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Stellar (XLM) on the Wrongside of the Crypto-Slump

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The recent price movements experienced in the Cryptocurrency market in the past few months have left investors baffled, as volatility seems to increase with each passing moment. Such is the position of Stellar (XLM), currently ranked Seventh in the world according to Coinmarketcap. Despite the news, events surrounding Stellar Lumens that can have a positive impact on investor sentiment, the value of the Cryptocurrency has gone downhill in the last few days, currently recovering from a massive slump experienced on March 18th.  This comes at a time when Stellar announced Irene Energy’s shift from the Ethereum network to Stellar’s own network. Stellar’s XLM tokens also got listed on the Koinex Exchange and the Stellar team managed to confirm a partnership with Bluepan Net.

However, all of the above positive news does not seem to have an effect on the stellar current price decline.  On March 17th, Stellar reached its lowest point in recent times, dropping to a shocking 0.159964 USD in value and a market cap of 2,959,123,604 USD. The situation has somewhat improved, with Stellar’s market cap reaching $4,686,497,327 USD on March 20th.

Impending Events Involving Stellar Lumens

Despite the announcements of three important events in the Stellar network, the price of XLM tokens is not recovering to a great extent. The events are discussed in brief below.

  1. The Partnership: More than a week ago, Stellar Lumens announced a partnership With BluepanNet, which is a huge success for any Cryptocurrency. BluepanNet represents one of the biggest remittance institutions in the world, which uses the famed blockchain technology. Launched in 2015, BluepanNet originally worked with Bitcoin, before shifting to other alternatives for cross-border payments, like Stellar Lumens. Bluepan recently completed a successful test run of the Stellar integration feature and hopes to lower transaction fees by a significant margin all across Asia.
  2. Irene energy Announcement: Irene Energy, another Cryptocurrency announced a platform migration from the Ethereum network to the Stellar Lumens platform. Since the Ethereum network can be considered as the biggest platforms in the world, a coin transferring to this platform is a positive sign for Stellar Lumens.
  3. Koinex Listing: The Koinex exchange announced the listing of XLM tokens on their platform, available for live trading from 10th This bit of positive news was supposed to positively impact XLM’s price, but instead the XLM price nose-dived.

Current Market Scenario for Stellar lumens

Crypto analysts and industry experts seem to be pessimistic about Stellar’s future price, with some advising others to move away. Karla Mckan, a crypto-market specialist remarked,  “It seems like the whole XLM fam is dead. Nothing seems to excite them at all. Looks like it’s the end of Stellar for me.”

Another blockchain enthusiast, Aman Chawla, also had a negative view about the current market position of Stellar, commenting, “Stellar is nothing but all mouth and no trousers. It’s ridiculous that people are even interested in this shitcoin.”

Final Thoughts

It is indeed true that Stellar was experiencing frightening dips over the last few weeks, being featured in “crypto’s biggest losers” lists more than twice. However, the price seems to be recovering from the horrific lows experienced on March 17th, with investors hoping that the price would rise considerably in the days to come. As it stands, Stellar Lumens has recovered remarkably well, Reaching 0.252381 USD at the time of writing from 0.159964 USD on March 17th. Although current market sentiments appear bearish, many investors feel that Stellar has hit rock bottom, and the price could only increase from this point. XLM tokens are expected to be the leader in the bull run once the market recovers. It is worth noting that Stellar Lumens, is an already established cryptocurrency, with over 40 different partnerships completed throughout 2017. Hence, Stellar Lumens remains a strong Cryptocurrency and a superior investment, compared to its peers in the market.

We will be updating our subscribers as soon as we know more. For the latest on XLM, sign up below!

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 Gloria Williams via Flickr

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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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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