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Stellar Lumens (XLM) Continues Rising Against Both BTC and USD

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Despite its recent losses, Stellar (XLM) continues on its way back up and is managing to hold its own against both Bitcoin (BTC) and the USD. In fact, the charts regarding its relationship with both currencies are surprisingly similar.

About Stellar Lumens (XLM)

Stellar is one of the altcoins that is under the top 10 in the current list of cryptocurrencies. So far, it managed to get listed in more than 10 crypto exchanges around the world, and its biggest success is with Binance, where it holds the biggest volume of coins that were exchanged for BTC. Its current market cap is at around $5.13 billion, which is what has secured this crypto the rank of 8. This may not seem like a big deal at first until we remember that there are around 1800 active cryptos out there right now.

Stellar’s average trading volume on the daily basis is at around $30 million, and it is defined as a mid-cap coin. Its token’s value is at $0.2872 when compared to the US dollar, and it is worth 0.00003746 in Bitcoin (BTC). It has a liquidity ratio of 0.83%, and a supply of 18 billion tokens. However, even this is quite a small number when compared with its max amount, which is 103 billion individual tokens.

Obviously, Stellar is doing well against BTC, with its price going up for about 4%. This is pretty much the highest amount of all 20 top coins, which is something to be proud of. Its growth might also be used as an indication that other cryptocurrencies might follow this pattern too, soon enough.

Earlier this year, in January, before the market value of all cryptos dropped significantly, XLM was worth $1. Soon after that, it went down to $0.2, which is pretty much where it stayed, with slight oscillations. However, the oscillations have been growing smaller and smaller over time, which at the very list indicates some stability. However, it also has a potential to climb back up, and many are expecting it to do so anytime soon.

Recently, however, it has been bearish, just like all the other currencies, and it lost around 29% in the previous month. Still, its volatility has been at around 33% during that same month, and its cumulative return is at more than 9000%. Because of this, experts believe that this crypto might get its value back to $1 as soon as the market allows it.

Stellar vs Ripple

Its biggest competitor right now seems to be Ripple (XRP), which is an achievement in itself, since Ripple has a lot more influence than XLM. Still, they do not exactly occupy the same space. Ripple’s main focus has been on enabling better ways of sending payments across the border. It is working on achieving this by empowering various financial institutions and major banks.

Stellar, on the other hand, has been working on P2P funds transferring issue. Basically, this crypto is trying to provide its users with the ability to send payments to each other directly, without the need for the middleman. This is yet another reason why this crypto’s future is ensured since this is one of the things that people desperately want. The project’s potential has grown even more after the partnership with IBM has been announced.

Another part of Stellar’s efforts is going towards getting central banks to accept the blockchain technology, and use it in order to issue their own coins. With IBM’s support, this might become a reality, since IBM is already one of the main suppliers to various central banks. Situations like these, as well as Stellar’s goals, are what makes people really support it. Not only that, but they seem to be ready to even choose XLM over BTC. Not yet, since the market is still not quite there right now, but soon enough.

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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.

Image courtesy of European Southern Observatory via Flickr

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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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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