#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

Currently, the #Stellar Lumens  price is trading below $0.150 against the US Dollar, mirroring the movement of Bitcoin. In order for XLM to experience further gains, it is crucial for its price to maintain support above the $0.140 level.

Following a consolidation period above $0.120, the Stellar Lumens price initiated a new uptrend against the US Dollar. As a result, the XLM/USD pair successfully breached the $0.150 resistance zone, signaling a shift into a positive zone.

The Stellar Lumens price exhibited significant strength, surpassing the $0.1650 resistance level. During this upward surge, the price even reached as high as $0.180 before experiencing a corrective decline. Consequently, it slipped below the $0.175 support level.

Currently, the price is undergoing a test of the 50% Fibonacci retracement level of the upward movement, starting from the $0.1241 swing low and reaching the $0.1809 high. Notably, XLM is trading above $0.1500 and remains above the 200 hourly simple moving average.

XLM price faces obstacles in its upward journey, with significant resistance at $1.530 and the subsequent one at $0.160. A crucial bearish trend line around $0.160 is also hindering its progress. Breaking above $0.1675 convincingly could lead to further gains, targeting $0.1800, $0.1920, and potentially $0.2000 in the long run.

The initial downside support for the XLM price is approximately at the $0.1450 level or the 61.8% Fibonacci retracement level of the upward movement from the $0.1241 swing low to the $0.1809 high. Following this, a significant support zone lies near $0.1350. In the event of further losses, the price might approach the $0.1250 level in the near future.

According to CoinGabbar Price Analysis estimates that the market capitalization of this #XLM is $3,977,874,276. The 24-hour trading volume of the coin is around $202,657,864.

KEY LEVELS :

RESISTANCE LEVEL : $0.1520-$0.1600

SUPPORT LEVEL : $0.1400-$0.1320

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

The current trading situation shows #Stellar Lumens priced above $0.150 in comparison to the US Dollar, exhibiting a similar trend to Bitcoin. For a potential uptrend to take place, XLM's price must successfully clear the $0.170 mark.

Following a period of steady growth, the Stellar Lumens price experienced a corrective downturn below the $0.180 level against the US Dollar. This correction caused the XLM/USD pair to slip beneath the $0.165 support, eventually testing the $0.140 zone.

Following a bottom formation near $0.1402, Stellar Lumens (XLM) is currently in the midst of a recovery wave. Notably, it successfully broke above the $0.145 resistance zone on the 4-hour chart. 

Moreover, a significant bearish trend line, previously capping gains around $0.145, was breached as well. The price further surged above the 50% Fibonacci retracement level of the downward move, which extended from the $0.1809 swing high to the $0.1402 low.

As of now, XLM is trading above both $0.155 and the 200 hourly simple moving average, signaling a positive momentum and potential for further gains in the short term.

XLM is encountering resistance around the $0.165 area. The next significant hurdle lies at approximately $0.180. A decisive breakthrough above this level has the potential to propel the price towards the $0.192 mark. Subsequent further gains could push the price higher, targeting levels around $0.200, or even extending to $0.2150.

If XLM fails to surpass the $0.1650 mark, the first support on the downside emerges around the $0.1500 level. The primary support is situated near the $0.1400 zone. Further downward movement could potentially drive the price towards the $0.1250 level in the near future. If this level is breached, there is a possibility of the price retesting the $0.1120 support level.

According to CoinGabbar Price Analysis estimates that the market capitalization of this #XLM is $4,230,087,671. The 24-hour trading volume of the coin is around $116,767,816.

KEY LEVELS :

RESISTANCE LEVEL : $0.1650-$0.1800

SUPPORT LEVEL : $0.1500-$0.1400

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.

#coingabbar #Binanceturns6 #GOATMoments $XLM