Stellar has rolled out the world’s first nationwide On-Chain Universal Basic Income (UBI) program in the Marshall Islands. This is a major milestone for the adoption of blockchain technology. This week, the Stellar Development Foundation (SDF) announced the deployment of the UBI program. This allows social payments to be sent directly to citizens.
This initiative also shows the applicability of blockchain technology outside of trading or payment systems. The Marshall Islands government seeks to enhance transparency, efficiency, and security in the delivery of welfare programs through the utilization of the decentralized network of Stellar.
According to Denelle Dixon, “Delivering the first blockchain-powered instance of nationwide Universal Basic Income is what the Stellar network was built to power.”
Stellar (XLM) Holds Key Long-Term Support
Market analysts are keeping a close eye on Stellar’s native token, XLM, in relation to UBI’s deployment, as it may impact general trends of adoption. Currently, it is valued at approximately $0.21, a crucial support area for the token. Market analysts predict that if global trends of adopting this technology grow, then this token’s long-term outlook is likely to become increasingly bullish for investors.
Source: Lucky
The crypto analyst, Lucky, suggest the asset might reach the potential price point of $0.51 if the market improves and the bullish trend continues to gain momentum. It is worth paying attention to the support and resistance points for the asset.
Technical Outlook Suggests Consolidation Phase
From the weekly XLM chart, it can be seen that the price experienced a strong impulsive move in the initial weeks of 2025, which was then consolidated for a long period. The price is currently below the 20-week EMA as well as the 50-week EMA, but it’s still trading above the 200-week EMA., suggesting a broader bullish structure.
Source: TradingView
Currently, Bollinger Bands are showing a contraction in volatility, and recent candles are moving closer to the lower band, which is a selling pressure indicator and a point of indecision.
Also Read: Stellar (XLM) Set to Soar: Price Targets $0.255–$0.570 Revealed
