Is Stellar Going to Zero? XLM Price Drops 5% as Popular New Bitcoin Project Raises $1.5 Million
Stellar Lumens (XLM) price action is hitting the deck, after a disappointing -8% market reaction to the release of the ‘Real World’ campaign by the Stellar Organisation in collaboration with Idris Elba.
This comes following weeks of anticipation in the Stellar Lumens community, which has awaited the teased announcement for more than 10 days.
The ‘Real World’ campaign aims to shine a fresh spotlight on the efforts of project builders across the Stellar ecosystem, including initiatives such as transparency in aid disbursement by the International Rescue Committee.
But despite the strong marketing potential of the new campaign – faced by none other than Idris Elba – market reaction appears to have been a classic ‘sell the news’ response.
With the significant price drop being tied to disappointment in what has been seen as an underwhelming announcement by some in the Stellar community.
XLM Price Analysis: Can Stellar Lumens Recover From -8% Drop?
Amid the dramatic downside move, Stellar is currently trading at a market price of $0.12 (representing a 24-hour change of -0.44%).
This comes as price appears to be stabilizing after the sudden -8.86% drop, triggered by yesterday’s announcement.
The downside move has seen XLM lose the support under-footing of the 20DMA, which was reclaimed in a major strengthening move ahead of the announcement on September 4.
Back in August, the 20DMA acted to suppress upside price moves for for 33-days, stoking concerns that the recent drop could spell a month of downside movement.
A serious retracement could see XLM return to support at $0.11, which is bolstered by support from an ascendant lower 200DMA around $0.105.
Shifting to reasons to be cheerful, the -8% drop has seen the RSI indicator cool-off rapidly back to an oversold signal at 45 – and while this might indicate that the worst of the downside is over, it could trigger a lengthy consolidation below the 20DMA.
The MACD also signals bullish, maintaining bullish divergence at 0.0007 – again suggesting consolidation here could be expected.
With consolidation above the 200DMA on the cards, price action is likely to be uneventful in coming weeks – with few fundamentals that could trigger another upside move in the short-term.
This leaves upside capped targeting a reclamation of the 20DMA at $0.125 (a possible +3.34%).
While to the downside, XLM could see a tumble down to lower support at $0.11 (a potential -9.06%).
So while Stellar isn’t going to zero, the downside move leaves XLM with a risk: reward ratio of 0.37 – a terrible entry – dominated by downside risk on the short-time frame.
But while XLM is reeling, smart money have moved onto an emerging Bitcoin derivatives presale that is capturing the attention of on-chain markets.
Bitcoin Derivatives Presale Surges +$1.5M: Meet Bitcoin BSC
On-Chain Summer has given rise to an emerging vertical of Bitcoin off-shoot projects. While the term “Bitcoin derivative” might raise eyebrows, here’s what it signifies: a digital asset that leverages the strengths of Bitcoin and, at the same time, offers enhancements to rectify its challenges.
And with $1,521,743 raised this is what has markets so excited about Bitcoin BSC.
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Staking Comes to Bitcoin: Empower Your Stack with Additional Rewards
BTCBSC isn’t just a token; it’s an investment strategy – focused on: Staking, which has become a focal point in the DeFi space, takes center stage in the BTCBSC ecosystem.
The benefits are two-fold: it offers token holders a lucrative yield (imagine an APY of 8-10%!) and it promotes long-term holding, reducing the notorious price volatility often seen with new crypto projects.
By distributing a staggering 69% of the total token supply as staking rewards over 120 years, BTCBSC not only incentivizes holding but promises sustained and stable growth.
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Seize the Moment: The BTCBSC Presale Surges to $1.5m+ Raised in First Week
Now comes the crux: the BTCBSC presale -a limited-time opportunity, the presale offers 29% of the total token supply to early participants at a tantalizing price of $0.99 per token.
Comparing this to Bitcoin’s 2011 price gives a nostalgic yet optimistic perspective on BTCBSC’s potential.
With liquidity already locked via Unicrypt and a soon-to-be launch on PancakeSwap, the prospects for BTCBSC are incredibly promising.
The parallels to the surges seen in other Bitcoin derivatives, like BCH and BTC20, cannot be ignored.
BTCBSC is poised to not only emulate, but potentially surpass these successes, especially with its strategic staking model.
So in ever volatile crypto markets, BTCBSC emerges as a beacon of innovation and promise – delivering advanced features, combined with the trustworthiness of Bitcoin’s legacy, has seen BTCBSC break-out as a top tier investment opportunity.
As the crypto community eagerly watches the BTCBSC journey, it’s clear that this is more than just another token; it’s a movement, a strategy, and most importantly, an opportunity.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
