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4 Reasons Stellar (XLM) Will Reach $1 Sooner Than You Think

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It is self-evident that the crypto-markets are going through some rough times with the total market capitalization having lost approximately 20% in a single week. Bitcoin (BTC), being the King Of Crypto, has dropped from February levels of $11,500 to current levels of $7,300. The BTC drop has also affected all the other cryptocurrencies including Stellar (XLM). The coin is currently valued at $0.274. However, XLM has seen better days in early January when it was valued at $0.91.

$0.91 per XLM in January

So why will XLM make it to $1?

To begin with, and observing the graph above, the rise to $0.91 was not gradual, but rather a spike over 3 or 4 days that began on December 20th when XLM was valued at $0.21. Back in December and January, the crypto-markets were experiencing some exciting times due to the entry of new individual and institutional traders. The latter happening with the offering of BTC Futures on December 17th.

A similar rally is expected when BTC bottoms out at around $5,500 to $5,700 somewhere in mid to late June. Therefore, XLM could be headed for a big ride also.

A second reason why XLM will make it to $1, is the current relationship the project has with IBM. The Stellar blockchain will be used to launch a token that will help track carbon credits. This means that XLM will gather the global attention of the said large institutions that deal with large carbon emissions through their day to day operations. Most of these firms are on the Fortune 500 list and also keen on new investment avenues.

The third reason, and still on IBM, is that the latter currently has 9 XLM nodes to aid in the cross-border settlement of payments across the globe. XLM is used in the inner workings of the service as a way of sourcing instant liquidity that is then converted to regular fiat at both ends of the transaction. Also on the issue of financial services, several global central banks have expressed interest in launching their own cryptocurrencies on the Stellar blockchain.

The fourth and not exactly the last reason for XLM to rally to $1, is the recent partnership XLM has with the Kin (KIN) project. The team at Kin has decided to fork the XLM blockchain to provide a hybrid solution to its platform. This will allow the Kin ecosystem to be faster, more efficient and with low transaction fees. The use of the Stellar blockchain by Kin will also lead to more projects opting for Stellar to the other options out there such as Ethereum.

In conclusion, the above four outlined reasons will be a contributing factor to XLM reaching the much anticipated $1 value later this year. All we have to do is wait and let the current market decline to bottom out with expectations of a rally afterward.

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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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Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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