#Stellar Lumen is presently above the $0.1250 mark in its trading against the US Dollar, reflecting a similarity to Bitcoin. To initiate a new upward movement, XLM's price needs to surpass the $0.1400 mark. In the previous week, XLM witnessed a significant surge, breaking through the $0.10 resistance level against the US Dollar. It even reached above $0.150 before experiencing a corrective decline.

After reaching a peak of $0.1977, the Stellar Lumens (XLM) price retreated below $0.1500. A bottom was established around $0.1241, and currently, the price is stabilizing after experiencing losses. It is currently trading below $0.1300 and the 50-hourly simple moving average. On the 4-hour chart, a significant bearish trend line is developing, indicating resistance around $0.1300.

XLM is encountering a resistance area around $0.1350, followed by a significant hurdle near $0.1400. A decisive breakthrough above $0.1400 could potentially propel the price towards the $0.1600 mark, which aligns with the 50% Fibonacci retracement level. Further upward momentum might drive the price towards $0.180 or possibly even $0.1950.

If XLM is unable to overcome the resistance zone at $0.1600, it may find initial support around the $0.1240 level. The primary support lies near the $0.110 zone. If further losses occur, the price could potentially drop to the $0.1000 level in the near future. If the decline continue, a retest of $0.0908 may even come into play.

According to CoinGabbar Price Analysis, estimates that the market capitalization of this #XLM is $3,464,051,761. The 24-hour trading volume of the coin is around $210,855,850.

KEY LEVELS :

RESISTANCE LEVEL : $0.1350-$0.1420

SUPPORT LEVEL : $0.1240-$0.1180

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

#GOATMoments #Binanceturns6 #coingabbar $XLM

#USDC has integrated with Coinbase on Stellar Development Foundation, a non-profit for open-source development.

The move is meant to reduce costs while delivering increased throughput or speed.

It bolsters revival ambitions for USD Coin after German software giant SAP trialed the stablecoin.

USDC, short for USD Coin and touted as the Circle-issued stablecoin, has integrated with Coinbase on the #Stellar Development Foundation, a not-for-profit committed to focusing on open-source development. The move comes on the same day German software giant SAP trailed USD Coin. This popularity could play in favor of the USDC ecosystem’s resolve to revive the stablecoin.

USDC integrates with Coinbase on SDF organization

USDC stablecoin has integrated with Coinbase exchange for the SDF NGO, with the announcement indicating capability for USD Coin withdrawals and deposits through the Stellar network.  

Other value-additions due to the integration include speedy and more affordable transactions, with the announcement citing “near zero” transaction costs and the capability to complete transactions in a record five seconds.

The integration is also set to deliver a commendable on/off ramp for USD Coin to complement Stellar’s wallets, exchanges, and businesses in the financial technology space.

With this feature, Coinbase exchange anticipates a more simplistic but effective means for storing and transferring funds.

USDC had a tumultuous USDC six months, as reported, initiated when it lost dominance of the stablecoin space amid increasing regulatory clampdown and the banking crisis earlier in the year. The Coinbase integration is a grand gesture considering it is one of the largest exchange platforms globally and the biggest in the United States.

Barely 24 hours ago, the stablecoin also secured German support when the country’s software giant SAP declared its intention to use USDC as the choice token for testing its cross-border payments. If successful and therefore fully integrated into SAP’s systems, the stablecoin would attract new users while largely increasing its circulation within the cryptocurrency market. 

After losing its dominance in the market when it depegged and the subsequent collapse of Silicon Valley Bank, the USDC stablecoin recorded a stark decline in circulation in March 2023.

However, SAP choosing to use the stablecoin to transact with other countries and solve the challenges faced by businesses when sending money beyond their borders, coupled with Coinbase and Stellar Foundation's integration, USD Coin appears to be taking center stage again, which could bode well for its attempt to redeem itself in the stablecoin market. 

