{"id":389567,"date":"2019-07-11T18:00:03","date_gmt":"2019-07-11T18:00:03","guid":{"rendered":"https:\/\/wncen.com\/?p=389567"},"modified":"2024-06-11T16:19:36","modified_gmt":"2024-06-11T16:19:36","slug":"stellar-lumens-xlm-down-50-since-ibm-parted-ways-with-jesse-lund","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/stellar-lumens-xlm-down-50-since-ibm-parted-ways-with-jesse-lund\/","title":{"rendered":"Stellar Lumens (XLM) Down 50% Since IBM Parted Ways With Jesse Lund"},"content":{"rendered":"<ul>\n<li><em>Stellar Lumens (XLM) battered, slides 14.5 percent<\/em><\/li>\n<li><em>Even with IBM, bears are relentless<\/em><\/li>\n<\/ul>\n<p><em>Coinciding with Jesse Lund and CTO Yang exit, XLM prices are in a downtrend. Presently, XLM is at a precipice with traders aware that losses below 7 cents could see bears aim for new lows. Meanwhile, the coin is down 14.5 percent from last week\u2019s close.<\/em><\/p>\n<h2>Stellar Lumens Price Analysis<\/h2>\n<h2>Fundamentals<\/h2>\n<p>Despite seamless communication, <a href=\"https:\/\/wncen.com\/press-releases\/2019-chain-plus-asia-pacific-blockchain-new-finance-summit-singapore-station-completed-successfully\/\" target=\"_blank\" rel=\"noopener noreferrer \">finance<\/a> appears to be lagging. However, the introduction of a new layer, a web built on top of the internet is where future generations will flourish on. Blockchain is the anchor block for a distributed and free <a href=\"https:\/\/wncen.com\/2018\/02\/20\/forget-iot-iov-on-its-way\/\" target=\"_blank\" rel=\"noopener noreferrer \">internet of value<\/a>.<\/p>\n<p>Good news is, Stellar is right in the middle, carving out market share at this definitive juncture. Support from heavyweights as IBM is also significant. Understandably, the clamor is for good reasons.<\/p>\n<p>The global remittance is on the rise. For example, statistics from the <a href=\"https:\/\/wncen.com\/2019\/02\/12\/xrp-and-ripple-stand-to-benefit-if-the-world-bank-and-mckinsey-projections-are-true\/\" target=\"_blank\" rel=\"noopener noreferrer \">World Bank<\/a> show that by close of the financial year 2018, outflows to developing countries surged to <a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2019\/04\/08\/record-high-remittances-sent-globally-in-2018\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">$529 billion<\/a>, an increase of 9.6 percent from $483 billion of 2017.<\/p>\n<p><a href=\"https:\/\/wncen.com\/2019\/02\/22\/jesse-lund-of-ibm-bitcoin-btc-value-derived-from-its-utility\/\" target=\"_blank\" rel=\"noopener noreferrer \">IBM<\/a> involvement is bullish for Stellar considering their ties in traditional banking and their influence. Because of IBM commitment to the blockchain, six banks are planning to launch stable coins on the network.<\/p>\n<p>Then again, thanks to World-Wire Stellar, right out of the gate supports 42 different fiat currencies from 72 countries. However, the exit of Jesse Lund and CTO Yang sent shock waves which encouragingly, Stellar is recovering.<\/p>\n<h2>Candlestick Arrangement<\/h2>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-389563\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Stellar-Lumens-Daily-Chart-July-11.png?resize=1366%2C768\" alt=\"Stellar Lumens XLM\" width=\"1366\" height=\"768\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Stellar-Lumens-Daily-Chart-July-11.png?w=1366 1366w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Stellar-Lumens-Daily-Chart-July-11.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Stellar-Lumens-Daily-Chart-July-11.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Stellar-Lumens-Daily-Chart-July-11.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Stellar-Lumens-Daily-Chart-July-11.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Stellar-Lumens-Daily-Chart-July-11.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>At the time of writing, <a href=\"https:\/\/wncen.com\/2019\/06\/21\/xlm-slip-will-stellar-ibm-partnership-be-in-tatters-after-lunds-exit\/\" target=\"_blank\" rel=\"noopener noreferrer \">XLM<\/a> is down 14.5 percent week-to-date and 8.2 percent in 24 hours. From the chart, it is clear that bears are in the driving seat. Even though price action is bullish, candlestick arrangement and other technical factors point to weakness.<\/p>\n<p>First, notice that not only is XLM printing lower with increasing volumes but the banding along the lower Bollinger Band (BB) hint of fractures. Add that to price divergence from the middle BB and odds are XLM will likely tumble below the second layer of support at 7 cents.<\/p>\n<p>That will wipe out gains of the last six months while simultaneously setting the pace for further draw down as XLM print new lows.\u00a0 Even so, support from spot rates could see bulls aim for Q1 2019 highs of between 13 cents and 14 cents.<\/p>\n<h2>Technical Indicators<\/h2>\n<p>XLM is at a precipice. With a meltdown threatening investors, May 16 bear candlestick leads this trade plan. If there is support with high trading volumes exceeding 5.45 million of May 16, XLM may snap back to trend as buyers aim for 14 cents. Conversely, losses below 7 cents at the back of increasing participation spells doom for XLM.