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Stellar Lumens low trading volumes and how decentralization can improve XLM
Stellar Lumens is one of the most overlooked cryptocurrency projects even though the XLM boasts of a position among the top ten biggest cryptocurrencies in terms of market capitalization. In fact, if data from CoinMarketCap is anything to go by, XLM features a pretty low key trading volume, especially when compared to other big-time players of the industry like Ripple and Ethereum (both with trading volume in the hundreds of millions). Basically, in terms of trading volume, Stellar Lumens ranks at number 16 while being ranked number 8 in regards to the market cap. What does this say about the coin?
Well, most crypto enthusiasts believe that the reason behind the drastic difference and a considerably low trading volume of the coin is a result of low marketing of the coin. Granted, Stellar Lumens, unlike most cryptocurrency projects, has not been featured in the headlines quite as much. Given that current market trends are mostly speculative and that the news drives behavior among cryptocurrency traders and investors, it is no surprise that some people could think of marketing as a factor contributing to the low trading volume of XLM. But is this really it?
Stellar Developments
Recently, Stellar has been anything but reserved in terms of news and marketing. Even though not to the extent of most hyped up cryptocurrency projects, Stellar has had an active month with new developments set to unfold in the near future. Just last week, the Stellar Team announced the launch of the 7th annual Stellar Build Challenge (SBC) that has seen the Stellar community get excited about working in tandem with the Stellar team to produce advancements on the platform. So far submissions are ongoing with some developers promising to develop a boosted secure mobile wallet for stellar on the next challenge.
In addition, Stellar is partnering with LALA World to create a global payment ecosystem that will enable immigrants; students and any other unbaked individual across the globe send money to their loved ones at more affordable rates. LALA World is a B2B company set to transform millions of lives by 2020. The current agreement to work with Stellar Lumens will not only be one of the biggest partnerships for Stellar but also see the creation of a fully-fledged product by the 3rd quarter of the year. The new initiative will develop an XLM market that also enables microlending for small and medium enterprises.
Staying committed to decentralization
After it’s all said and done, Stellar seems to be one of the few projects committed to decentralization. Even though its trading volume is currently one of the lowest among the top coins in the market, the Stellar Team is poised on improving and developing the platform. Whether it’s through partnerships like the one with LALA World, or through community-driven initiatives like the SBC or even with Stellar’s commitment to innovate with the Stellar Decentralized Exchange, the XLM is here to stay. As long as the foundation continues to pursue development through decentralization and transformation of people’s lives, there is a good chance for a sudden spike in XLM.
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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.
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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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