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Stellar Price Moves To A Lower Level, Can The Bulls Defeat This Resistance Mark?

Stellar price has continued to travel south over the last 24 hours. On the last day, XLM lost more than 6% of its market value. Stellar has recorded positive price sentiment recently, owing to an update that spread optimism across the XLM community. In the latest update, Stellar users can now transfer USDC and Stellar Lumens via email. Despite the update, technical indicators have sided with the bears on the one-day chart. The buying power has fallen considerably, even though the number of buyers is greater compared to the number of sellers. In the last week, Stellar price went up close to 7%. However, at press time, the bulls look exhausted. The present support zone for XLM stands between $0.111 and $0.106, respectively. A fall from the $0.106 mark will lead the Stellar price to touch the $0.99 price mark. Broader market support will be necessary for most altcoins to recover. If buyers don’t pick up momentum and XLM doesn’t topple above the 20-SMA, then the altcoin is in for a further drop in price. Stellar Price Analysis: One Day Chart XLM was trading at $0.112 at the time of writing. The coin could not hold onto its weekly gains and fell on its chart as a result of declining buying strength. It is important for the bulls to defend Stellar at the $0.111 level, else Stellar price could drop down to $0.106. Once the coin touches the $0.106 mark, it could also fall near the $0.99 level. Overhead resistance for the coin stood at $ 0.116. A move above that level could push the coin to $0.119. The amount of Stellar traded in the past trading session declined, indicating a fall in buying strength. Technical Analysis XLM was still not in the excess selling territory, but if buyers continue to decline, sellers will soon take over. Stellar has had a good past week, but the bulls failed to move past the $0.116 resistance mark, causing the coin to depreciate in price. The Relative Strength Index was right on the half-line, and that is an indication of an even number of buyers and sellers. A fall in demand will immediately push the price of Stellar below the 20-SMA line. This would mean that the sellers were driving the price momentum in the market. Related Reading: TA: Ethereum Price Needs To Clear $1,400 For Hopes of a Fresh Rally There could be a chance for Stellar to redeem its price given that XLM continued to display a buy signal on the one-day chart. The Moving Average Convergence Divergence measures the price momentum and the overall price direction of the altcoin. The MACD continued to form green signal bars that correlate with the buy signal for the coin. Although the green histograms were declining on the chart as a sign of increased selling strength, sellers had not taken over yet. The Parabolic SAR displays the price action of the altcoin. The dotted lines below the price candlestick mean that XLM could rise on its chart again with sustained demand. Related Reading: Cardano Price Surges, Will The Bulls Hold The Recovery? Featured image from Personal Financial, Chart: TradingView.com

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Why Stellar And MoneyGram Teamed Up With Techstars To Improve Cross-Border Payments

Author: Reynaldo Marquez

United Kingdom

Source: NewsBTC

Mar 12, 2022 12:10

Why Stellar And MoneyGram Teamed Up With Techstars To Improve Cross-Border Payments

The Stellar Development Foundation (SDF) and MoneyGram, the payment solution company, have partnered with Techstars. The partners will cooperate to create a support program for developers around the world working on “technological innovation”. Related Reading | Stellar To Deploy Smart Contracts By End Of 2022? XLM Reacts To The Upside Specifically, the partners will focus on people trying to improve digital payments and blockchain technology. The objective is “streamline cross-border payments and support financial inclusion”, per a press release. Techstars is a company that, according to its website, provides access to capital, customers, talent, infrastructure, and mentorship. The company calls itself an “operational investor” created to support people on their entrepreneurial aspirations. Techstars has worked with ClassPass, DataRobot, DigitalOcean, and crypto-based companies, such as Chainalysis. Their partnership with Stellar and MoneyGram will target ways to remove friction from the process of transferring money in the Latin American region. The SDF explained: Each year for the next three years, the program will select a class of up to 12 fintech startups to participate in an immersive 13-week program where entrepreneurs will work with mentors from Techstars, the Stellar Development Foundation, and MoneyGram to solidify their value proposition and product-market-fit. Once the cohorts finish their program, they will have the opportunity to present their progress in front of the fintech community, the released said. Potential participants will be able to start sending applications as early as July 25, 2022, until October 12, 2022. Denelle Dixon, CEO at the SDF and its Executive Director, claimed blockchain technology has been contributing to improving the legacy payment infrastructure and providing people with better payment cross-border payment methods. Dixon added: We believe that we can improve access to the financial system for all participants, and we’re proud to work with MoneyGram and Techstars to empower the next generation of innovators to build a more inclusive and accessible cross-border payments system that takes full advantage of 21st-century technology. Details On The New Stellar Partnership Per Techstar’s official website, the company also contributes with a monthly stipend for living expenses during their programs. In return, the beneficiaries provide them with a portion of their equity, in the form of fully diluted common stock. This arrangement stands until the company “raises a priced equity financing of $250,000 or more”. For blockchain-based companies, Techstars claims as much as 6% of the token reserve, if the supported company conducts a “token event, ICO, etc”. Beneficiaries can access an additional $100,000 in convertible notes. Maëlle Gavet, Techstarts CEO said the following on this new partnership: At Techstars, we believe great ideas are everywhere, but access to opportunity is not, which is why our global-investment model is to reach founders anywhere and everywhere. As we look to reach founders in the Americas, this program will provide early-stage blockchain and digital asset innovators the advantages and resources they need to succeed in building an inclusive, accessible financial system, and deliver world-changing solutions. Related Reading | Stellar Development Foundation Launches New Account Model, How Users Will Benefit As of press time, XLM trades at $0.17 with a 1.4% profit in the last 24 hours.

