Stellar Development Foundation (SDF) partners with Satoshi Pay, wherein the former has thoughtfully invested $550k for supporting the future growth and product development of Satoshi Pay. Satoshi Pay first came in contact with the SDF in 2017, and since then, both have been working towards the growth of the ecosystem.
The contributions of these two combined have been under the areas of the network, user acquisition, wallet, research, technology, community, and standardization. With only a few nodes besides the SDF servers in 2017, the Collab of two has now bring in over 100 nodes in the network, which is amazing for the community.
Moreover, the amount for the deal was paid in the native currency of the network, i.e., XLM. The stats of the transaction have been quite phenomenal, which took only 5 seconds to transfer 8,204,187 XLM between Satoshi Pay and Stellar Development Foundation.
Similarly, just as the timely transfer from SDF to Satoshi Pay, the latter is looking forward to developing a new SatoshiPay B2B that can hold features such as instant opening up, transparent, and low-fee money transfer. The two are looking forward to a long-term partnership in order to benefit the community and pass the advantages of deployed technology to the potential networkers.
XLM Price Analysis
Stellar (XLM), at the time of penning down this analysis, was trading at $0.0789 against the US Dollar and held steady support from the moving averages. Moreover, if we take an emphasized look on the two-month chart of XLM/USD on Coinbase, we see that the price trend of the pair has been growing slowly yet steadily. However, over the past month, the coin was holding a flattish momentum on the 5-hourly chart against the greenback and had hit the lowest at $0.0600. Stellar is hitting the 3-month long resistance with increased momentum, and as per the current traction, it is holding a bullish momentum.
The technicals hold a bullish crossover due to a bullish start to the month, and thereby the MACD line is seen crossing above the signal line. Similarly, the RSI of the Stellar Lumens is standing at 69.47 and is already hitting around the overbought zone due to bullish momentum.