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- Stellar Lumens (XLM) has partnered with Nansen for comprehensive on-chain analytics on its wallet behaviour, etc.
- An analyst has predicted that XLM could hit $0.92 and continue to peak at $2.4 once it breaches the $0.62 level.
Leading on-chain analytics platform Nansen AI has announced a strategic partnership with Stellar Lumens to provide advanced on-chain analytics for Stellar’s blockchain. According to the report, the Stellar community, including investors and developers, would now be able to access a comprehensive insight into wallet behaviour, transaction activities, and performance of the ecosystem to make informed decisions.
We’re thrilled to announce our integration with @StellarOrg, the blockchain revolutionizing cross-border payments with speed, efficiency, and low fees. This brings Stellar’s ecosystem data to Nansen, equipping developers, investors, and the Stellar community with actionable… pic.twitter.com/JV8FiZSwcJ— Nansen 🧭 (@nansen_ai) January 15, 2025
Commenting on this, the CEO of Alex Svanevik, highlighted that this collaboration is a crucial step towards the realization of its mission to provide meaningful insights to its users.
We’re excited to integrate Stellar data, unlocking valuable insights for our users. This integration allows us to surface the signal and create winners in the blockchain space, empowering investors, developers and businesses with the analytics they need to thrive.
More About the Partnership
Over the years, Nansen has operated on “surface actionable and data-driven insights.” Its partnership with Stellar would usher them into the blockchain ecosystem, which focuses on financial inclusion and interoperability. Meanwhile, Stellar Lumens has cemented its role as a cross-border payment giant known for facilitating transactions at lower fees and faster settlement speeds.
In October 2024, MasterCard also announced that it has integrated Stellar’s blockchain into its Crypto Credential solution, per a CNF report. Explaining the game-changing features that distinguish Stellar from competitors, the CEO of the Stellar Development Foundation, Denelle Dixon, pointed out the ability of the blockchain to solve real-world problems.
The Stellar network was designed to be fast and affordable and to demonstrate blockchain technology’s ability to solve real problems for people. Collaborating with Mastercard to integrate Mastercard Crypto Credential into the Stellar ecosystem will make transferring funds safer and faster, enabling a wide range of use cases and further driving adoption of blockchain technology.
XLM Price Analysis
Amid the backdrop of this groundbreaking partnership, the price of XLM appears to be making headway into a price discovery as it breaks key resistance levels to hit $0.47 at press time. Meanwhile, the asset just formed a new monthly high at $0.4929 with a weekly surge of 16%. This bullish trend is also supported by the daily trading volume which has surged by 61.8% in the last 24 hours to reach $1.84 billion.
The current trend is a complete turnaround from last week’s market movement when a significant amount of the asset ($36 million) was transferred to exchanges. As mentioned by CNF in a news piece, this signalled a massive sell-off by long-term holders who had made 300% gains in three months.
Commenting on the current price action, an analyst identified as Charting Guy highlighted that the $0.62 level could be a crucial resistance level.
According to him, this level was found in late November and early December. A break above this point could see XLM targeting its all-time high price of $0.93. By the end of the cycle, XLM is expected to touch the $2.46 mark, coinciding with a recent CNF report.
