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Coinbase and Tempo Money fuel Stellar Lumens’ XLM price spike

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Stellar XLM

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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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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 been…

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