Connect with us

Blogs

Stellar (XLM) Has Enormous Potential

Published

on

unifox-ad
XLM
READ LATER - DOWNLOAD THIS POST AS PDF

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.

Image courtesy of sea turtle via Flickr

Blogs

3 Things to Avoid if You Want Your ICO to Succeed

Published

on

ICO
READ LATER - DOWNLOAD THIS POST AS PDF

Initial Coin Offerings, or ICO, have become quite popular in 2017, which is something that also continued throughout 2018. In fact, there were hundreds, if not thousands of them so far. However, no matter how many of them were organized, most never managed to make it into the market and achieve their goals.

Analysts claim that there are a lot more failed ICOs than there are successful ones, which has caused a lot of people to simply give up on the idea. However, many are still curious to know what went wrong, and while failed ICOs can be studied for years without discovering absolutely every flaw, some of the bigger ones can be spotted right away.

This is why we will now list top three reasons why so many ICOs failed, and everyone who is thinking about launching one should pay close attention.

1. The lack of demand for the product

According to estimates, around 60% of ICOs often fail at the first stage simply for the lack of interest in what they offer. When someone comes up with an idea and launches an ICO in order to raise money, they are presuming that people will be interested in investing in this idea. In addition, prior to making an announcement that an ICO is coming, it is wise to ensure that the announcement will be heard in the first place.

Additionally, ICOs need to be approved by appropriate…

Continue Reading

Bitcoin

Reasons Behind The New Bitcoin Crash

Published

on

Bitcoin crash
READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrency investors and supporters experienced quite a shock last week with the latest Bitcoin crash. Almost every single one of top 100 cryptocurrencies trading in the red. Not only that, but most of them experienced massive losses, often larger than 12%, or even 15%.

The event was unexpected and all cryptos, with the exception of a handful of stablecoins, lost a large part of their value. However, as always, Bitcoin is the one receiving the most attention, especially since this is the first time that BTC has dropped below $6,000 in a long while. Right now, Bitcoin is still losing value, with its current price being at $5,503.11 per coin, and a drop of 12.76% in the last 24 hours.

After the initial shock, a lot of investors started wondering and researching the new crash. The main question still remains: Why did this happen?

While this is more than understandable, especially considering how much money, time, and patience people have invested in crypto, the reasons behind the new crash remain obscure to many. Because of that, we are now going to explain two events that are most likely to be causing this situation.

1. The selloff

This is believed to be the main reason for the new crash of Bitcoin. The selloff came as a consequence of the last year’s bull run, which has launched BTC and other coins to entirely new heights. Because of that, numerous…

Continue Reading

Altcoins

Here’s Why This Coin Still Has Wings (WINGS)

Published

on

WINGS
READ LATER - DOWNLOAD THIS POST AS PDF

WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.

Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.

What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.

The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…

Continue Reading

Elite