Stellar (XLM) Supports FedNow Payment System

Bittime - Stellar Lumens (XLM) was announced to support FedNow, the United States Federal Reserve's instant payment system. So, what is the impact on the XLM coin? Check out the review!

For crypto activists, this is a very interesting development. Because, this means that Stellar will be integrated with official payment systems that can affect millions of financial transactions around the world. 

Along with this announcement, the price of XLM experienced a significant spike, illustrating the optimism of investors who hope that this project will become a major player in the international payments ecosystem. 

How does this impact the future of XLM and what does it mean for investors and users? Let's look further.

What Is FedNow and Why is Stellar (XLM) Involved?

FedNow is an initiative of Federal Reserve which aims to provide a 24/7 instant payment system for all users in the United States. With FedNow, users can make money transactions in seconds. 

Users can also make transactions without having to wait for the next working day like in traditional payment systems. This system is expected to increase the efficiency of the domestic payment system and provide easier and faster access to digital finance for the public.

Then, how Stellar Lumens (XLM) involved in this great initiative? Stellar, known for its ability to provide blockchain solutions for cross-border payments, was selected to support FedNow's system infrastructure. 

XLM, as the native token of Stellar, will serve as a medium for more efficient instant payment transactions, replacing slower and more expensive traditional systems.

For Stellar, its involvement with FedNow doesn't just increase its credibility. However, this collaboration also opens the door to wider adoption in the world of digital finance. 

With coins XLM serving as an integral part of these payment systems, these tokens may experience a significant spike in demand from financial institutions and their users.

Read also: Stellar (XLM) Facts and Key Points: Everything You Need to Know!

Impact of Stellar's Engagement with FedNow on XLM Price

Source: AMB Crypto

Since this announcement appeared, XLM price experienced a significant increase. Some reports indicate that XLM strengthened up to 61% from its lowest price in November 2024, and even recorded an increase 235% throughout that week. 

This price spike could be a direct impact of market optimism regarding Stellar's integration with FedNow.

Read also:Stellar (XLM) Price Prediction Analysis 2024, 2025, and 2030

XLM Price Prediction

Along with strengthening demand marked by a surge in prices, many argue that XLM could become one of the most promising crypto assets in 2025. 

His involvement in major projects such as FedNow, coupled with its exceptional performance from November to date, provides a positive signal for long-term investors.

However, despite the potential for further price increases, the high volatility of the crypto market must still be taken into account. Therefore, even though there is potential for huge profits, investors are still advised to be careful and carry out in-depth research before deciding to invest in XLM.

Read also: These 10 Stellar (XLM) Functions Make You Even More Confident in Becoming a Holder

Conclusion

View the latest developments and announcement of Stellar's involvement with FedNow, there is no doubt that XLM has a great opportunity to grow in the global crypto market. 

Demand for these tokens has soared and adoption is becoming more widespread. This indicates that XLM can be more than just a cross-border payment tool.

Thus, Stellar Lumens And XLM coin is now increasingly worthy of attention as a potential crypto asset. As instant payment solution And platform blockchain which is increasingly accepted by the financial world, XLM has the opportunity to become one of the leaders in the crypto industry in the future.

FAQ About Stellar (XLM)

What is Stellar XLM?

Stellar (XLM) is a decentralized peer-to-peer network that is often considered XRP's main competitor. Where XRP looks to banks, Stellar (XLM) is a form of payment designed from the ground up with the masses in mind. Fast and cheap everyday purchases are what Stellar excels at.

Will Stellar hit $10?

Stellar XLM has the potential to reach $1 in the near future, but the coin can be considered challenging to cross the $10 threshold in the near future. However, this does not mean that this coin has no potential; anything is possible in the highly volatile crypto market.

Can XLM reach $1 US dollar?

Crypto analysts are optimistic that XLM price can surge and reach $1 by December. Stellar Lumens has formed a bullish pennant chart pattern, indicating more gains. XLM's rally will depend on Ripple (XRP)'s next price action.

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Reference 

WITH Crypto, AMB Crypto article, accessed December 4, 2024.

Gov Capital, article Gov Capital, accessed December 4, 2024.

Author: Y