XLM is near to multi-year lows, but there are signs of support.
This is my count, a count that applies to a lot of altcoins that despite showing some action earlier in the year, are now re-testing the lows of 2019. Another possible count is that the big rise and fall-back (not yet to >100%) is wave 1 and 2 of a bigger new move up. Both counts are , but to different extents. Still, there is strong divergence, histogram ticks to the upside, the moving averages are below the zero line but have crossed over and are heading upwards. I see enough fundamental and technical reasons to start buying - and I think I am very lucky to be able to buy at such low prices. Fundamental reasons like:
- Recent news from Stellar allows staking as a way to support the network as well as gain extra airdrops on Binance - Over $750,000 in airdrops to be given away over the next month and a bit. There is other good news for XLM (it will take a lot of XLM off the exchanges to earn airdrops).
Also XLM has two good use cases:
- Tempo as a platform built on the Stellar network with a very good chance of challenging the high cost, slow, international remittance industry https://www.stellar.org/how-it-works/pow.... 600,000 transactions can be sent for USD 0.01. That will be most welcome news to all those who lose 10-20% of their funds sending them home from overseas. These fees are so low as to be effectively free.
- Stellar as an ICO platform. Developers who want to launch a token or ICO on the Stellar network don't need to learn a new coding language (like "solidity" to launch on ETH) but can use common coding languages already in use. ICOs can be launched within days.
- My BTC count also points to the BTC correction as being complete. BTC has dramatically out-performed most alt-coins this year but I would expect that to change if BTC re-starts its momentum while alt-coins have undergone significant consolidation. I am taking a position in XLM buying both in USDT and BTC .
Protect those funds.