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Does Stellar (XLM) Show Signs of Rebound?

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Stellar (XLM)
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In the highly volatile world of cryptocurrency, the market has become unpredictable. If you are updated with the price movements, you might be aware that the last week has been catastrophic for most of the currencies. With the crypto market hauled into a massive depression, many well-performing currencies have received a huge blow. Stellar, which has been performing decently in the market, has witnessed a sudden decline a few days ago. Speaking of the price slump in the market, mention must be made of the critical events that defined the fate of the currencies. While there are many factors responsible for the downtrend, critical incidents, such as Warren Buffet ridiculing Bitcoin as “rat poison”, have directly influenced the investors’ trading decision. The most important factor, however, was the news of the investigation of the largest South Korean exchange, Upbit.

Although Stellar’s price has seen a drop in the past weeks, it cannot be placed among the worst-performing currencies this week. In fact, Stellar (XLM) has managed to calmly sail by. With the some of the popular currencies trading in the red, Stellar finds its place among the gainers.  In case you have missed out how Stellar outperformed the other currencies, here’s the gist of the story.

Stellar (XLM) and the Cryptomarket

Considering the recent market conditions, most of the cryptocurrencies that have been a victim of the slump will like to trade in the red this week. However, Stellar’s price reveals a different story. Not only does it show a positive momentum in the market but it also indicates signs of growth. As per the price records, the price of Stellar has moved up by 3.89% on May 12. Although this is a small increase when compared to its previous performance, this is quite big in terms of the present market conditions. With Bitcoin dropping by an alarming 7%, any small gain can be a boon to a currency.

Tracing the price movement of Stellar (XLM), Stellar topped the charts on April 29 while trading at $0.45. But the short bull run concluded with a steep decline, wherein the price of the coin dropped to $0.31 on May 11. As of now, the coin is back in the green. Stellar (XLM), which ranks 8 by market capitalization, is on its way to recovery.

Positive Developments on Stellar (XLM) Blockchain

Stellar’s impressive price movements over the past few days have attracted many investors to its platform. Discernibly, the currency has invigorated the investors’ interests in the currency due to a number of notable factors. Among the significant developments on the blockchain, Stellar’s listing on OKEx exchange can be seen as an influential factor for its recent surge. Just after Stellar’s listing on the Hong Kong-based OKEx exchange, around $1.4 million was exchanged between Stellar and other notable altcoins.

Another notable factor is Stellar’s partnership with the tech giant IBM to build a blockchain based project, which will allow investors to execute cross-border transfers with as many as 7 altcoins from the South Pacific.

At any rate, the most important influential factor for the buzz around Stellar is Kin’s (KIN) decision to fork from the XLM blockchain because of scalability related issues. One of the developers working on the blockchain, Gadi Srebnik said “the addition of Stellar as a second blockchain will allow us to operate the Kin Ecosystem on a faster, more efficient foundation, with low transaction fees…to achieve the speed and scalability that digital services in the ecosystem will require.”

Stellar’s (XLM) Price Witnesses Growth

As evident from Stellar’s last few days’ performances, the price has risen by 3.74% in the last 24 hours. The price spike can be understood in terms of the strong upside push in XLM/BTC ratio. When compared to most of the cryptocurrencies, the Stellar trading volume is much lower than the leading members. Nevertheless, Stellar’s trading volume of $49,958,300 is decent enough to keep the momentum going. Whether or not the coin will sustain its favorable performance is difficult to say, but going by its response to the market, it might hit $0.40 price level in the coming days. A little insight into Stellar’s trading specifications will reveal that its trading volume is primarily generated from South Korea’s exchanges. While Upbit is a renowned exchange for trading Stellar, Binance is also a great place for trading the currency, and both of the exchanges are responsible for Stellar’s growing trading volume.

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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 Briles Takes Pictures via Flickr

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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DEXes
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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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crypto billionaire
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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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TokenRoll
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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