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Coinbase and Tempo Money fuel Stellar Lumens’ XLM price spike

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Stellar XLM
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Tempo Money Transfer is a very well established international remittances company that is launching a new service consisting of crypto-to-fiat operations. It would allow for people to walk into one of their desks and buy a crypto of their choice paying cash. They recently announced that they will adopt Stellar Lumens’ XLM crypto coin as the mediating currency for all its global transfers.

Then, a few days ago the influential Coinbase exchange announced it’s doing the due diligence needed to decide if they will list XLM in their site.

Both announcements made XLM’s price surge at a time in which the coin has been going down for months. Analysts are talking about gains that are in the two digits.

XLM’s price behavior

Yesterday Stellar (XLM) went up by more than a tenth, reaching $0.206. And from yesterday to today it went up to $0.30583 which is an increase of almost another 8%. That’s around 21% in only two days.

The increase in trading volume has been even more impressive, rising by a spectacular 74% from last Friday to Saturday. Binance is the central player as something like 40% of all that trade happens in that exchange.

At current values, Stellar’s capitalization is at almost six billion dollars (5.7 to be specific), which makes it the seventh largest cryptocurrency in the world.

Will Coinbase list it?

It was reported a couple of days ago that Coinbase is considering to include five new cryptocurrencies for trade. XLM is one of the assets under consideration along with Cardano’s ADA, Zcash, Basic Attention Token, and 0x. But after the Bitcoin Cash incredible fiasco, it seems Coinbase is learning to play it safe as they accompanied that announcement with a clarification.

The coins are for consideration but there is no decision yet, and there are no guarantees that they will be included. On top of that, if they are listed, they could be available only for a few geographic zones, at least at the beginning.

Coinbase is a US-based virtual currency exchange with emphasis on usability. As such it only carries a handful of crypto-coins (Ethereum, Bitcoin, Litecoin, Ethereum Classic, and bitcoin cash) but it’s the US’ largest with a user base of more than thirteen million users. This vast number of clients makes it one of the world’s most influential, and the reluctance they’ve shown to offer a broader coin spectrum to their clients make it one of the most desired exchanges for cryptocurrencies.

The Tempo goes for Stellar

Tempo is already global. A lot of its business is in money remittances from Western Europe to South America, but they are basically everywhere. You can think of them as the European Western Union.

Some time ago they announced their intention to incorporate digital assets into their services and yesterday they let the world know that all their crypto-fiat business will use Stellar’s XLM as the primary currency to mediate transactions. Since Tempo can transact on the Stellar (XLM) network more than half a million times for the cost of a single US cent, this will lower transfer fees for end users in a spectacular way.

Stellar called this partnership “largest payment network of any crypto exchange globally…

Because of the strong position Tempo holds in Europe, this partnership could turn Stellar into the primary tool for Euro-USD transfers. This is no mean feat, and it could prove to be Ripple’s worst nightmare.

“The existing Tempo remittance network allows Tempo to offer a quick cash-out process in multiple countries” explained Tempo’s president, Mr. Jeff Phaneuf “We are now expanding to offer the easiest, fastest and most secure bridge between cash and crypto.”

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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

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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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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