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Stellar Development Foundation Launches New Account Model, How Users Will Benefit

Author: Reynaldo Marquez

United Kingdom

Source: NewsBTC

Jan 12, 2022 12:10

Stellar Development Foundation Launches New Account Model, How Users Will Benefit

Via an official blog post, the Stellar Development Foundation (SDF) announced a new account model called Muxed. Created to remove friction and facilitate user interaction with the account model based on this network, and the multiple services build on top of it, the Muxed accounts seem to be an important improvement for the entire ecosystem. Related Reading | Stellar Network Processes 1.8 Billion Transactions, Was 2021 Its Best Year Ever? According to the post, a Muxed account is one that combines the GABC and 64-bit integer ID to create a “virtual” account under a traditional address. Due to its characteristics, a muxed account can be identified within a real account. Thus, if there is a service or product using Stellar to pool multiple accounts, they can now manage them with more ease and will be able to eliminate burdensome issues, such as meme problems. The SDF has called on “products and services built on Stellar” to check if the validators are compatible with the new account model and asked them to “come up with a plan to implement” muxed accounts into their system. The organization said: Custodial services generally use muxed accounts to map incoming payments to an internal customer database. Businesses may use muxed accounts to map incoming payments to an invoice or customer account. Other characteristics for muxed accounts, as revealed by the SBF, are the differences in its encoding, they will be 69 characters long and not 56 as a traditional account, and in their base values. As a result, Muxed accounts will have M as their first character rather than G. Muxed To Improves Transaction Experience On Stellar Per its GitHub repository, Stellar’s new account model could open more possibilities for the users, and all actors operating on this network and could finally remove the limitations of using a memo-based model: Experience shows that people frequently forget to include the memo ID, resulting in either lost funds or onerous support calls. Moreover, memo IDs are per transaction, not per occurrence of an account ID, which imposes restrictions on the use of multiplexed accounts. (…) By adding an optional memo ID to the account ID type, we make multiplexed (Muxed) accounts a first-class abstraction that can be used anywhere a normal account ID can be used. This could significantly improve the way exchanges and custodial services operate with Stellar transactions, and users will save time and money as they will no longer need to manually participate in a transaction. The SBF revealed that muxed accounts was implemented in the Protocol 13 update. This update was introduced in 2020, but muxed accounts remained hidden until yesterday, January 10th, 2022. Due to its incompatibility with older versions of the Stellar software, projects on this network were given time to update and adjust to the new model. Related Reading | How Stellar Will Host Ukraine’s CBDC Pilot Test With Tascombank As of press time, XLM trades at $0.22 with sideways movement in the 4-hour chart, as seen below.

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How Stellar Will Host Ukraine’s CBDC Pilot Test With Tascombank

