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.
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TRON Partnership Involves Cloud Computing
It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.
— Justin Sun (@justinsuntron) October 12, 2018
Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.
Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.
However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.
Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?
Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.
It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.
The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.
China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.
Furthermore, the country has adopted several…
Ravencoin (RVN) Surges Following Binance Listing
While most cryptocurrencies today still remain unstable and at the edge of falling into the red, there are some coins that are doing significantly better. One such coin is Ravencoin (RVN), which has surged by over 26% in the last 24 hours.
Ravencoin came to be as a hard fork of Bitcoin and was inspired by a popular book series-turned-television programme, Game of Thrones. The coin’s developers decided to make Ravencoin an open-source project that provides users with the ability to declare assets on their platform. The platform itself is decentralized, transparent, and secure.
Just as Game of Thrones’ ravens are used for spreading the news and truth, Ravencoin hopes to become a carrier of truth regarding the ownership of assets on the blockchain.
Ravencoin’s main use case is for performing P2P transfers, while it prioritizes security, autonomy, user privacy, and control. Additionally, as a coin fighting for truth and transparency, it also stands against censorship.
Ravencoin got listed on Binance prior to MainNet launch
Following the last week’s announcement that Ravencoin is getting officially listed on Binance, the world’s largest cryptocurrency exchange ba trading volume, Ravencoin experienced a large price surge. At one point, the surge took the coin’s value up by over 31%. At the time of writing, however, the coin is still growing, with an increase of 26.15% in the last 24 hours.
Getting listed on Binance has brought Ravencoin to the top…
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