A cryptocurrency expert from Coin Bureau published a forecast for the digital coin Stellar Lumens (XLM) for 2022. The trader under the pseudonym Guy emphasized that the price of the virtual asset is now much lower than it should be. In his opinion, the situation may change next year, and the rate of XLM will reach its new historical highs.
The analyst said that the reason for undervaluation was the pressure on the management of Stellar Development Foundation (SDF). The expert noted that since its creation, this organization has received only $3 million as an investment in the development of the ecosystem of Stellar Lumens. As a result, the creators of the project had to sell some of their own XLM in order to invest in the expansion of the product.
Guy praised the management of Stellar Lumens for making it as transparent as possible. The developers sold about 3 million XLM ($ 810 thousand) in 2021. Also the creators of the project said that, as originally planned, will sell their own XLM in portions, to further invest these funds to improve the product and the creation of new services.
An analyst from Coin Bureau said that the main reason for the undervaluation of the virtual asset is the lack of high demand combined with the fact that the representatives of SDF have to sell their tokens.
According to the expert, institutional investors also did not get involved in buying XLM because of its potential similarity to another virtual currency, Ripple (XRP). The latter has a huge problem with the U.S. Securities and Exchange Commission (SEC). The regulator claims that XRP is unregistered.
Stellar Lumens and MoneyGram
However, Guy noted that a lot may change in 2022 thanks to a partnership with MoneyGram. Earlier on its official website, the company announced the launch of a pilot project with SDF. The partnership agreement will include a unique system for buying cryptocurrencies for fiat.