One of this quarter’s major milestones is Project Jump Cannon which is set to provide Stellar with a \u201crobust execution environment for smart contracts\u201d. In January, this network announced the implementation of smart contracts with a tentative launch date set for December 2022.<\/a><\/p>\n The announcement was made by Tomer Weller, Vice President of Technological Strategy at the SDF, who has been supervising the implementation of these capabilities with WebAssembly (WASM) runtime. The SDF claims WASM will provide its smart contracts with a secure, scalable, and easily accessible environment.<\/p>\n In addition, the SDF claimed the network has benefited from the introduction of Protocol 19. This update facilitates the \u201ccreation of payment channels\u201d or second-layer payment solutions that support \u201chigh-throughput use cases\u201d, the report claims.<\/p>\n The Stellar network also expanded its ecosystem in Q2, 2022, with the deployment of MoneyGram Access. Global crypto to fiat on\/off ramp financial service that allows MoneyGram customers to send and receive remittances without the high cost of using legacy payment rails.<\/p>\n The SDF has been consolidating major partnerships with international exchange platforms, such as with CoinMe and Mercado Bitcoin. The organization also announced that Novatti will deploy a digital version of the Australian Dollar (AUD) on the Stellar network.<\/p>\n Despite the network updates, partnerships, and use cases, Stellar (XLM) is reacting to the macro-economic environment. The milestones announced by the SDF are counterweighted by a global economic environment of high inflation, interest rates hike, and less liquidity across global markets.<\/p>\n On short timeframes, XLM\u2019s price records important support below its current levels. Data from Material Indicators shows there are around $1 million in bid orders waiting to potentially operate as support if the price of XLM continues to move to the downside.<\/p>\n Material Indicators record an increase in buying pressure from small investors. Unless larger investors jump into the market with bid orders, this trend suggests a potential re-test of lower levels.<\/p>\n XLM\u2019s price and the crypto market could see a push to the upside if U.S. public companies\u2019 earnings season contributes by showing positive results, Director of Macro for investment firm Fidelity Jurrien Timmer hinted at that possibility.<\/p>\n Q2 earnings are encouraging so far, but remember, we have 9% inflation, and earnings are generally considered in nominal terms. So there is less than meets the eye here. Expected earnings growth for 2022 remains at +10%, but without the energy sector, it’s only +4.3%. pic.twitter.com\/HLSIfjWGoC<\/a><\/p>\n![\"XLMUSDT](\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/07\/XLMUSDT-XLM-Stellar.png?resize=860%2C376\")
Stellar Faces Macro-Economic Headwinds<\/h2>\n
![\"Stellar](\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/07\/Stellar-XLM-XLMUSDT.png?resize=722%2C375\")
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