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Circle, a leading player in blockchain-based financial services, has unveiled an innovative contract platform, allowing DeFi companies to utilize smart contracts through languages like Python and JavaScript. Market experts are currently assessing the potential impact on cryptocurrencies, specifically Stellar (XLM). The Stellar Development Foundation previously introduced Soroban, a smart contract product, with Tomer Weller, VP of Product, leading the initiative.
Circle To Launch New Smart Contract Platform – Implications for #Crypto Assets$XLM $TRXhttps://t.co/Y9gqJnTPvk
— Captain Altcoin (@CaptainAltcoin) October 25, 2023
The Foundation envisions a future abundant in DeFi, positioning Stellar (XLM) at the forefront of this evolution. Stellar (XLM) experienced a notable 6.73% surge in the third week of October, attributed to advancements within its ecosystem. Analysts predict Stellar (XLM) could reach $0.1700 by Q4 2023, driven by Circle’s new platform that boosts Stellar’s accessibility and support. This development signals an imminent bullish trend for Stellar (XLM) investors.
Stellar Key Levels To Watch: October 25
The breakout from the second quarter’s diagonal resistance led to a massive expansion to the upside. The MACD (Moving Average Convergence Divergence) crossed the zero line alongside the breakout.
The emerging uptrend continued until a major high formed at $0.19600. The market has successfully broken another diagonal resistance, and MACD seeks to return above the zero line.
Stellar Key Levels
Resistance Levels: $0.13500, $0.18100, $0.19600
Support Levels: $0.11100, $0.09500, $0.07500
XLM Metrics
Total Market Capitalization: $1.27T
Stellar Market Capitalization: $3.2B
Stellar Volume: $111M
Market Rank: #23
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