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The Stellar Development Foundation and Certora are working together to make Soroban’s smart contracts more secure. Certora’s advanced tools will regularly check and improve the smart contracts, ensuring they remain strong and safe.
In a recent announcement, the Stellar Development Foundation and Certora have partnered to boost security on the Stellar smart contract platform called Soroban. This collaboration will use advanced methods to make smart contracts more secure, addressing key challenges in their development and use. Stellar’s tweet highlighted the importance of this step in strengthening blockchain security for the digital age.
In the highly competitive world of smart contracts, security is absolutely crucial. These self-executing contracts manage significant financial assets and are open for anyone to inspect, making it vital to prevent vulnerabilities. Smart contracts, once deployed, are hard to change due to the strict rules of blockchains. Certora, well-known for its advanced verification tool, helps developers thoroughly check their code to minimize these vulnerabilities, providing greater peace of mind.
Certora’s Unique Method
Mooly Sagiv, the CEO of Certora, stressed the importance of being proactive during the development process. He learned from DeFi (Decentralized Finance) that delays in using tools and audits often lead to identifying problems only after they’ve been exploited. He said, “Certora’s tools can help developers create specifications before finishing the code to ensure safe and reliable applications. We’re excited to be a part of the Soroban ecosystem.”
Certora’s software, which is the result of two decades of academic research, uses a special method called Formal Verification. This method is like a thorough grammar check that carefully examines the code to make sure it does what it’s supposed to do, catching any potential mistakes. This rigorous checking helps prevent major errors, like the well-known Vyper compiler bug. Additionally, Certora has a strong track record of fixing more than 100 significant security issues in popular DeFi protocols, making their tools a valuable defense for developers.
Empowering Soroban’s Smart Contracts with Certora’s Assistance
Soroban, which uses a special format called WASM designed for blockchains, provides a versatile environment for developers. It supports many programming languages and tools, making it easy to create applications on the Stellar network. When you add Certora’s security checks into the mix, Soroban becomes an excellent choice for developers, enhancing trust in the platform.
This partnership also gives over 100 existing projects on Soroban access to Certora’s advanced verification tools. Together with Soroban’s built-in testing and security features, this creates a strong and secure DeFi (Decentralized Finance) ecosystem right from the start.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#CryptoMarket #Bitcoin #CryptoNews #Stellar #XLM

The open-source "Stellar Disbursement Platform" was launched by blockchain-based payment network Stellar with the goal of enabling quicker, more affordable, and transparent digital disbursements globally.

The platform, which has been developed over the past year by the Stellar Development Foundation (SDF), enables people and organisations to carry out mass disbursements utilising digital assets for a variety of purposes, such as gig worker payments and digital aid delivery.

The turnkey payment solution, which was initially used for digital aid disbursements in Ukraine, is now open-source and accessible for usage and future development by anyone.

The Stellar Disbursement Platform, according to the statement made on Wednesday, enables users to transmit money instantly and quickly to thousands of recipients.

Many applications are available, including payroll administration, contractor payments, and supplier payments, to meet a range of payment requirements.

Furthermore, recipients can change digital money to cash "simply" thanks to the platform's seamless connection with Stellar's worldwide network of on and off-ramps, which covers more than 180 countries.

The Stellar Disbursement Platform's open-source release has garnered praise from Denelle Dixon, CEO of the Stellar Foundation. She emphasised how well it worked to make digital aid payments in Ukraine and how it later developed into a complete payment system.

Dixon stressed the platform's potential to support innovators, freelancers, and international payroll systems, promoting a more open and accessible financial future.

The Stellar Disbursement Platform has an impact on how money is distributed for humanitarian help, according to Circle CEO Jeremy Allaire. He underlined the platform's ability to promote international distribution methods while praising its efficiency in utilising the Dollar Coin (USDC).

The Stellar Disbursement Platform's open-source design demonstrates a dedication to cooperation within the blockchain community. Stellar wants to build a more open and transparent financial future that will help gig workers, international payroll systems, and innovators by making this technology available to everyone.

Overall, the introduction of #Stellar 's open-source Stellar Disbursement Platform is a big step towards enabling global digital disbursements that are quicker, more affordable, and transparent. With its extensive range of apps and connectivity with Stellar's network, the platform enables people and companies to streamline their payment operations.

MoneyGram's minority stake is secured by Stellar.

The Stellar Development Foundation confirmed its position as a minority investor in MoneyGram, which offers cross-border P2P (person-to-person) payments and money transfer services, on Tuesday by announcing its recent participation in the go-private deal with Madison Dearborn Partners (MDP).

A seat on MoneyGram's Board of Directors has been secured for SDF as part of this investment, giving the foundation the chance to actively contribute to the company's future and digital strategy.

According to the release, SDF will use a group of executives from the payments, financial services, and technology sectors to strengthen and direct MoneyGram's digital transformation.

Additionally, the investment places SDF in a strong position to play a significant role in a number of aspects of MoneyGram's journey, including the development of its digital business, research into blockchain technology, and support for the company's overarching mission of facilitating secure and effective international money movement for people and businesses across numerous countries.

Denelle Dixon, CEO of SDF, expressed optimism about the partnership's potential for growth and opportunity. SDF advances its goal of establishing "equitable" access to financial services by forging strong partnerships with businesses in the payments industry.

This news is a win-win partnership where SDF's cooperation helps develop MoneyGram's digital capabilities while supporting SDF's mission to promote equitable financial access.

The Stellar network's native token, #XLM , has persistently dropped over the previous two weeks despite major protocol announcements and advances. The coin's current price of $0.1262 represents a 2.4% loss in value over the last day and a 13.8% loss over the previous 14 days.