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Here’s Why You’d Be Foolish To Ignore Stellar (XLM)
Stellar (XLM) is trading at less than $0.33 a piece. At the start of January, the same coin went for more than $0.85. That’s a collapse of 61% in around four weeks. This is far from XLM-specific, of course – the wider crypto markets have taken a similar (and, in many cases, a more pronounced) hit.
Of those coins that have corrected, however, a handful are set to take off once the market turns around.
And for us, Stellar’s Lumen is one of this bunch of winners.
When it comes to valuing a cryptocurrency, markets are pretty heavily divided. The aggregation sites normally list by market cap but we all know that this is pretty useless since all a coin has to do to increase its market cap is to increase supply. We’re not trading equities here, where a market will revalue to accommodate a fresh injection of shares, we’re talking crypto.
What we like to base our valuation on is a combination of three inputs.
The first, the team behind the coin. The second, the real world use cases of the coin and/or the technology with which it’s associated. The third, the community.
So, against these metrics, how does Lumen perform?
Well, we wouldn’t be discussing it here if it didn’t score highly on each point, but let’s get a little more specific.
First, the team.
The guy to focus on here is Jed McCaleb, who is listed as a ‘Stellar Developer’ on the company’s about section of its website. He’s much more than that, however. He founded the Stellar Development Foundation having left Ripple (XLM), which he also founded and (and this is something many people don’t know) he also founded Mt. Gox. Sure, Mt. Gox is now something of a black spot on crypto history, but at its peak, it was the number one entity in the space and McCaleb was no longer involved at the point when things started to go bad.
In other words, he’s been involved in two of the biggest projects in crypto before he created his third, Stellar.
The advisory board is just as strong. Patrick Collison CEO of Stripe; Matt Mullenweg, Founder of WordPress.com; Sam Altman, President of Y Combinator; and Naval Ravikant, Founder of AngelList all feature in advisory roles.
That’s the board, what about the real world use cases?
Well, this is where Stellar is leagues ahead of some of its peers. It’s essentially doing what bitcoin set out to do – bring a decentralized payment network into the mainstream that connects people to low-cost financial services. It’s crypto for the unbanked but also crypto for the banked that don’t want banks. An everyman’s crypto.
Finally, the community.
You’ve only got to take a look at the primary social channels to get a feel for the incredible community that’s behind this one. Close to 70,000 users follow the company’s SubReddit. The company has 200,000 followers on Twitter. And these guys and girls are very active in the community’s they represent.
To bring all this together, in XLM you’ve got a coin that fuels a technology that has the potential to finally bring to the table what bitcoin and others have tried (and so far failed) to, led by a team of industry leaders and incumbents, all of which is supported by hundreds of thousand strong community of enthusiasts – many of which hold XLM as representative of their support.
When this market turns, and it will, the coins that check each of these boxes are going to be not just the short-term winners but the long-term growth coins of the sector.
Don’t ignore XLM right now.
We will be updating our subscribers as soon as we know more. For the latest on XLM, sign up below!
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.
Image courtesy of Stellar
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. One of the ways to have a successful…
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…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
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…
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