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On the Path to Recovery: Stellar Lumens (XLM)

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Stellar Lumens
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The Cryptocurrency market is arguably one of the most volatile unpredictable trading markets in the world. The number of cryptocurrency tokens has exploded over the last 2 years, which in turn has expanded the total market value of the crypto-market beyond anybody’s expectations. However, there is still a high degree of speculation in this market, which is still comparatively in its fledgling stage. Many tokens have experienced manic highs followed by rapid falls in price over short periods of time. One such crypto project is Stellar Lumens, which had dropped considerably after experiencing an all-time high, but is slowly on the path to recovery as of late. At the time of writing (27/04/2018), Stellar is placed 7th in terms of market cap, which currently amounts to $7,655,606,791 USD, while Stellar tokens are priced at $0.412240 USD.

A Brief History of Stellar

Both Stellar tokens and the Stellar network are a product of the Stellar Development Foundation, led by famed eDonkey creator Jed McCaleb. It was originally introduced as an open-source protocol based on Ripple. However, the Stellar Foundation tweaked the existing protocol and added a new code-based consensus algorithm in November 2015. Since then, the Stellar network has experienced pronounced success in terms of partnerships, striking deals with industry powerhouses such as IBM and KlickEx.

The Stellar Network has had a bittersweet experience since it was launched, experiencing massive spikes, as well as manic drops. For instance, Stellar’s value decreased from a high of $0.003387 USD on August 05 2014, to $0.002760 on August 05 2015 and then to $0.001956 on August 05 2016. However, 2017 seemed to be the year when Stellar’s price started to recover, reaching a high of $0.26538 on August 05th 2017. In spite of experiencing short periods of price slumps, Stellar’s value has been mostly on the rise, with the recent events only bolstering its value further up.

Current Market Scenario:

As of 27/04/2018, Stellar has become one of the favorable assets exhibiting some degree of an hourly volatility. Stellar Tokens are also on the path to recovery, jumping from about $0.36 to $0.42. Much of Stellar’s recent success came as a result of an announcement regarding its association with the Mobile Coin ICO.  The Mobile Coin ICO raised $30 Million on the Stellar Network, and investors have noted the higher degree of security offered by the Stellar team.

This is however not the first time the Stellar network has been making news for an ICO. The KIN Foundation announced some time back, that it plans to migrate to the Stellar Network for improved scalability, which in turn positively affected its price.

Mobile Coin, which is already backed by some of the industry’s big players such as Binance, aims at providing users with a token that allows integration with mobile messaging platforms like Whatsapp. The positive market sentiment around the project is mainly around its potential to introduce cryptocurrencies to the general populous, enabling it to reach billions of users worldwide. The potential for large-scale adoption would, in turn, raise the Stellar network’s profile and as a result, add more value to the project.

The news of the success of Mobile Coin ICO would certainly push Stellar at the forefront of superior blockchain projects in the world, giving stiff competition to other similar projects on the blockchain. Additionally, the fact that Stellar is endorsed by IBM for low-cost cross-border transactions shows the reputation and credibility of the Stellar Network.

Final Thoughts

Among all the platform based blockchain projects, Stellar has to be the one with the most potential to be successful. There is no denying that the Stellar network provides faster transaction speeds as well as improved scalability compared to other platforms like Ethereum and Ripple. This latest piece of news is expected to impact Stellar’s value positively, with the tokens expected to be pumped for a short-term following the confirmation of the deal. Thus the future prospects of Stellar look very encouraging and well on the way to dislodge Ethereum and Ripple’s monopolistic positions. As more and more partnerships are completed, Stellar’s value will only increase and is expected to reclaim the 5th ranking in terms of market capitalization.

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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 NASA Goddard Space Flight Center via Flickr

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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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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