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Grayscale takes Stellar's XLM to top tier OTC desk as analysts expect prices to explode – FXStreet

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Ekta Mourya
FXStreet

The XLM ecosystem is focused on working for central bank digital currency projects. With new partnerships and updates in the XLM network, analysts expect the altcoin to break out. 
OTC Markets Group Inc, an operator of financial markets for over 11,000 US and global securities, announced the debut of Grayscale Stellar Lumens Trust on their platform. 
The XLM based Trust trades on OTCQX, the premium OTC desk under the symbol "GXLM." Craig Salm, Grayscale's Head of Legal, believes that, 
This is an important milestone for digital currencies and demonstrates the continued maturation of the asset class.
Based on the latest developer update, the team at Stellar Development Foundation continues to prepare to add the ability to support automated market makers (AMM) on the blockchain. The arrival of AMM is expected to enhance liquidity to a large extent, promoting a bullish outlook among experts. 
Bitso, a Latin American cryptocurrency exchange, has started integrating Stellar USD Coin (USDC) for its customers, using USD Coin as a bridge asset between Mexico and the US. Over two million users currently benefit from Stellar's integration at Bitso.
Further, the Stellar Community Fund has 4 million XLM tokens for distributing to projects based on a community vote. The network has asked projects to submit proposals and engage with the process. 
In light of incentives and rewards offered by various protocols and blockchain networks for developing projects on their platforms, Stellar's initiative is attracting key developers in Web3 and dApp ecosystem to the network. 
Cryptocurrency trader and investor @0xdOn recently shared his bullish outlook on the altcoin and stated that Stellar Lumens token (XLM) has high growth potential. The analyst turned around a long position in XLM from $300,000 in unrealized losses on September 28 to $1.5 million in unrealized gains as of October 20, 2021. @0xdOn tweeted:
https://t.co/nIQ1WaQiCC$XLM – If you thought I sold this position, you are wrong.
This coin has a lot of potential for growth.

Was: -300k
Now: +1.5M pic.twitter.com/FVKMHHRuzg
FXStreet analysts have evaluated the XLM price trend, and predicted 85% gains in the altcoin, based on a bottom reversal pattern. 
 

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Terra price struggled to recover after slipping below a stable support level on February 11. This downswing took its time but stabilized and resulted in an uptrend. So far, LUNA is nearing the halfway point of the upswing journey.
AVAX price has been consolidating below a crucial hurdle for roughly three days. Although Avalanche bulls are currently trying to breach this barrier, a bullish retracement might be necessary to finish the job.
Axie Infinity’s latest update to make the gaming economy more inclusive offers free Axies to players. The Origin release is much-awaited for its expansive onboarding experience and opening up the metaverse game to mainstream players. 
Litecoin price has been on a rollercoaster of a journey for the past month or so. Although LTC has lost its market value, it seems to be forming a bullish reversal pattern, suggesting a breakout soon.
Bitcoin price is at an inflection point of its recent uptrend and is likely to reverse and establish a directional bias. If BTC sets a higher low, there is a good chance the rally will continue; else, investors can expect a steep correction.
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