Stellar has been in the spotlight lately for all the good reasons. Incredible performance, strategic partnerships, and high profit are just but a few. Stellar organization recently announced a groundbreaking 1 million active accounts achievement. This milestone calls for celebrations, not only in the Stellar community but the entire cryptocurrency market. In addition to that, Stellar recorded more than 3,300 assets, $25 million payments and 8 million trades ON-CHAIN in August.
Furthermore, Stellar Lumens (XLM); the official token issued by the organization is now supported on Exodus Wallet. The announcement was made via the network’s Reddit channel on August 31.
“That’s right! Stellar has officially joined the Exodus family, and we couldn’t be more excited! You can now effortlessly send, store, receive, and exchange Stellar Lumens from directly within your Exodus wallet,” Exodus wrote.
However, the users have been requested to update the exodus wallet via this link in order to access XLM on the platform. Mithril (MITH) an ERC20 token was also added to Exodus as a fully-supported exchangeable asset.
Exodus is an all-in-one secure platform where cryptocurrency users can securely manage and exchange blockchain assets. It boasts of being one of the few platforms that are a portfolio, an exchange as well as a digital wallet for multiple digital assets. Exodus was incepted in 2015 by JP Richardson, the chief technical officer and Daniel Castagnoli, the chief creative officer. In regards to the platform’s user experience, the team says:
“Exodus is designed for people who have never used an exchange. Ready to exchange Bitcoin for Ethereum? Exodus hides the complex details; in seconds, assets are exchanged behind the scenes.”
Stellar is a project that was founded by one of the co-founders of Ripple (XRP). While Ripple is a company that exists to make profit, Stellar organization, on the other hand, is a non-profit taking entity. The platform has been developed to connect banks, payments systems and people. It supports instant sending and receiving of funds while at the same time, not compromising on reliability.
Stellar achieves almost no cost transactions on its network. Stellar, just like Ripple is working on developing financial systems that enable cross-border remittances and micropayments. Transactions on the Stellar platform settle in 2-5 seconds. Moreover, it supports the development of decentralized applications using some of the most developer-friendly software tools in the market.
Stellar (XLM) Price Technical Picture
Stellar closed the trading last week at roughly $0.215. The trading this week has been everything but mundane. Stellar price corrected higher and stepped above $0.2350, came close to $0.240 but formed a high at $0.2391 before the trend turned bearish. The sellers took over control and the price pullback below last week’s closing recording lows of $0.2125. The bulls found an entry at this point and Stellar bounced above $0.220.
At present, Stellar is trading at $0.226. There is a slightly bullish trend in progress on the hourly chart. The buyers are looking forward to $0.240 but the resistance at $0.23 must be cleared in the near-term. A short-term support must be formed at $0.2250 to avoid declines towards $0.215-$0.21. The hourly 50 SMA currently at $0.22047 will try to stop declines in the event a trend reversal occurs.