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A bunch of bulls pushing Stellar Lumens XLM forward

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Stellar XLM
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The cryptocurrency market has been bearish and depressed for most of the year. Very few assets have managed to remain stable, and most have lost a lot of value over the last seven months. That’s why Stellar Lumen’s XLM‘s performance during July stands out above almost every other coin. It went up to sixth place by market capitalization, taking Litecoin‘s place. It’s one of the few (probably the only) token that grew in value last month which is no mean feat.

A series of exciting news have driven XLM’s growth and, unlike Tron’s equally great news over the month, Stellar’s have translated into market performance. Let’s review the events and partnerships that have propped Stellar’s recent success.

Satoshipay

It’s a micropayment network that aims to create monetization opportunities for artists and other content creators. It’s been around since 2014 when it was founded in Berlin, Germany and it’s found a way to get enough funding and to achieve a decent degree of success. The critical fact is that Satoshipay uses only the XLM token to process and settle payments.

On top of that, last month, on July 26th specifically, it announced it was getting ready to issue an IPO, so a lot of expectation is building up around both Satoshipay and Stellar Lumens.

Stronghold USD

This is a project by IBM to issue a cryptocurrency that will be backed up by actual dollars as well as Stellar’s network. This project has created a lot of hype because it intends to create a stable currency and because IBM, the tech giant that has been behind so many previous technological revolutions, is supporting it. Even before that IBM announced Stellar to be its blockchain of choice and it seems that every crypto project that could involve IBM will involve Stellar as well.

TransferTo

Only two years ago it was a startup. It’s a cross-border digital payment service which has built a vast global network (150 countries already) in a remarkably short amount of time. TransferTo has chosen Stellar as the network (and coin) to improve its international payments system. They aim to make it quicker, safer, cheaper. This partnership is probably one of Ripple’s nightmares.

Coinbase

This is one that must be taken a bit carefully. Coinbase is not listing Stellar, at least not yet. But it announced that it is studying the possibility of listing it in the future if they like it. Coinbase’s announcement was exceedingly careful and ambiguous but the fact that they announced they would consider XLM for listing before XRP aroused a lot of excitement among Stellar fans and it brought the price up right away.

Tempo

You can think about Tempo as the European Western Union. It’s a remittance service with a massive presence in Europe, Latin America and Africa. They have also chosen XLM to be the means to settle their international transactions.

This is probably the most significant news from all because unlike the other companies that have partnered up with Stellar (except IBM), Tempo is the one that indeed is an established giant within its business. There’s even been talk about Tempo issuing a debit card based on Stellar so that you can use your cryptocurrency to, say, buy groceries.

And all that happened in only two weeks. If Stellar (XLM) can keep up the lightning pace at which it is securing so many critical strategic partnerships, it won’t stay at sixth for too long. It could even become a player for crypto’s more prominent players, and it will keep having great performances in many more months to come.

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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 Maxpixel.net

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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