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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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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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