The Stellar network is an open-source, distributed, and community-owned network used to facilitate cross-asset transfers of value while aiming to drastically reduce the cost and time required for cross-border transfers.
Consequently, it was ranked as one of the worst performers in the past few years alongside XRP.
Stellar Woes May Soon Be Turned Around As Analyst Foresees a Massive 50% Rally for XLM
Not only this was evident, but analysts have also noted that the once static crypto just breached above an important technical resistance level that has been ebbed for almost two years, this is the first breaking stunt it has seen since 2018. Analysts see Stellar advancing as much as 50% once it surges past this resistance level.
XLM/BTC Daily Chart
As Bitcoin surged past the $9,000 level in the latest stunt from the $3,800 bottom low it recorded during the March market carnage, Stellar had also seen significant upside movements gaining strength. Many see this strength reaching a peak spurring a bigger rally.
Earlier in April, the Stellar Development Foundation (SDF) launched a Lumenthropy Project against COVID-19 using XLM tokens as a donation to several charitable organizations.