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BitOasis lists Stellar Lumens’ XLM with fiat (USD) pair

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Stellar

BitOasis is a cryptocurrency exchange specialized in the Middle East and some zones in North Africa. As of yesterday, the Stellar Lumens’ XLM digital asset is included to the company’s trading platform.

As soon as the press release was published, all BitOasis users will be able to buy and sell XLM with no trading fees at all, paired against the local fiat currency (the United Arab Emirates Dirham), but only if they live in Oman, Bahrain, Kuwait, Saudi Arabia, and the United Arab Emirates. What makes this move particular is, precisely, that pairing with the local currency instead of Bitcoin, which is the usual way to go in most crypto exchanges in the world.

It is an exchange that already offers a wide variety of digital assets such as Ethereum (ETH), Ethereum Classic (ETC), Ripple (XRP), Bitcoin (BTC),  Bitcoin Cash (BCH), ZCash (ZEC), Litecoin (LTC), and Monero (XMR). XLM is the newest family member.

The announcement came as the crypto market plummeted for the second time in less than a week, losing 25 billion until it settled at 152 billion. Every single coin went down and suffered from the bear’s hug as can be seen by a majority of double red numbers for every single one, except for Ripple that still traded in red but in single digits only.

Earlier this year Stellar Lumens was under the spotlight several times. Coinbase announced it for consideration in its platform. The project has secured several interesting strategic partnerships of which the most important is, undoubtedly, the one with IBM.

Stellar is now IBM’s only crypto partner, which means that all the projects that Big Blue wants to bring into the cryptosphere will work on Stellar’s blockchain. It will also use XLM as the native token. In the digital world, it rarely gets any bigger than this.

But despite a year full of good news for Stellar, the token has not been able to avoid taking a beating in the current market. This has nothing to do with flaws in the project, or in the coin, but rather with the fact that the market has been plummeting all year long, and every asset as felt the trend down in varying degrees.

As we write this article, SLM is at $0.2015; it’s not on the rise and trading in the red for more than a full day. Its market capitalization is at 3.86 billion, and the trade volume is of $119 million.

Don’t take its current price into account. Stellar is a blockchain project with good leadership, good technology, a clear purpose, and many relevant partners. Slowly, but surely it’s gaining adoption, and it’s challenging Ripple to become the crypto platform of choice for the traditional financial industry. And since IBM is already doing business in some way with 90% of the world’s banks, we should not underestimate the potential that XLM holds, whatever the current market trend may be.

Stellar’s logo is a rocket headed to the stars. If news like this keeps popping up in the cryptosphere regarding XLM, we don’t doubt at all it will eventually get there.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and 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 Pixabay.

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Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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3 Reasons Why Liquidity Dividends Protocol (LID) Will Be a Huge Winner

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Liquidity Dividends Protocol

Since 2017, cryptocurrency has experienced both the crazy highs and the crazy lows with fortunes being made and lost overnight.  That volatility is one of the main reasons why cryptocurrency has been relatively slow to gain mass adoption.  In addition to volatility, another concern for many is the lack of security and regulation in the market.  This can be seen through the countless exchange hacks and rug pulls that seem to occur on a weekly basis.  In order for cryptocurrency to move into the next stage of maturity and bring on mass adoption, investors and users will need to feel secure knowing that their funds are safe.  One promising organization that may have the perfect solution is Liquidity Dividends Protocol (LID).

What is Liquidity Dividends Protocol?

Liquidity Dividends Protocol is an up and coming organization that provides locked liquidity services to cryptocurrency projects that launch their offerings through ERC-20 tokens.  It lets non-custodial pre-sales lock liquidity of a token in a trustless manner through Uniswap.  This locking process will prevent every investor’s worst nightmare of seeing their hard-earned money disappear through “rug pull” scams that are designed to remove liquidity out of DeFi projects.

This year has seen an explosion of interest in Uniswap and DeFi projects.  Many investors have generated enormous returns on investments, but many have experienced the pain of being duped.  Below are three reasons why LID Protocol is poised to be a massive winner in…

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BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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