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As of press time, XLM is trading at $0.23 with a 1.7% loss in the last 24 hours, a 3.2% and 22.6% profit in the last hour and 30 days, respectively.Bullish intraday reversal on the open. Market saying inflation doesn't matter for now any longer. — Alex Krüger (@krugermacro)
However, the short term seems poised for more gains. At least until mid-March when the U.S. Federal Reserve should announce a decision on their monetary policy.
The Bullish Case For XLM And The Stellar Ecosystem
XLM’s price recent price action could be supported by several bullish developments on the Stellar ecosystem. Denelle Dixon CEO at the Stellar Development Foundation (SDF) some of the use cases hosted on this ecosystem and impacting the real world. First, Dixon mentioned the partnership with MoneyGram which has allowed the payment company to provide its users with a “way to seamlessly convert USDC to cash, or cash to USDC”. Thus, creating a gateway from fiat to crypto and vice-versa with its low costs and fast settlement improvements. In addition, Dixon highlighted the Stellar-based use case developed with Tribal Credit which enables merchants in Mexico to send local currency payments to the United States. These payments are received by U.S.-based businesses in dollars which removes trading friction for small and medium-sized operations.Related Reading | Stellar Development Foundation Launches New Account Model, How Users Will Benefit
Thus, potentially onboarding more companies onto the Stellar ecosystem. In addition, Leaf Global Fintech has developed a solution with a UNICEF-backed digital wallet that lets people save money in multiple currencies, Dixon said, to help refugees to protect themselves against inflation, move money across borders, and protect themselves against theft. Dixon concluded with the following:Blockchain is real, it’s here, and it’s solving real problems. It’s time we start talking about how it’s already unlocking new opportunities for migrant workers, refugees, the unbanked, and small and medium businesses all over the globe.