![]() There are concerns that this bearish sentiment could strengthen as the price lingers around $0.10. On the daily chart, XLM has been unable to decisively break the resistance line of the descending trend, maintaining a bearish outlook. Despite occasional price spikes, such as the one following the announcement of the Soroban smart contract platform in September, XLM buyers have faced consistent challenges. The struggle with XLM’s price started after it reached a peak of $0.20 on July 13. This dip occurred when XLM fell below the support line in a descending triangle pattern, signaling potential challenges ahead. Although there was a slight 1.3 percent increase in the last 24 hours, XLM has experienced a 7 percent decline over the past week and a significant 15 percent decrease in the last month. Stellar (XLM), a well-known cryptocurrency, has been making headlines lately due to a noticeable drop in its price. Is XLM capable of making an upward reversal? Although the launch of the smart contract platform on the testnet in September briefly boosted XLM’s price, the overall performance has not met expectations. Through a partnership with Certora, a smart contract auditing platform, the Stellar Development Foundation aims to enhance security within the Soroban ecosystem. Stellar recently introduced developments related to the Soroban platform, a smart contract system powered by WebAssembly (WASM). Soroban Smart Contract Development (WASM) In 2020, SatoshiPay, a micropayment processor, announced that it would be integrating with Stellar’s blockchain technology to enable instant micropayments. In March 2019, IBM launched the World Wire payment network, which uses Stellar’s blockchain technology to enable near-instant cross-border payments. The system is designed to facilitate cross-border payments and foreign exchange in real time. In 2019, IBM announced a partnership with Stellar to create a new blockchain-based payment system called World Wire. ![]() Recent developments in XLM and Partnership Partnership with IBM
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