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Stellar Lumens listed on Coinbase Pro: XLM surging after confirmation

Stellar Lumes is being listed on Coinbase Pro as announced by Coinbase in an article on their website. Stellar lumens focuses on cross border payments.
Stellar Lumes is being listed on Coinbase Pro as announced by Coinbase in an article on their website. Stellar lumens focuses on cross border payments.

Stellar Lumes is being listed on Coinbase Pro as announced by Coinbase in an article on their website. Stellar lumens is a coin that focuses on cross border payments. Earlier, Coinbase had announced the listing of XRP on the same platform and just as XRP, Stellar Lumens shall be available in states which are supported by Coinbase apart from New York.

After the announcement, people are expecting that Stellar Lumens shall also soon be available on Coinbase customer’s platform too as most of the tokens that are listed first on Coinbase Pro, soon get listed on the other platforms too. However, there is no confirmation from Coinbase about the same yet.

Coinbase had already made announcements in December last year that they would add thirty new tokens on the platform which included Stellar Lumens as well. As a testing phase, XLM listing shall be carried out in several stages before the actual trading starts. It will firstly be listed on transfer-only mode and later full trading shall start.

Stellar Lumens (XLM) is the native token of the stellar network which was founded by Jed McCaleb, the founder of Mt.Gox and also the co-founder of Ripple with Joyce Kim, a former lawyer. Coinbase described Stellar Network as a token that has an aim to connect banking institutions, payment systems and independent parties or individuals with each other in a rapid and authenticated way.

Stellar Lumens Daily Price Analysis:

XLMUSD Price Chart
XLMUSD Price Chart

Stellar Lumens (XLM) was trading around $0.1015 yesterday and soon after the announcement by Coinbase, it spiked upwards. It reached up to $0.1130 before starting to correct downwards. There are numerous resistances formed around $0.108 and $0.111 which are preventing XLM to rise further. Currently, XLM is correcting downwards with major support at $0.105. If this support is broken, XLM might crash down to the same level where from where it started the bull rally.

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Written by Ruchi Ramaswamy

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