As like most of the cryptocurrencies, it has been good last 24 hours for Stellar (XLM) too, as it performs well in the market. Jumping by $0.025 or 6.81% and moving within touch of $0.4 level, the digital currency this week marked a new recent high.
Stellar Lumen is trading and can be purchased for about $0.3835 against the dollar or 0.000041 BTC on exchanges that include the likes of Ripplefox, Kraken, Mr. Exchange, and Bitcoin Indonesia.
Over the last week, Stellar Lumen’s trade went up 31.8% against the dollar and was seen to be the best performing coin among the unicorn digital currency group. Stellar XLM has a total market cap of $6.85 billion, and during the Asian trading hours, the digital currency trade volumes went as high as $79 million worth of Stellar. The genesis date of Stellar Lumen (XLM) was July 19th, 2013. Its circulating supply is 18,569,653,891 coins and its total supply is 103,867,241,052 digital coins.
Ranked as the 8th most important currency in the crypto market, Stellar (XLM) is a public infrastructure for money and has proof types and operates under algorithm. For a month, XLM coins have gone up close to 70% from $0.24 for coin leading other digital currencies like OMG, NEM, XMR, IOTA, and ADA.
But, what might be the reasons behind Stellar Lumen’s (XLM) merriment before the end of April?
Analysts believe several reasons might be behind XLM steady rise but the most notable one is considered to be the critical collaboration of the coin with IBM, Novatti, and other major companies. With the partnership with Novatti, a payment service provider, XLM increases the prospectors of interoperability between diverse financial currencies and systems having XLM as the primary cryptocurrency for international payments.Thus, making this coin a good investment.
The digital money enables transactions between people, companies, and other institutions as easy as sending an email. This means easy access for individuals, more revenues for firms, and lower transaction costs. But, here I’d like to pinpoint deeper as to why the new rally for Stellar is highly possible. So, positive activities that are propelling Stellar towards the positive direction include: –
Stellar Inflation Pool
XLM does not use proof-of-stake like Casper POS implementation as Ethereum and Bitcoin do. The digital coin also does not use a dividend reward system. So, how do you receive rewards? The answer is inflation. Recently, XLM announced the distribution of 100,000 digital coins weekly to its members. Distribution of fees and inflation used in the member’s community is based on the voting powers they possess by looking at the number of XLM Lumens the individual owns.
The distribution of the Lumens is done free of charge requiring the account holder to only have Lumens in their account. You can Join an XLM Inflation Pool by using various wallets that are partnering with Stellar. With such a community-friendly thing going on, we can only except the good things to happen with this coin.
The announcement by Lobstr wallet that they would be supporting XLM assets has made the cryptocurrency community excited. After joining and setting up a wallet account and depositing Lumens, users will be able to send and receive different digital coins on the platform.
We're excited to announce @StellarOrg ASSETS SUPPORT coming soon to LOBSTR wallet! 🎉
You'll be able to send and receive multiple Stellar tokens (besides XLM) on https://t.co/MTDeJfOW9O and in our Android/iOS apps. 🖥️ 📱
— LOBSTR Stellar Wallet (@Lobstrco) March 26, 2018
A number of tradeable currencies that could be available include KIN, Smartlands, Ternio, and Mobius. Although not yet released, the Lobstr wallet will be open and accessible on Android, and IOS gadgets leading to high anticipation and increased interest towards the coin.
Repo Coin Airdrop
The Repo Coin is a platform that uses XLM protocol for token operation as a substitute of the traditional ERC20. The main aim of Repo Coin is to solve issues relating to non-payment and insecurities by debtors towards lending companies with the aid of technology and business solutions. Like the XLM program, account holders need to have a minimum of 3 XLM in their wallets (not at an exchange, though) to qualify to participate in the airdrop. By participating, it sets them to get $100 worth of Repo digital coin.
Consequently, the three events I discussed above have got the exceptional potential to get new investors on board with Stellar (XRM). All indications show that if the market remains the same and all factors constant; this should be the beginning of high trade volumes and steady climb for the coin.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Several seconds via Flickr
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
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