You make your money in the bear markets. You see much you made in the bull markets. In the last 6 months of basically no activity, one of the top 25 coins is up 50%. Can you believe it?
Even Bitcoin, which has had a good 2023 so far and is doing much better than most of the market is mostly flat the last 6 months. Who am I talking about? And could this coin make you a millionaire? I’m talking about Stellar Lumens and its XLM token. Want to know more? Then let’s take a look.
XLM Historical Performance
Before I come to an exact number of Stellar Lumens you need to become a millionaire. You and I need to understand where XLM could go from here. And to do that, we first need to understand where it’s been. Most of us are not whales holding hundreds of thousands of XLM. So this means we will need to see a big price move to become a Stellar Lumens millionaire. But it could happen.
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— Stellar (@StellarOrg) August 25, 2023
Stellar Lumens, which until recently was flying under the radar, is the #21 market cap project in crypto. It’s a surprise to many it’s ranked so high as I know there are some of you out there who are hearing about this coin for the first time. Nowadays, Stellar market cap is $3.26 billion placing it just barely ahead of both Avalanche and Chainlink. That gives you an idea of how big this project is.
The total supply of XLM is 50 billion, with 27.5 billion in circulation. Its all-time high was not from the last bull market but TWO bull markets ago in January 2018. That high was 87 cents. Its current price is 11 cents. So, a move from 12c up to 87c would give us an almost 7x. It would also give us a market value of $23.9 billion. That’s almost the value of XRP, the #6 coin in crypto.
More About XLM
And for those of you who do now know. XRP and XLM have a common owner in Jed McCaleb. In fact, XLM is a hard fork of Ripple’s code like BCH is of Bitcoin. As a Ripple fork, XLM got a big price pump from the SEC ruling in Ripple’s favor. In fact, the pump was almost as big as what Ripple itself got.
It’s making moves in the CBDC market too as as 2 countries are issuing theirs on the XLM blockchain. The all-time low from back in 2015 is 4 one-hundredths of a cent or $0.0004. Those days are long gone. But again, the all-time high was 5 years ago and we could see some nice gains if it returns there.
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3⃣Power supplier payments, payroll, contractor payments, and more pic.twitter.com/DgafCxFp8Z— Stellar (@StellarOrg) August 16, 2023
But could Stellar hit new all-time highs and make some millionaires? Yes, yes it can. Do you think XLM will hit a new all-time high? Let us know in the comments below.
What do the XLM Charts Say
We asked our Technical Analysis team to look at Stellar and here’s what they had to say.
After a bear market low of 7.1 cents in January, Stellar Lumens has mostly been in a trading range (meaning directionless) between 7.1c and 11 cents. Recent highs in July of 16.4 cents are the current resistance. If it breaks through that, the next long-term resistance is at 23.5c, 30.1c, and 40c. After 40c, the next resistance we see is at the all-time high of 87 cents. On the downside, support at 6.5 cents is a multi-year low. If it breaks down below that we could definitely see prices hit 2 or 3 cents.
And it’s helpful to know what the charts say. You can learn a lot from them. I also believe XLM could go higher than that. Also, It’s becoming a payments leader and we know payments is one of the few true killer use cases in the industry right now. Stellar’s integration with SWIFT for global cross-border payments is evidence of that.
The project has LOTS of room to grow including that 7x just to catch up to XRP.
Source: Coingecko
How Much XLM = $1 Million?
So you’ve seen our bull arguments based on:
- Payments
- Moving in sympathy with XRP
- More clarity given the US court decision
- Growth of CBDCs
- Room to grow to catch its ATH
So how much XLM does it take? In the next 2-5 years, we see XLM going up to $2-3. That would mean Stellar is worth 80-90 billion. That’s the range where Tether is now. So at $2, that means you would need 500,000 XLM.
Or in the upper end of our range, you would need 333,000 XLM to become a Stellar Lumens millionaire. Do you think XLM could hit $3? Let us know in the comments below.
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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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