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Stellar (XLM) Has Enormous Potential

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This entire bearish week Stellar (XLM) has spiked people’s interest. It continues to show signs of reversal against its BTC pairing after suffering a 4-month long bearish trend.

Stellar (XLM) was one of the strongest altcoins ranked within top 10 at CoinMarketCap at the time when Bitcoin showed indications hitting above $7000. Other altcoins rose with the same audacity not just in terms of dollars but also in BTC prices. With the possibility of future ICOs choosing stellar, the community and most analysts believe that Stellar might soon overpower Ethereum. Read further to understand how Stellar is gaining big while outperforming other top 10 altcoins.

Stellar’s Current Standing:

One of the major gainers since the start of April has been Stellar which has shown a constant positive advance of nearly 10%. At the time of its peak (recorded on 4th April), each Stellar Lumen cost $0.23 and its total market capital rested at $4.33 Billion. Stellar is expected to show a bullish uptrend soon when bitcoin shows the green signal. With Stellar constantly in the news, there is the possibility of it being a bull leader in near future. Even at the time of writing, the price per token remains at $0.22.

Stellar Live on IBM Blockchain:

We’re all aware of the fact that IBM, one of the world’s major tech giants is eyeing blockchain technology. The company expects to accomplish great things by making use of their recent Blockchain Platform Strategy. IBM took the biggest step in the crypto world when they announced that Stellar Lumens are being used in a real-world environment for the company’s blockchain solutions. It took the cryptocurrency markets by surprise since this announcement that Stellar Lumens will be used as Bridge Asset on IBM blockchain, exceeded even the wildest guesses anyone could make.

Collaboration with Central Banks:

There’s a high possibility of central banks to test and then employ stellar for issuing fiat-supported cryptocurrencies. The head of blockchain solutions and director of digital currencies at IBM, Jesse Lund has quoted

‘’The most durable digital asset is one that is issued by central banks and represents fit currency in the world’’.

This implicates the biggest aspect of the IBM-Stellar partnership which aims to provide central banks with a cryptocurrency to work with. It’s still early to comment on the effect this announcement will have on investors worldwide. The most probable outcomes could be that Stellar becomes a default crypto for central banks since IBM already offers many of the technology-related services.

Stellar as ‘The Fintech Coin’:

Stellar’s asset Lumens (XLM) have been compared with Ripple for a long time now due to;

  1. Its large supply of stellar lumens
  2. Increasing growth from sub-penny prices
  3. Potential handling payments
  4. Tokenizing real-world assets:

Stellar also exhibits the potential to serve decentralized exchanges and banks. All of these prospects could transform Stellar into a blockchain based finance leader which is what Ripple has been aiming for. Sealing a deal with Central banks is quite a big deal because Central banks have the power to take decisions for the banks which operate under their jurisdictions. Therefore, a chain reaction is possible where more banks start adopting cryptocurrencies and blockchain technology in the same way.

Conclusion:

Stellar market shows signs of displacing its closest competitors such as EOS and Cardano at the slightest uptrend of BTC markets. Although it has laid flat for quite some time now while other coins have advanced and made a temporary recovery. As of now, the Stellar team is working hard on a global-scale acceptance by spreading its trade in Colombia, Chile, and Brazil. But it’s true that Stellar’s trading hasn’t shown much difference since January. It still needs a viable proof of use case by central banks.

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 and read our full disclaimer.

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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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