XLM Price Predictions: How Far Can a MoneyGram Transaction Push XLM?
One of the most simple and basic use of cryptocurrencies is to avoid electronic payments. It’s a complete pain to transfer money overseas because of the high costs charged by global banks. As a result, some large blockchain networks have devised a decentralized solution in order to avoid the problem. It’s a fast-growing sector, but it’s been limited by the legal problems of the largest network of its exact type. The Stellar (CCC:XLMUSD) network aims to accelerate that progress on a huge scale. A new collaboration is assisting it in reaching this goal, and the Lumen coin is profiting from the news. As they investigate the future, traders are looking for some positive XLM Price Predictions.
Stellar was founded in 2014 with the goal of connecting the unbanked through a decentralized financial network. Since then, its main goals have changed to make banking system connections as smooth as possible by using blockchain. Its Lumen token provides the fuel for this transaction, allowing institutions to transmit money amongst one another while avoiding the red tape of wire transfers.
The network is still focusing down on this operation, but it is now slowly shifting to helping clients. By allowing global transactions on the blockchain, the network’s collaboration with MoneyGram (NASDAQ:MGI) enables people to avoid the same red tape as international banks.
The cooperation between Stellar and MoneyGram will be supported by the stablecoin USD Coin (CCC:USDC-USD), one of the strongest USD-pegged stablecoins existing. As per CoinDesk, the deployment would be gradual, with a trial offered in Q4 before a public launch for Stellar clients in early 2022.
XLM Price Predictions Get Interest with the Partnership
The deal is extremely significant for Stellar, and it happens at an exciting moment for this sector of the blockchain industry. Ripple (CCC:XRP-USD), one of the world’s top 10 largest digital coins by market cap, is Stellar’s biggest project in this sector. However, for Ripple, it has been involved in a bitter lawsuit with the Securities & Exchange Commission (SEC).
The lawsuit has been continuing since December 2020, and it has prevented XRP from being listed on US cryptocurrency exchange. MoneyGram also cut relations with Ripple, with whom it had previously collaborated before to the new Stellar collaboration. Stellar’s announcement is a big blow to Ripple, as Stellar looks to start gaining significant ground on the struggling XRP blockchain. As a result, traders are turning their attention to the network that is making headlines and profiting from the news. Let’s look at a certain XLM price forecasts to see where the coin may go in the coming years:
- Current XLM (Stellar Lumens) price is $0.352 today.
- XLM price target in 14 days is $0.4072 highest and $0.310 lowest.
- The long-term profit potential is +64.53% in a year.
- Also, the price of XLM (Stellar Lumens) might rise from $0.352 to $0.579 in a year.
- According to WalletInvestor, the XLM price will be $1.535 in five years.
- CoinPriceForecast forecasts a worth of 43 cents at the end of the year.
- Lumen is expected to be worth 51 cents by October 2022, according to Gov Capital.
- According to the Economy Forecast Agency, XLM will be worth 51 cents by the end of December.
- It anticipates a price of 56 cents by next year, October.
Stellar Lumens (XLM) and possibly its competitive market have been in a bullish trend in the previous 12 months, according to recent stats. Some cryptocurrency analysts believe that there will be a positive trend in the future, so the XLM may be a great investment to make money. It is proposed that you include this digital money in your portfolio as it has a good outlook.