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.
We are very pleased to announce that Stellar (XLM) is now available on our digital asset trading exchange platform with 0% trading fees until November 27th, 2018.https://t.co/6p2kl5xSmN pic.twitter.com/x9RxNaehFt
— BitOasis (@bitoasis) November 20, 2018
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.
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
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Can Libra help the crypto industry to reach new heights?
The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.
From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.
What is Libra?
Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.
Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.
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