0R15 8535.0 0.4118% 0R1E 7610.0 -0.5489% 0M69 18520.0801 47.1015% 0R2V 221.36 9893.6795% 0QYR 1226.0 1.5321% 0QYP 430.5 2.0142% 0RUK None None% 0RYA 1268.0 0.4754% 0RIH 157.1 0.0% 0RIH 157.1 0.0% 0R1O 186.19 9977.9432% 0R1O None None% 0QFP None None% 0M2Z 267.95 -0.5105% 0VSO 27.75 -22.0615% 0R1I None None% 0QZI 525.0 0.0% 0QZ0 220.0 0.0% 0NZF None None% 0YXG 166.79 0.8309%

Crypto Report

One Cryptocurrency Trading Above the Support Levels- Stellar (XLM)

Aug 08, 2024

Crypto Market Round-Up

Typically, cryptocurrencies are termed as digital currencies and use blockchain technology to record every transaction. Stellar (XLM) operates as a blockchain-based payment network designed to facilitate fast and affordable cross-border transactions. At its core, Stellar is a decentralized protocol that enables seamless transfers of various currencies, both fiat and cryptocurrencies. The network uses Lumens (XLM) as its native tokens, which play a crucial role in processing transactions and maintaining network security. XLM has a market capitalization of ~USD 2.98 billion (as per TradingView as of August 08, 2024).

Last week, the benchmark S&P Cryptocurrency Broad Digital Market (BDM) Index started on a negative note and maintained a bearish momentum for the entire week. The index dropped by 392.45 points (~8.72%) to 4108.16 for the week ending August 02, 2024. In the current week starting August 05, 2024, the index is trading with negative momentum. Moreover, other major cryptocurrencies, such as Bitcoin and Ethereum, are witnessing bearish momentum for the current week.

Having understood the S&P Cryptocurrency BDM Index movement over the last week and the scenario for the upcoming week, one crypto that seems ‘Bullish’ at the current level appears to be Stellar (XLM) based on the below technical parameters: -

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