The owner of cryptocurrency channel Coin Bureau talked about what could happen to the price of Stellar (XLM) next year after the lackluster performance of its XRP rival in 2021.
In a new video, analyst Guy stated that while Stellar (XLM) has doubled its price this year, the altcoin’s gains are “light” compared to the performance of other crypto assets.
According to Guy, Stellar’s low price performance can be attributed to one root cause: sales pressure from the Stellar Development Foundation (SDF), a nonprofit organization dedicated specifically to the development and growth of the Stellar network.
Guy also says that in addition to the constant selling pressure, XLM doesn’t seem to have much of a demand factor. According to the crypto analyst, institutional investors are staying away from the crypto asset, possibly due to regulatory uncertainty regarding XRP.
But Guy says the positive results from SDF’s partnership with MoneyGram could allow XLM to bounce back to its record high of $0.87 on January 3, 2018.
In October, the remittance giant announced that it had integrated the Stellar blockchain into its network, providing cash financing and payments in local currency for consumers using Stellar USD Coins.
XLM, at time of writing 0. 286089 was trading at the dollar.