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4 Reasons Stellar (XLM) Will Reach $1 Sooner Than You Think
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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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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