<\/p>\n<p><a href=\"https:\/\/www.tradingview.com\/\" rel=\"nofollow\"><em><strong>Chart<\/strong><\/em><\/a><em><strong> courtesy of Trading View. Image Courtesy of Shutterstock<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stellar Lumens (XLM) battered, slides 14.5 percent Even with IBM, bears are relentless Coinciding with Jesse Lund and CTO Yang exit, XLM prices are in a downtrend. Presently, XLM is at a precipice with traders aware that losses below 7 cents could see bears aim for new lows. Meanwhile, the coin is down 14.5 percent from last week\u2019s close. Stellar Lumens Price Analysis Fundamentals Despite seamless communication, finance appears to be lagging. However, the introduction of a new layer, a web built on top of the internet is where future generations will flourish on. Blockchain is the anchor block for a distributed and free internet of value. Good news is, Stellar is right in the middle, carving out market share at this definitive juncture. Support from heavyweights as IBM is also significant. Understandably, the clamor is for good reasons. The global remittance is on the rise. For example, statistics from the World Bank show that by close of the financial year 2018, outflows to developing countries surged to $529 billion, an increase of 9.6 percent from $483 billion of 2017. IBM involvement is bullish for Stellar considering their ties in traditional banking and their influence. Because of IBM commitment to the blockchain, six banks are planning to launch stable coins on the network. Then again, thanks to World-Wire Stellar, right out of the gate supports 42 different fiat currencies from 72 countries. However, the exit of Jesse Lund and CTO Yang sent shock waves which encouragingly, Stellar is recovering. Candlestick Arrangement At the time of writing, XLM is down 14.5 percent week-to-date and 8.2 percent in 24 hours. From the chart, it is clear that bears are in the driving seat. Even though price action is bullish, candlestick arrangement and other technical factors point to weakness. First, notice that not only is XLM printing lower with increasing volumes but the banding along the lower Bollinger Band (BB) hint of fractures. Add that to price divergence from the middle BB and odds are XLM will likely tumble below the second layer of support at 7 cents. That will wipe out gains of the last six months while simultaneously setting the pace for further draw down as XLM print new lows.\u00a0 Even so, support from spot rates could see bulls aim for Q1 2019 highs of between 13 cents and 14 cents. Technical Indicators XLM is at a precipice. With a meltdown threatening investors, May 16 bear candlestick leads this trade plan. If there is support with high trading volumes exceeding 5.45 million of May 16, XLM may snap back to trend as buyers aim for 14 cents. Conversely, losses below 7 cents at the back of increasing participation spells doom for XLM. Chart courtesy of Trading View. Image Courtesy of Shutterstock<\/p>\n","protected":false},"author":384,"featured_media":347591,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[16724,3970,12220],"class_list":["post-389567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-jesse-lund","tag-stellar","tag-xlm"],"acf":[],"yoast_head":"\n<title>Stellar Lumens (XLM) Down 50% Since IBM Parted Ways With Jesse Lund<\/title>\n<meta name=\"description\" content=\"Since Jesse Lund departure from IBM, Stellar Lumens (XLM) has been in a downtrend. 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In the last day, the coin is down 8.1 percent.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/stellar-lumens-xlm-down-50-since-ibm-parted-ways-with-jesse-lund\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-11T18:00:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T16:19:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-alts2.jpg?fit=1200%2C600\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dalmas Ngetich\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Dalmas_Ngetich\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dalmas Ngetich\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/stellar-lumens-xlm-down-50-since-ibm-parted-ways-with-jesse-lund\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/stellar-lumens-xlm-down-50-since-ibm-parted-ways-with-jesse-lund\/\"},\"author\":{\"name\":\"Dalmas Ngetich\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586\"},\"headline\":\"Stellar Lumens (XLM) Down 50% Since IBM Parted Ways With Jesse Lund\",\"datePublished\":\"2019-07-11T18:00:03+00:00\",\"dateModified\":\"2024-06-11T16:19:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/stellar-lumens-xlm-down-50-since-ibm-parted-ways-with-jesse-lund\/\"},\"wordCount\":450,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/stellar-lumens-xlm-down-50-since-ibm-parted-ways-with-jesse-lund\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-alts2.jpg?fit=1200%2C600\",\"keywords\":[\"jesse lund\",\"stellar\",\"XLM\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wncen.com\/news\/stellar-lumens-xlm-down-50-since-ibm-parted-ways-with-jesse-lund\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/stellar-lumens-xlm-down-50-since-ibm-parted-ways-with-jesse-lund\/\",\"url\":\"https:\/\/wncen.com\/news\/stellar-lumens-xlm-down-50-since-ibm-parted-ways-with-jesse-lund\/\",\"name\":\"Stellar Lumens (XLM) Down 50% Since IBM Parted Ways With Jesse Lund\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/stellar-lumens-xlm-down-50-since-ibm-parted-ways-with-jesse-lund\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/stellar-lumens-xlm-down-50-since-ibm-parted-ways-with-jesse-lund\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-alts2.jpg?fit=1200%2C600\",\"datePublished\":\"2019-07-11T18:00:03+00:00\",\"dateModified\":\"2024-06-11T16:19:36+00:00\",\"description\":\"Since Jesse Lund departure from IBM, Stellar Lumens (XLM) has been in a downtrend. 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In the last day, the coin is down 8.1 percent.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/stellar-lumens-xlm-down-50-since-ibm-parted-ways-with-jesse-lund\/","og_locale":"en_US","og_type":"article","og_title":"Stellar Lumens (XLM) Down 50% Since IBM Parted Ways With Jesse Lund","og_description":"Since Jesse Lund departure from IBM, Stellar Lumens (XLM) has been in a downtrend. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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