Author: Reynaldo Marquez

United Kingdom

Source: NewsBTC

Dec 17, 2021 12:11

How Stellar Will Host Ukraine’s CBDC Pilot Test With Tascombank

The Stellar Development Foundation (SDF) has been working with the Ukrainian government on their national Central Bank Digital Currency (CBDC) for a while. The collaboration has started to produce results as the SDF, Bitt, and TASCOMBANK recently deployed a pilot project for the electronic hryvnia on this network. Related Reading | An Introduction To Stellar And XLM: Mission, Control, And Consensus Per a press release, the partners will test the CBDC’s use cases and its programmable capabilities. These will be leveraged to pay employees at a company called Diia, and to perform payments to merchants and individuals. According to the release published by Bitt, the project has been under the supervision of the National Bank of Ukraine aided by their Ministry of Digital Transformation. In that sense, Ukraine’s Deputy Minister of Digital Transformation, Oleksandr Bornyakov commented the following on their CBDC’s test phase: This pilot project will serve as a technological basis for the issuance of electronic money and is the next key step to advance innovation of payment and financial infrastructure in Ukraine. During the trial on Stellar, the partners will also test the capacity to issue digital currency with “asset-control capabilities for issue”s”. The banking institution will be in charge of testing the implementation of the hryvnia on Bitt’s Digital Currency Management System (DCMS). The latter company has been in charge of developing a stablecoin with its payment rails for the National Bank of Belize, and it’s behind the Eastern Caribbean Central Bank (ECCB) initiative to launch a CBDC. The target for this project, per its official website, is to increase “opportunities for financial growth”. Similar to this project, the digital hryvnia will use the “moderns software techniques” and alleged scalable and performant benefits from the DCMS. This system will “protect” the user’s data while regulatory bodies still can access “needed” information, the official website adds the following on their DCMS: Security is designed-in, to use secure defaults, minimize attack surfaces and provide defense-in-depth. Independent modules allow each component to scale independently of others, allowing automatic adjustment to meet variable demands. Stellar Spearheads Ukranian Initiative With its DCMS system Bitt will provide secure minting, currency manager, and a monetary transaction network. Thus, tackling three of the most important items in every CBDC project. Volodymyr Dubey, Chairman of the for TASCOMBANK, said: Cooperation with Bitt to build on Stellar allows us to connect our core banking system with blockchain-based infrastructure, creating an ecosystem that includes a full range of banking products and operations with electronic currency on the Stellar blockchain. Dubey also expressed excitement to improve the country’s financial products by using virtual assets. The Ukranian Central Bank and TASCOMBANK have long-term strategies that include innovation supported on blockchain technology and the digital economy. Executive Director and CEO of the Stellar Development Foundation Denelle Dixon added the following: Stellar is an open network that was designed with asset issuance in mind, and is uniquely suited to assets like the electronic hryvnia. It offers issuers, like TASCOMBANK, a suite of controls that they can configure for their asset control needs while maintaining the interoperability and flexibility of an open ledger. Related Reading | Stellar To Launch New Europe-Africa Payment Corridor With This Partner As of press time, XLM trades at $0,26 with a 2.9% loss in the past 24 hours.

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How Stellar’s $40M Investment In Tala Will Give Millions Access To Financial Services

Author: Reynaldo Marquez

United Kingdom

Source: NewsBTC

Oct 15, 2021 12:10

How Stellar’s $40M Investment In Tala Will Give Millions Access To Financial Services

The Stellar Development Foundation (SDF) has made a fresh bet on the financial services sector. According to a press release, the institution participated in a $145 million series E for Tala. A global technology company working on providing millions of people with access to lend, borrow, and other financial services Tala reached an over $350 million funding with support from the SDF and its Enterprise Fund, Upstart, and others. Related Reading | Stellar Network To Power New Savings API Launched By Wyre Launch in 2020, the SDF’s Enterprise Fund provides support, in U.S. dollar or XLM, to payments companies with a cross-border approach, companies that provide financial inclusions in emerging markets, access to tokenized assets, and other criteria. The fund was launch with the objective of investing in companies capable of bringing real world use case and contribute with the Stellar ecosystem. Tala will use the funds to create a crypto product to attract mass adoption especially oriented to developing countries. In these countries, over 3 billion people lack options to participate in the global financial sector. Thus, Tala will leverage cryptocurrencies, mobile technology, and data science to provide people with tools to increment their wealth and achieve economic independence. Related Reading | Stellar To Introduce AMM Functionality, What This Means For Its Ecosystem Denelle Dixon, CEO and Executive Director for the Stellar Development Foundation, claimed that their investment in Tala represents their confidence in the company’s potential. Dixon added: Joining forces with Tala to improve access to financial services for millions of people in emerging markets is exactly aligned with our mission at Stellar Development Foundation. Since the Stellar network leverages interoperability with the world’s existing financial systems, Stellar and Tala technology together are a powerful tool to bridge gaps for those who have been left out. Stellar New Partnership And A Future Of Financial Inclusion The CEO and Founder of Tala Shivani Siroya said the following on their progress over the past years, trying to improve the traditional financial system, and their future: This new investment will accelerate our path to becoming the primary financial account for the global underbanked and helping millions more people make progress in their financial lives. Paul Gu and Denelle Dixon are visionary leaders who share our commitment to building a financial system that works for everyone and we are thrilled to welcome them to the team. The Co-Found and Head of Product at Upstart Paul Gu claimed that Tala has begun to solve one of the most important issues for consumers in the developing world by providing with access to financial services. Gu said: Upstart shares Tala’s belief that technology is the key to unlock access for the underserved, and we’re excited to support them in serving the next 1 billion people entering the financial system. As NewsBTC reported yesterday, Stellar has been making relevant developments, getting major partners such as payment giant MoneyGram, and investments in 2021. This network ecosystem seems to be growing as the year ends. This has translated into positive performance for Stellar’s native asset XLM. Over the past 2 weeks, this cryptocurrency has been one of the best performing assets in the crypto top 25 with a 35.7% profit. Related Reading | Stellar Development Foundation Takes Part In Abra $55 Million Series C Funding In lower timeframes, as Bitcoin (BTC), Ethereum (ETH), and the rest of the cryptocurrencies in the top 10 move sideways, XLM records a 2% and 3.5% profit in the daily and weekly charts, respectively.

