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Stellar Lumen’s XLM cryptocurrency is doing great lately, here’s why
Stellar Lumen’s XLM has been enjoying great success lately. XLM’s blockchain makes money transfers efficient, quick, safe and reliable, so banks and financial institutions are jumping on the wagon, and creating demand and enthusiasts, investors, and traders are following suit. Currently valued at $0.443952, this coin has held a steady value throughout the recent altcoin crash, which means it’s just doing great. Here’s why.
Great performance means great rewards
XLM’s value has increased by double digits ever since the current year begun. This alone puts it in a different league than most other cryptocurrencies (most of them have gone a bit back this year), and makes a good investment option. XLM is showing the world how the Blockchain can transfer value quickly and cheaply for everybody.
Because it admits multi-currency transfers, this altcoin is famous internationally, and traders, speculators, and financial institutions look at it favorably. This reach and versatility make it likely for it to grow in value this year. But that’s not the only reason; there are several others, lucrative listing being the main one right now.
Hong Kong’s OKEx exchange recently listed this coin, and this is a big player. It is the world’s fifth largest as far as trading volume is concerned. They started last December 28th, and that made traders and investors pay attention. This helped raise the coin’s value as we can notice today.
After being listed by OKEx, more 1.4 million USD were traded using Stellar’s XLM just during the first day. Then the holiday season kicked in, but when business was back on track, mainstream business and financial firms were keen to join in the Stellar phenomenon.
Partnership with Pundi X
Pundi X is a POS (Point-of-sale) solution for the cryptocurrencies, headed in Jakarta, Indonesia. It makes it easier for users and retailers to use altcoins for retail transactions. Late last year, Pundi X announced a strategic deal with Stellar.
This deal will allow Pundi X to use Lumen‘s Blockchain to make payments in Indonesian Rupiah faster and safer between parties. The funds will go through borders cheaply and safely and, besides, that, the Stellar Lumens XLM token will be included in the POS system, it will be available for all users.
In this way, Pundi X is becoming a credit arbiter for transactions that involve XLM and the Indonesian Rupiah or vice versa. The deal gained was a hit for XLM, so it’s been getting a lot of attention from the Asian markets, which has helped prop up its price to the current levels. Then IBM started to show some interest too which also helped things a great deal.
The IBM bless-bomb
IBM’s attention has never hurt anybody. They chose to partner with Stellar to create a payment system tailored for South Pacific countries. This system works mainly in British Pounds and Fijian Dollars for now.
While the platform is still in diapers, it’s planned to grow to include seven different fiat currencies including New Zealand Dollar, Australian Dollar, and Tonga Pa’anga. Lumen’s coin will enable IBM to bring all these currencies together, reduce costs, and make exchanges among them incredibly fast. It will be intuitive and beneficial for every user alongside the companies who join it.
The news brought the coin’s value further up, and since IBM is in it for the long run, long-term edges can be expected from this partnership. If your e-Wallet includes XLM, needless to say, this is incredible news for you.
Wisdom is the point
It’s become clear to everybody watching the cryptocurrency market that Stellar is performing way above average. It’s been holding and increasing its value. It’s also been choosing the right strategic partnerships to keep ahead from everybody else’s game. And there’s every reason to expect there’s more to come. Did you get some Stellar Lumens already? Don’t sell just yet. Don’t have any? Get some!
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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 Carl Woo via Flickr
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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