XLM is dropping as Bitcoin resists to reach $57,000.
Stellar (XLM) is one of the stellar cryptocurrencies in the market. It has remained among the top digital assets in the market since Bitcoin surfaced on the big screen back in 2017.
After the big bull run that got the attention of the entire world, a couple of years ago, the crypto market lost millions in the bearish run. However, following that event, the belief started to build among investors that Bitcoin is the future and would see many such bull runs in the future. So, here we are and the market is rocking once again. Stellar is part of the top crypto group has its significance among investors.
XLM has dipped severely since February 19, 2021, but most indicators of XLM rely upon the market trend, overall, which is quite positive.
Stellar (XLM) will be going live tomorrow as part of the Stellar Open Protocol Discussion. The event is XLM’s bi-weekly meetings in which the team discusses and plans for the required or potential changes to upcoming versions of Stellar Protocol.
In this week’s meeting, Stellar’s team will focus on proposed changes to CAP-21, which generalizes the time Bounds field in transactions supporting circumstances such as relaxation of sequence number checking and information of relative time locks. The main objective of this proposed revision is to induce relative time locks for payment channels. Furthermore, to enhance and expand the abilities preconditions on transactions—in general.
The major update for the week is that Stellar has scheduled to reset the test network on March 17, 2021. The testnet is a small test XLM network, run by the Stellar Development Foundation (SDF). Users can use it for free. It works similar to the main public network and is the best place if you’re looking to develop something on Stellar blockchain.
The testnet can operate approximately with a capacity limit of 100 operations per ledger. For removing the issues and to ensure that developers have the best experience while working on the test, the SDF testnet is periodically reset to the genesis (initial) ledger. The reset helps in refreshing the network, removing spam, decluttering the network, maintaining the system over time, and minimizing the time required to catch up to the latest ledger.
Stellar has informed developers to not rely on the persistence of any accounts while using testnet. It’s because following the reset, all the ledger entries, transactions, and historical data would be wiped out from both Stellar Core and Horizon.
However, SDF will work professionally to ensure that developers don’t feel any sort of disturbance during the reset.
Stellar Lumens (XLM) is trading on a lower side compared to the same time last month. As we write this, XLM is trading around $0.407, down by 3.12%. The market is resisting at the moment but it’s signaling that something big may happen before the week—ends.