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Stellar Development Foundation Takes Part In Abra $55 Million Series C Funding

Author: Reynaldo Marquez

United Kingdom

Source: NewsBTC

Sep 15, 2021 04:50

Stellar Development Foundation Takes Part In Abra $55 Million Series C Funding

Leading wealth management platform Abra completed a Series C funding with participation from the Stellar Development Foundation. The company raised $55 million in the round led by major players in the industry, such as IGNIA and Blockchain Capital. The Stellar Development Foundation was one of the new investors in the company alongside Kingsway Capital and Tiga Investment. In addition, Abra received investments from Lerer Hippeau Ventures, Amex Ventures, Arbor Ventures, RRE Ventures, CMT Digital Ventures, and Kenetic Advisors. Related Reading | An Introduction To Stellar And XLM: Mission, Control, And Consensus Other relevant names participated in the Series C funding, according to a press release. The wealth management platform increased its total funding to more than $85 million since its creation. The release claims that the funds will be used to expand Abra’s team into new offerings which include wealth management, trading, and payments. Thus, why the investment from the Stellar Development Foundation could have a relevant role to achieve this goal. Bill Barhydt, founder, and CEO of Abra said the following: Cryptocurrencies, NFTs and DeFi are now top of mind for almost all investors. The crypto asset class is growing exponentially, even outpacing the early commercial Internet itself. Our vision of crypto-centric banking is coming to life in front of our eyes, and Abra is excited to serve as a leader in the space. Barhydt claimed to feel “proud” of the Abra team and their accomplishments. The executive expects the platform to keep scaling and growing. Stellar And Abra’s Shared History Of Crypto Expansion Since 2020, Abra has seen “tremendous” growth, according to the press release. The company records a ten-fold increase in revenues, and a 0 to $1 billion in assets under management (AUM) for its custody services, Abra Trade and Abra Earn. Related Reading | Stellar Network To Power New Savings API Launched By Wyre In the same period, the company’s 155,000 monthly users have processed $4 billion in transactions. In that sense, Bart Stephens, Managing Partner at Blockchain Capital, said the following on its latest Series C Funding: We believe Abra is on an exciting growth trajectory, led by a strong management team with an understanding of the long-term potential for cryptocurrencies. Abra offers unmatched accessibility for every type of investor which positions the company well for capitalizing on the growth in adoption and interest in cryptocurrencies globally. In 2020, the Stellar Development Foundation made a $5 million investment in Abra. The partners worked to expand Abra’s financial services with Stellar as a blockchain back-end and “democratize access” to them for new customers in developing countries. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course At the time, the CEO of the Stellar Development Foundation Denelle Dixon said: Abra is building a product portfolio of financial services that aligns directly with our mission to create equitable access to the global financial system. They’re committed to providing innovative investment opportunities in underserved, capital-scarce markets. Alvaro Rodriguez Arregui, a Managing Partner of IGNIA, added: Abra is perfectly positioned to execute on its mission to expand access to crypto assets in a safe and secure way for customers. As international investors ourselves, we recognize the need for safe and reliable access to the crypto ecosystem and are excited to support Abra. At the time of writing, XLM trades at $0,33 with a 3.8% profit in the daily chart.

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Source: NewsBTC

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Source: NewsBTC

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Source: NewsBTC

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Source: NewsBTC

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Source: NewsBTC

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Source: NewsBTC

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