• Stellar Lumens (XLM) has recently broken out of a bearish range and is now exhibiting bullish behavior.
• Brazil’s Central Bank launched its experimental CBDC, Digital Real on the Stellar blockchain network.
• A new smart contracts platform called Soroban has released its second preview to increase scalability and user-friendliness.

Stellar Lumens (XLM)

Stellar Lumens (XLM) had been trading within a bearish range since mid-January, but has recently broken out of it. This shifted XLM’s bias from bearish at range highs to strongly bullish. In the event of a pullback, bulls will have a good buying opportunity in the $0.096-$0.099 range which was the unbroken resistance that had lasted since November. If XLM’s pullback fell below $0.09, a drop below $0.096 would be required to shift the bias back towards bearish.

Brazil’s Central Bank

Early this month, Brazil’s central bank launched the pilot for its experimental central bank digital currency (CBDC). The test for Brazilian CBDC, Digital Real, is taking place on the Stellar blockchain network. Soon thereafter, Pendulum announced the release of the Spacewalk bridge that connects the Polkadot infrastructure to Stellar’s blockchain so Polkadot can access fiat and stablecoin currencies which will allow Polkadot to access the entire infrastructure created by Stellar – especially related to cross-border payments.

Stellar Platform

The trust of large institutions in the Stellar network is a primary reason for its strong market presence as it is today one of the best platforms for facilitating faster and easier international financial transactions based on a decentralized on-chain protocol; where individuals are more interested in stellar than organizations due to small amount payments with simple user interface enabling real time transactions anywhere in world in five seconds or less .

Soroban Smart Contracts Platform

A new smart contracts platform called Soroban has released its second preview upgrade intending to increase platform developer friendliness, scalability and sensibility over Ethereum which transitioned last year from proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS).

Conclusion

Overall, these developments highlight how quickly users are gaining trust in Stellar’s blockchain technology as well as how accessible it is becoming for developers looking for an efficient platform that can facilitate quick international financial transfers and provide developers with better services like smart contracts platforms that provide scalability solutions over PoW networks such as Ethereum

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