Stellar Lumens Lately
Stellar Lumens (XLM) have not been having a good time. Their coin went down until last week when it recovered as the Mobile currency used the Stellar Consensus to raise money; they got $30 million which brought attention and traffic in Stellar Lumen’s way.
Stellar’s recovery went all the way through last Friday, with their cryptocurrency on the lead. They even enjoyed gains. Their market value is now at $415.5 billion with a volume worth 27.4 billion.
Mobilecoin’s choice for quick transactions is Stellar Consensus. This coin allows for mobile payments to come together with messaging apps like WhatsApp and Signal. Mobilecoin is still a Canadian startup but enjoys the support of prominent players like Binance Labs. So, the initial ICO has done well, selling tokens through Ethereum.
The partnership between Stellar and Mobilecoin benefits the cryptocurrency a great deal, as shown by the way the pice has increased recently. Stellar will also benefit by being the coin that goes along with messaging apps. This will be a first outside China: an altcoin that works for money transfers in instant messaging apps.
According to Coinmarketcap, Stellar Lumens has been the best performer recently. It’s had a 16% increase in price, which is unparalleled by other coins right now. It went from $0.36 to $0.43 in a matter of days (10% growth in last 24 hours alone). Mobilecoin integration prompted this but experts expect even more. Here is why.
Reasons why Stellar Lumens will continue perming well
Stellar Lumens does not grow by earnings but by inflation. This means it makes the unavoidable laws of economics work in favor of users. The firm proclaimed that 100,000 new coins would be given out to coin users every week. That is distributed according to inflation rates and Lumen’s user members. No charges at all.
Then there’s usability. Stellars is about to join Lobster, and this means that users can get an account and become instantly able to trade Smartlands, KIN, Mobiu, and Terino at the touch of a smartphone’s click. It works on iOS and Android. It’s simple and easy to use. And, the e-wallet is safe because it allows for fingerprint and Pin verification.
Then, there’s the Repo’s coin airdrop, which has also made fans out of neutrals. Repo’s platform uses Lumen Consensus to get rid of the traditional ERC20 protocol. It solves non-payment issues, and the same technology solves the problem concerning securities by debtors.
Repo Coin airdrop in progress… (up to 200 REPO worth ~ $100! each person!)
1. Get some Lumens if none: https://t.co/fQus2JDbdr (fiat/BTC)
2. Put at least 3 XLM into own wallet if not yet (not at exchange!)
— Stellar Lumens (@StellarLumens) April 24, 2018
A user would need to own at least 3 XLM to qualify for an airdrop, but every user who does could get $100 worth of coins in their wallet. This attracts new users and investors.
Ripple vs. Stellar Lumens
Both Ripple and Stellar have been in the top 25 always. They hold great potential which is not surprising when you realize they were both created by Jed McCaleb. But each answer to different questions, which is why they compete with each other (for the market share, and not the services provided). They are both performing well, but it would pay off to understand how they came to life.
The point in Ripple was to create faster, cheaper international transactions among institutions. Stellar was built using Ripple as a foundation. Actually, the point in Stellar was to improve Ripple and fix the problems it had. It eventually became a cryptocurrency on its own.
But Ripple has become quite successful, and many institutions have adopted it to do payments and transfers using it. It’s slowly becoming the means for international money transfers. Stellar’s coin also allows for that, so it’s been undermining Ripple’s markets slowly.
Ripple remains a lot more popular as institutions all over the world adopt it for transactions, internal or international. But Stellar performs better, especially over the last week. And chances are it will do even better as Lobster wallet integration and the Repo airdrop becomes real.
Still, be alert. Ripple could make a bold move that changes everything.
Keep an eye on the market because Ripple could seriously challenge stellar Lumen’s superior performance. If you are looking to invest in either currency, do your proper research first.
For the latest cryptocurrency news, join our Telegram!
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 BagoGames via Flickr
TRON Partnership Involves Cloud Computing
It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.
— Justin Sun (@justinsuntron) October 12, 2018
Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.
Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.
However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.
Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?
Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.
It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.
The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.
China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.
Furthermore, the country has adopted several…
Ravencoin (RVN) Surges Following Binance Listing
While most cryptocurrencies today still remain unstable and at the edge of falling into the red, there are some coins that are doing significantly better. One such coin is Ravencoin (RVN), which has surged by over 26% in the last 24 hours.
Ravencoin came to be as a hard fork of Bitcoin and was inspired by a popular book series-turned-television programme, Game of Thrones. The coin’s developers decided to make Ravencoin an open-source project that provides users with the ability to declare assets on their platform. The platform itself is decentralized, transparent, and secure.
Just as Game of Thrones’ ravens are used for spreading the news and truth, Ravencoin hopes to become a carrier of truth regarding the ownership of assets on the blockchain.
Ravencoin’s main use case is for performing P2P transfers, while it prioritizes security, autonomy, user privacy, and control. Additionally, as a coin fighting for truth and transparency, it also stands against censorship.
Ravencoin got listed on Binance prior to MainNet launch
Following the last week’s announcement that Ravencoin is getting officially listed on Binance, the world’s largest cryptocurrency exchange ba trading volume, Ravencoin experienced a large price surge. At one point, the surge took the coin’s value up by over 31%. At the time of writing, however, the coin is still growing, with an increase of 26.15% in the last 24 hours.
Getting listed on Binance has brought Ravencoin to the top…
Tron (TRX) sees the biggest spike in daily transactions on its network, 600k
Nano Coin News Reports Unmatched Deposit Speed
TRON Partnership Involves Cloud Computing
Don't Miss2 weeks ago
Exclusive: Ripple (XRP) to be exhibited at SWIFT’s Sibos conference
Altcoins1 week ago
TRON TRX: A Perfect Way To Bring Games To Blockchain
Altcoins1 week ago
Electroneum (ETN) on the rise, can it make to highest market cap coins?
Altcoins2 weeks ago
Why is xRapid not bringing XRP price up?
Don't Miss1 week ago
Exclusive: Singapore to develop Ripple (XRP)-powered invoice trading platform
Altcoins2 weeks ago
You think Tron (TRX) looks good? It’s even better
Altcoins1 week ago
Moeda Loyalty Points (MDA) Up Over 300% This Week – But Why?
Altcoins4 days ago
Electroneum (ETN) investors can have a broad smile on their face