Stellar [XLM] Price Analysis; Project Registers Over One Million Active Users In Two Months

Stellar [XLM] Price Analysis; Project Registers Over One Million Active Users In Two Months

Stellar keeps on growing by the day. Although the coin’s price and market capitalization might not show it right now, the project has come a long way. In less than four years, the project has grown its user base from 0 to over 2 million according to an official announcement by the team.

According to the project’s official Reddit account, the project has successfully registered more than 1 million active users on the platform in the last 2 months. This marks a 100% growth in the last 2 months. After initially releasing in 2015, the project took more than 3 years to get a million active users, but in 2 months has successfully doubled that number. Could this signal some great things to come out of the project?

Before thinking that the project is on the verge of something big, let’s not forget that wallet recently announced a Stellar airdrop. For many of the users who’ve come on board the project, their primary after the reward- which is the largest airdrop in the history of cryptocurrencies. This means that soon after the airdrop, the number will definitely be dropping unless the project can come up with a way to keep them onboard.

XLM Price Analysis

Stellar XLM could definitely do with some good news as the coin begins the week on a downward trend. The coin has today followed the wider market drop that has seen major coins slip. Bitcoin, for instance, is hanging on the $4,000 mark with a 3% drop coming in the last 24 hours. Stellar is at the time of press down by 5%. Stellar XLM is now trading for $0.156316 with a market cap of $2,994,149,341 making it the fourth largest cryptocurrency.

In the last four weeks, Stellar has taken a dramatic turn for the worse following a market sell-off. Stellar has dropped from highs of $0.28 to lows of $0.14. At the beginning of December, the coin was able to bounce back up and climb above $0.16 but was met with resistance.

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In the coming days, the coin will try and capitalize on the high activity level in the project to push XLM high. This will, however, be contingent to the wider market finding some momentum and staying green. The bulls will be looking to get above the $0.20 position fast but will have to first get above $0.16 where the coin is currently struggling to get above.