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Stellar Lumens Rally Towards the Beginning of Q2

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Stellar Lumens
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Anyone who has been keeping up with the hourly trends of bitcoin and altcoins must be aware that a faint bearish market sentiment is spreading all over. Stellar Lumens is one of the altcoins that’s welcoming a better run since Tuesday and is still at it. Contrary to other crypto markets which are now trading under the red zone, Stellar has managed to reach it’s April month’s highest price point ($0.46 USD). During past 24 hours, Stellar has gained investor’s and trader’s faith. Undoubtedly, Stellar is having a great run at the moment. The negative pressure building around the crypto markets led traders to prepare for significant losses in the next 24 hours but surprisingly, Stellar and verge prices remained in the green which indicates that there’s still hope. In this article, we shall find out how Stellar (XLM) managed to reach its monthly peak under such conditions.

What is Stellar Network?

The stellar network is known to make multi-currency payments possible and is favored by hundreds of thousands of traders, investors and crypto enthusiasts. the project started back in 2014 as a branch of Ripple because the co-founder, Jeb McCaleb had philosophical differences with the remaining members of the board of Ripple. A major difference between the two blockchain projects is that Ripple is focussed on providing solutions to banking systems but Stellar aims to ease payments between people. The Stellar development foundation is a non-profit registered incorporated in Delaware. Its funded by the initial creation of lumens. Stellar is not another ‘fast cryptocurrency’ due to the partner organizations who act as ‘anchors’ for the Stellar network. These anchors have also made Stellar trending across the border for its hassle-free payment features.

All About Stellar Lumens (XLM)

The currency used in the Stellar network is known as ‘Stellar lumens’ (XLM). When Stellar was started the total number of lumens created was approximately 100 billion. The transaction speed across the Stellar network is impressive since it takes only less than 6 seconds in addition to that the transaction fee is also low (approximately 0.0001 XLM). The annual supply of Stellar lumens increases by 1%. Although, lumens aren’t easy to buy. One cannot buy lumens using their credit card. The only way to buy lumens is from a reliable cryptocurrency exchange such as Binance, Coinbase, HitBTC and many more.

Key Aspects of Stellar Project

The stellar project was created to be used by common people and in order to achieve mass adoption it was equipped with features such as

Fast and Low-Cost Transaction

This feature has aided Stellar to reach its current rank among top 10 crypto giants of the world. With additional help from its anchor partners such as IBM which has announced its intention to use the Stellar network to move money across the border, the project is to rise even more when the details are clarified and finalized.

Powerful Decentralised Exchange

The stellar network acts as a decentralized distributed exchange and supports any type of asset added by the people using it. the ledger stores balance held by the user’s account and offer the user to buy or sell assets. There are many additional features of Stellar DEX such as ‘offers’, order book, passive offers, cross-asset payments and preferred currency.

  • Ability to Issue Tokens and Host ICO

The stellar network provides the feature of creating tokens with numerous advantages such as, whenever a token is created using the Stellar network, it is readily added to Stellar DEX. Some time ago all ICOs preferred Ethereum network but now the paradigm has shifted and there are successful ICOs being held on the Stellar network. one such an exemplary ICO is Mobius which is aimed to become the ‘Stripe’ for blockchain so that people can apply digital currencies for real-world payments.

  • Stellar Network Easy Integration

The Stellar website is the source of knowledge because it displays a comprehensive number of documents, guides for developers who wish to integrate with the Stellar network. they also provide a RESTful API and software development kits which support many different languages.

  • MobileCoin Partnership with Stellar

Stellar has been under the green since the news of MobileCoin ICO emerged. The ICO which has raised $30 million USD not long ago was built on the Stellar network. the project seems to be focussed chiefly on privacy and has completed a successful ICO and has acted as a catalyst for lumens performance. MobileCoin is going to be a privacy-based token which is based on Stellar consensus protocol to reorganize mobile payments faster.

  • Bitfinex Launches Stellar Trading

Yesterday, one of the largest cryptocurrency exchange Bitfinex declared the launch of Stellar trading on its platform. As a result, lumens experienced a rally which continues till the time of writing. The trading platform is introducing verge trading as well, in order to expand its offerings to customers. This addition holds great significance to the Bitfinex platform. The CEO has commented that Bitfinex is committed to extending the reach of its traders. Adding Stellar and verge is a result of that commitment. After the announcement, Bitfinex has seen a trading volume of $1.1 billion USD according to CoinMarketCap data.

Final Thoughts

The present individual price for Stellar lumen is close to $0.44 USD with an uptrend of 1.49%. Almost $77 million USD worth lumens have been exchanged within past 24 hours. The total circulating supply of Stellar lumens rests at 18.57 billion XLM.

It’s evident that Stellar is getting lot more interest than its other adversaries but it is still unknown how long will this rally continue. All we can ascertain about Stellar is that it’s a worthy investment and is bound to favor long-term investors.

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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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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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Altcoins

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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