The cryptocurrency market displays a variety of trends. Stellar continues to gain momentum, while Monero faces challenges following a recent attack. The BlockDAG project attracts attention for its successful presale.
Predictions for Stellar
Stellar (XLM) shows signs of strength as it approaches higher targets. The current price is around $0.43, above the 20-day moving average at $0.42. Analysts note $0.47 as the key level. If this level is broken, movements toward $0.52, $0.57, and even $0.70 look possible. Predictions from InvestingHaven suggest potential highs at $0.87, while conservative estimates range from $0.48 to $0.57. Overall positive sentiment is supported by a neutral RSI at 52.74 and expanding Bollinger Bands.
Monero's Issues Post-Attack
Monero (XMR) faced turbulence following a 51% attack, raising concerns about centralization. On August 15, Kraken halted deposits for security purposes. The issue arose from Qubic, led by IOTA co-founder Sergey Ivancheglo, claiming control over more than half of Monero's hash rate. This could enable double spending and censor transactions. The market reaction was volatile: XMR fell over 10%, followed by an additional 5%, before bouncing back nearly 12% over the past 24 hours. Despite the rebound, Monero is still down 4% on the weekly chart.
Achievements of BlockDAG
Amid changes in Stellar and Monero, BlockDAG (BDAG) captures attention due to its successful presale raising over $388 million. The development is priced at $0.03 in this stage, a jump of 2,900% from its initial $0.001, with a launch target of $0.05 in sight. Key achievements include Dashboard V4, providing users with real-time visibility of trading operations. In a demonstration, X1 and X10 miners for Proof-of-Engagement have attracted over 3 million users, showcasing high engagement levels.
The contrasting paths of Stellar and Monero highlight the diversity of the crypto market. Stellar demonstrates technical strength, while Monero deals with the aftermath of an attack. On the other hand, BlockDAG continues to gain popularity through its presale success and readiness for launch.
