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Stellar Lumens eyes a breakout as price pumps 8%

  • Stellar Lumens price has been recovering after a double bottom

  • XLM could break out if the Federal Reserve stays dovish

  • The token could correct if sentiment weakens

After several days of meltdown, crypto prices are picking up again. One cryptocurrency gaining bullish strength is Stellar Lumens XLM/USD. The cryptocurrency has gained more than 8% in just 24 hours. A broader look also shows a negligible 0.70% loss in the past week. That’s despite most cryptocurrencies losing value by double digits in the last seven days. 

Stellar Lumens is an open network for money transfers. According to its website, Stellar simplifies the process of creating, transferring, and trading all digital forms of money. That also includes dollars and pesos, in addition to Bitcoin and other cryptocurrencies. The aim of stellar is to allow the global financial system to function on a single network.

The current trading of Stellar Lumens is $0.11. It is a significantly low price since it almost touched $0.8 in May 2021. At the low price, investors see XLM attractive ahead of the Federal Reserve rate decision. Can the price move higher from the current level?

XLM nears a resistance after forming a double bottom at $0.10

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Source – TradingView

A technical outlook of Stellar shows the price heading back to $0.115 resistance after it bottomed at $0.10. A double bottom price at the $0.10 level suggests a trend reversal. Buyers are looking to take the price higher. A MACD crossover also confirms a bullish momentum.

Concluding thoughts

If XLM remains bullish, a breakout will occur at $0.115 and attract more buyers. A less hawkish Fed and improved crypto sentiment will reinforce a breakout. If the sentiment weakens, expect a correction at or towards $0.115.

The post Stellar Lumens eyes a breakout as price pumps 8% appeared first on CoinJournal.

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Zilliqa partners eSports platform XBorg to accelerate Web3 gaming

Zilliqa, the highly scalable layer-1 blockchain protocol, is partnering Esports 3.0 firm XBorg in an effort to accelerate the blockchain platform’s Web3 gaming ecosystem.

According to a press release sent to CoinJournal on Tuesday, the partnership with the gaming arm of Swissborg will help Zilliqa get feedback from XBorg players and use it to develop its gaming ecosystem. 

The two firms seek to achieve this via beta versions of Zilliqa-based games, with success set to aid the overall game adoption.

“Games are defined by the strength, size, and support of their communities. What we’re looking to do through our partnership with XBorg is to take a collaborative approach to the development of Zilliqa’s gaming ecosystem,” said Matt Dyer, the blockchain platform’s Chief of Staff.

Giving Zilliqa games more visibility

Zilliqa was created in 2017, with a token sale taking place in January 2018 and its mainnet went live in 2019.

Since its launch, over 40 million transactions have been processed on the mainnet and growth over the past three years has seen more than 250 decentralised applications (dApps) launched.This partnership could help its gaming product gain more visibility.

”Every element of this partnership will extend the visibility of Zilliqa’s games to entirely new audiences and communities that we would otherwise not be able to reach,” Dyer noted.

Zilliqa games will benefit from promotional campaigns across XBorg’s community of ambassadors, esports partners and influences, increasing exposure. The companies will also look to co-market games, with more focus on Zilliqa games’ skill-to-earn model boosting the broader Web3 gaming.

Louis Regis, the founder and CEO of XBorg elaborated that the partnership gives XBorg an opportunity to help top blockchain games via access to key elements such as tournaments and professional esport teams. XBorg will also apply its technical and human expertise on efforts aimed as boosting upcoming competitive titles on Zilliqa. 

According to Regis, the collaboration will also be key to the gaming provider’s quest to expand its Gaming Digital Identity offering within the Zilliqa ecosystem.

The post Zilliqa partners eSports platform XBorg to accelerate Web3 gaming appeared first on CoinJournal.