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- 1 According to Reuters, a non-profit organization associated with Stellar co-founder Jed McCaleb plans to provide AI chip rental services.
- 2 Stellar price prediction indicates that XLM crypto may reach the $0.13 mark as it trades inside an interesting recovery pattern.
- 3 XLM crypto is trading above 20, 50, 100 and 200-days daily moving averages.
Stellar price prediction highlights the recovery of XLM crypto towards the $0.13 through this interesting recovery pattern. Meanwhile, more buyers are needed to push XLM out of the $0.12049952 mark. However, the chart shows selling pressure. The neckline needs to be broken so that XLM crypto surges through the rising parallel channel over the daily time frame chart.
Stellar price was at $0.11824000 and lost 0.68% of its market capitalization during the day’s trading session. Trading volume has increased by 79% intraday. This confirms that buyers are still present in the trade to push XLM crypto upwards. Volume to market cap ratio was at 2.99%.
Stellar (XLM) Securing Digital Money System
Stellar (XLM) is a decentralized blockchain platform that enables fast and low-cost cross-border transactions. Founded by Jed McCaleb in 2014, it focuses on facilitating payments and money transfers for individuals and institutions. Stellar’s native cryptocurrency, XLM, plays a pivotal role in the network by serving as a bridge currency to convert various digital and fiat currencies.
Its consensus mechanism is unique, using the Federated Byzantine Agreement (FBA) algorithm, which offers security and scalability. Stellar’s mission is to promote financial inclusion, making it easier for unbanked or underbanked populations to access the global financial system while keeping transaction costs minimal.
Voltage Park and Jed McCaleb Relations – the New Beginning
A non-profit organization associated with Stellar co-founder Jed McCaleb plans to provide AI chip rental services, according to a Reuters report dated October 30th.
Voltage Park, a startup linked to a non-profit organization tied to Stellar co-founder Jed McCaleb, has made a significant investment. They’ve acquired 24,000 Nvidia H100 chips, which are valued at $500 Million. Their plan is to provide these resources as a cloud-based service, making them available for other companies to harness their Artificial Intelligence (AI) initiatives.
According to the Reuters report, Voltage Park is planning to deploy the chips around February 2024 by offering long-term and short-term access plans.
The rental access approach aims to tackle the scarcity of AI chips. While the exact details of chip availability are uncertain, several companies, such as Microsoft and OpenAI, have faced chip shortages, as reported by CNN. OpenAI has explored the possibility of developing its AI chips to address this issue, as per other sources.
In contrast, these Cloud rental models allow small companies and developers temporary access to the AI chips and computer resources.
Voltage Park has ties to Jed McCaleb, a prominent figure in the cryptocurrency world. McCaleb, the co-founder and Chief Architect of Stellar, has also played a role in Ripple’s founding and was a co-founder of the now-defunct cryptocurrency exchange, Mt. Gox.
While Jed McCaleb isn’t directly engaged with Voltage Park, the company operates as a fully-owned subsidiary of McCaleb’s non-profit group, Navigation Fund. As per the latest information, all of Voltage Park’s earnings will be directed to the parent organization, Navigation Fund.
Voltage Park isn’t the sole crypto-related company expanding into the AI and chip rental space. In September, there were reports indicating that the stablecoin company Tether had entered into a partnership with the Bitcoin mining company Northern Data to offer cloud access to AI chips.
However, cloud rentals are currently dominated by major tech giants, like Nvidia and Google Cloud.
What is the Prediction For Stellar 2023?
Stellar price prediction indicates that XLM crypto is struggling to break out from the neckline at $0.12049952. Meanwhile, buyers are trying to register its breakout from the neckline but sellers’ are approaching to initiate the sell offs. However, volume change can be seen below average and needs to grow during the day’s trading session. Meanwhile, XLM crypto is trading above 20, 50, 100 and 200-days daily moving averages.
The most recent Stellar price forecast report hints towards the Stellar crypto’s maximum recovery with around 10% with the Stellar price to be near $0.20 by the end of 2023.
XLM crypto price has gained around 1.92% in a week and 5.49% in a month. However, Stellar crypto slipped by 22.88% in the last three months and 26.64% in the last six months. In addition, Stellar cryptocurrency has gained around 66.77% year to date. This confirms that XLM crypto may gain maximum in 2023.
Technical indicators suggest the downside trend of Stellar crypto. Relative strength index (RSI) shows the downward momentum of XLM crypto. RSI was at 61 and is heading towards neutrality. Investors in Stellar (XLM) cryptocurrency need to wait until it sustains at the neckline.
Summary
Reuters reported that a non-profit organization associated with Stellar co-founder Jed McCaleb plans to provide AI chip rental services. Stellar price prediction highlights the recovery of XLM crypto towards the $0.13 through this interesting recovery pattern. Voltage Park, a startup linked to a non-profit organization tied to Stellar co-founder Jed McCaleb, has made a significant investment. As per the latest information, all of Voltage Park’s earnings will be directed to the parent organization, Navigation Fund. Meanwhile, XLM crypto is trading above 20, 50, 100 and 200-days daily moving averages. Technical indicators suggest Stellar crypto will move with negative momentum.
Technical Levels
Support Levels: $0.11521162 and $0.11062191
Resistance Levels: $0.12049952 and $0.12928673
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Saurav Bhattacharjee is in charge of the Broadcast development team of The Coin Republic.
He has been covering the Metaverse and NFT niche for the past 2 years.
With stellar interviews on his portfolio like Nicehash, Paxful, WallstreetWolvesNFT, Bitholla, Totemfi, EOS.io etc. Saurav has spearheaded the NFT SUPERSTARS AWARD and successfully hosted the first award in 2021.
