- Stellar records a 50% growth from the month of July 2018 in addition to the $11.5 billion of XLM assets traded ON-CHAIN.
- Upside trend turns bearish on testing $0.24 the downside is protected at the 61.8% Fib level.
Stellar was delighted to announce to the community and the world after the network recorded a whopping $48.75 billion XLM assets in the month of August only. The announced was made via Twitter and indicated that $11.5 billion worth of Stellar assets had been exchanged ON-CHAIN in August 2018.
“A whopping 48.75 billion XLM ~US$11.5B (28/8/18) worth of Stellar assets have been traded ON-CHAIN just this month alone, up from just a little over 50 million XLM just a year ago on AUG 2017. That’s almost 1,000 times growth for decentralised exchange volume on the blockchain!”
This news comes shortly after Stellar announced that it has recorded a 50% growth since July 2018. Moreover, it has been able to add to the network over 350,000 users in less than a month.
Stellar price technical overview
Stellar price broke out of the descending trend after trading lows of 0.206. The crypto, like many other assets in the market, suffered heavy losses from the end of July all the way through the first couple of weeks of August. XLM/USD is currently trading higher highs and higher lows, besides it has come so close to $0.24. Subtle lower corrections occurred but the downside is protected at the 61.8% Fib level with the last high leg at $0.2445 and a low leg of $0.206. The trendline (bullish) is also providing support as well.
XLM/USD hourly chart
Share
