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

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Stellar

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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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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 been…

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