering increased utility and potential demand within Stellar’s ecosystem. The Stellar ecosystem has been rife with developments in recent months, with the biggest being the launch of the Spacewalk bridge that connects the blockchain to Polkadot. What Could Be Responsible For The Recent Price Dip? The recent downtrend in XLM’s price suggests that bears currently have the upper hand, while the scope for bullish activity appears limited. ![]() These price movements indicate a slight bearish sentiment prevailing in the crypto market, with XLM being influenced by the broader market conditions. Furthermore, in the past 24 hours, XLM recorded a minor drop of -0.61%. This represents a decrease of -13.42% in value. In the past week, Stellar (XLM) experienced a decline in price, moving from $0.1 to $0.096.
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