Stellar Market Update: Stellar Lumens now supported on Binance Trust Wallet App

The Malta-based cryptocurrency exchange Binance announced on March 27 that its wallet application, Trust Wallet has added support for Stellar Lumens (XLM). The support included other tokens like Thunder Token (TT), Kin (KIN), Nimiq (NIM), and Aion (AION).

Binance acquired the Trust Waller in July 2018. However, the wallet was initially released on October 25, 2017, with support for Android devices only. Moreover, the only digital assets that were supported on the app was Ethereum (ETH) and other Ethereum based tokens. Following the acquisition by Binance, other cryptocurrencies were added including Bitcoin, Bitcoin Cash, Ethereum, XRP, Litecoin, Ethereum Classic, and EOS among others.

The co-founder of Trust Wallet, Viktor Radchenko had this to say following XLM support:

“Adding support to Stellar’s XLM on Trust Wallet is a result of our community’s overwhelming request and our response to it. Additionally, the Stellar team has made it easy for our development team to get XLM integrated to our wallet with its robust technical groundwork and tools that allowed the integration to be process fast, reliable and easy.”

Stellar price overview

Stellar currently trades at $0.1042 and is between the 100 SMA support and the longer term 200 SMA resistance. Moreover, XLM continues to trend higher within the confines of a rising channel since the beginning of February. Stellar retested the supply zone at $0.12 on March 18 but the momentum was rejected leading to lower corrections. In the short-term, the trend appears to be bearish with indicators like the RSI changing direction downwards.

More to follow on XLM/USD price analysis and Coinbase Earn support.

XLM/USD 4-hour chart