Connect with us

Blogs

A bunch of bulls pushing Stellar Lumens XLM forward

Published

on

Stellar XLM
READ LATER - DOWNLOAD THIS POST AS PDF

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.

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

Blogs

Understanding the Uses of Different Types Of Cryptocurrencies

Published

on

cryptocurrencies
READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

Continue Reading

Blogs

New DoJ Ruling May Cripple Gambling dApps

Published

on

gambling dApps
READ LATER - DOWNLOAD THIS POST AS PDF

A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

Continue Reading

Blogs

7 Steps to Recovery from a Crypto Trading Loss

Published

on

crypto trading loss
READ LATER - DOWNLOAD THIS POST AS PDF

Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

Continue Reading

Elite