Stellar Lumens (XLM), the current 13th crypto by market capitalization, has been relatively volatile in price over the past week, which has caught the eye of Stellar’s bullish trend prediction.
In fact, XLM reached its ATH – All-time High – of $0.60 in February this year and then fell nearly 50%. But already this week volatility has brought the price of XLM back to $0.53.
The enthusiasm of investors could be rekindled if XLM breaks through the $0.60 price resistance.
The project continues its development with the mission to increase its use cases. One example is Horizon 2.0, the updated version of Horizon.
In fact, Horizon, the API package used to develop on the Stellar blockchain, in its new version 2.0 allows developers to choose their configuration according to the use cases and thus have a lighter or professional version.
Not only that, but the crypto for fast and borderless peer-to-peer payments is also the network on which Akoin (AKN) is based, which is the token of the famous American rapper Akon, of Senegalese origin.
Akoin, a token native to Stellar’s blockchain, is the currency that is meant to represent all developing countries, and which today (at the time of writing) is worth an impressive $0.35.
Stellar predictions: will it be the blockchain of the EU CBDC?
Another hypothesis that is circulating about Stellar Lumens (XLM) is the possibility that it will be considered as the main network on which the European Union’s CBDC or Central Bank Digital Currency could be issued.
According to Christine Lagarde, president of the European Central Bank (or ECB), a decision on the digital euro will be made by mid-year.
Lagarde, however, has never omitted her position on stablecoins, which she sees as a threat, or even on Bitcoin (BTC), which she calls a “funny business”.
Therefore, it is still unclear how the ECB intends to act towards the new digital euro. In this regard, a Reddit user, part of the Stellar community, expressed his consideration as follows:
“The secrecy of the whole current financial system is its biggest issue and the reason nobody trusts the bankers. (…) the money is going to have to be a public utility, trusted by everyone”.
The idea would be to have a new goal for institutions, namely to make public and private coexist in the field of finance.
Despite the proposals and discussions however, the idea that emerged according to the community was that Lagarde will opt to use a private blockchain for the CBDC, who knows if it will be interoperable with Stellar and other cryptocurrencies or stablecoins.