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Stellar (XLM) Supporters Expecting a 350% Increase

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XLM

Stellar (XLM) is one of the cryptocurrencies with a lot of potential, despite the low price. A lot of high-ranking cryptos lost much of their value, along with their ranks, when the prices dropped back in January. Stellar has, of course, suffered a large drop as well. However, not as large as so many others, and it still manages to stay among the top 10 cryptocurrencies, currently being ranked as 8th as per CoinMarketCap.

The coin’s supporters and crypto enthusiasts, in general, have had high hopes for this coin when the bearish market first kicked in. Despite the fact that it has been half a year since the crypto market turned bearish, those hopes still remain strong.

Ripple and Stellar

Stellar (XLM) is a crypto for which many have had high hopes. In fact, many still do, and one of the things that people wish to see is that XLM and XRP (Ripple) find a way to co-exist. Since Ripple is more bank-oriented, there were suggestions that it stays that way, and enter as many cross-border payment-sending deals with financial institutions as it desires. However, the same suggestions ask for Stellar to be used as a coin that individuals would be sending to each other as part of smaller transactions.

This would allow XLM to truly become what cryptos were meant to be all along.

Stellar is often compared to Ripple, and the two coins have some pretty strong links between them. After all, XLM was initially created by Jed McCaleb, a Ripple developer. It also uses some of the more sophisticated and more complicated languages for its blockchain, like Java, C++, and Python. The combination of these languages allows Stellar to work without any major issues, and many see its potential to recover from the price drops once more.

Does Ripple have an influence on Stellar?

Of course, when it comes to statistics, Stellar and Ripple simply cannot be compared in a traditional way. However, many have found that the price changes affecting Ripple are often indicating what will soon happen to Stellar.

Stellar’s total supply exceeds 104 billion, but only 17% of that amount is currently in circulation. Ripple, on the other hand, has a total supply of nearly 100 billion, and 40 billion in circulation, which means that around 39% of the total supply is around, waiting to be used.

With that in mind, when we take a look at their current prices, everything seems to indicate that the price changes are happening equally for the two coins. Ripple has twice as many coins in circulation, and its price should be twice as high, and in pretty much is. Of course, this is all correct assuming that Stellar’s market potential is similar to that of Ripple.

What does this mean for Stellar?

So, where does all of this lead us? Well, if Ripple were to return to its record price of $3.50, it is expected that Stellar would follow accordingly. That would increase the coin’s value to 350%, which is exactly what the investors are hoping it would happen for some time now. That would bring XLM’s price to around $1.70

Another speculation includes an additional volume that might come from a wider market, which would mean that XLM actually has the potential to go even beyond that, and possibly reach $2 without a lot of issues. Of course, all of this can only happen if the market actually turns bullish for long enough for cryptos to once again find a foothold.

According to some, there have recently been signs that this is just what is in store for the crypto world in a near future. If the signs are legitimate, then cryptos might reach, or even exceed their late December / early January prices. For now, all that anyone can do is wait and see what will happen, but the prices of many coins have, in fact, went up significantly in the last couple of days, which might mean that there is some truth to these predictions.

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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.

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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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