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- 1 The Stellar is at the major support and trying to rise in the last couple of days.
- 2 The price of the Stellar is $0.109330 and developing strength on the charts.
- 3 Stellar has recently collaborated with Certora to enhance the security of soroban.
As per Stellar itself on the CoinMarketCap website on October 13th, Stellar and Certora announced a new collaboration to enhance the security of Soroban.
Stellar is a peer-to-peer decentralized network that enables fast and low-cost cross-border payments, and Certora is a leading security firm that provides formal verification tools for smart contracts.
It has announced a new collaboration to enhance the security of Soroban, the smart contract platform on the Stellar network. This collaboration will leverage the formal security verification technology of Certora, which has worked with many prominent DeFi projects such as SushiSwap, Aave, Compound, and Balancer.
Soroban is an advanced smart contract platform that uses WASM, or WebAssembly. Which is a binary code format that enables compatibility with various programming languages and tools.
Soroban allows developers to create and deploy smart contracts on the Stellar network using their preferred language and framework. Soroban is expected to launch soon and will enable a new wave of innovation and adoption for Stellar.
However, smart contracts are complex pieces of code that can handle large amounts of value and data. They need to be secure and reliable, otherwise, they can cause serious losses and damages.
Certora has developed a formal verification tool for Soroban that will help ensure the security and quality of Soroban smart contracts. Certora would also participate in the Soroban Audit Bank Initiative, a program which aims to provide audits and reviews for Soroban smart contracts.
By partnering with Certora, Stellar, and Soroban are demonstrating their commitment to security and excellence for their platform and their community. This collaboration also marks a historical milestone as the FIRST WASM-powered project to partner with Certora.
This collaboration is expected to fortify the foundation of blockchain security, ensuring trust and reliability in the digital age. It is also expected to attract more developers and users to the Stellar network and the Soroban platform, as well as generate more publicity and awareness for the project.
The collaboration with Certora may affect the price of Stellar (XLM) in a positive way. As it could increase the confidence and trust of the developers and users in the security and quality of Soroban smart contracts.
Soroban is expected to enable a new wave of innovation and adoption for Stellar, which could boost the demand and value of XLM as the native token of the network.
Moreover, the XLM coin has shown good performance in six months as it rose by 14.96% and by 53.16% in the past year to date.
What Technical Tools Have to Say About Stellar?
At the time of publishing, Stellar (XLM) is trading in between the 20 and 50-day EMAs (exponential moving averages).
The current value of the RSI is 50.03 points and the 14-day SMA is below the medin line at 37.39 points, and took support from 14 SMA.
The MACD line at 0.00223405 and the signal line at 0.00298921 is below the zero line both lines cross each other forming a bullish crossover in XLM. Also, the histogram is broadening which is a good sign showing that the price is turning bullish.
Conclusion
The Stellar price is showing strong bullish signs on the daily chart, suggesting that the XLM price could keep rising from the support level, if it attracts more buyers. The Stellar price also reflects the positive sentiment and outlook of the investors and traders towards the XLM on the daily chart. The XLM price is anticipating an upward trend and indicating a potential rally at the time of writing.
Technical Levels:
- Support levels: $0.096483 and $0.074024
- Resistance levels: $0.134489 and $0.157497
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.