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.
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.
📢 SatoshiPay getting ready for IPO in London 📈 https://t.co/p2hjgY8o2B
— SatoshiPay (@SatoshiPay) July 26, 2018
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.
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.
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.
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.
For the latest cryptocurrency news, join our Telegram!
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
How Can Foreigners Get Loans in Singapore
Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.
At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary.
What defines a foreigner in Singapore?
A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also…
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.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…