Connect with us

Bitcoin

Here Are Two Reasons To Buy Stellar (XLM) Right Now

Published

on

Stellar (XLM) is a coin that’s been on our watch list for some time now and it’s one that we’ve covered on a number of occasions over the last few months. Back at the start of December (December 6, to be specific), we published this piece. In the piece, we argued that there was plenty more run room for XLM heading into the end of 2017 and during early 2018 and that our bias on the coin was strongly bullish.

At that time, XLM went for $0.13 a piece and a market capitalization of $2.35 billion.

By January 4, the coin had risen to $0.85 and a market capitalization of $15.22 billion. That’s a more than 550% increase over a circa four-week period and one that validated out near-term expectations.

XLM Daily Chart

XLM Daily Chart

Right now, however, the coin goes for $0.55. The wider market has corrected somewhat over the last couple of weeks and this correction is likely largely responsible for the dip we’ve seen in XLM.

As such, as the wider market turns around (and we fully expect that it will), there looks to be plenty of potential for a near-term upside recovery towards and perhaps a little beyond the above-mentioned highs.

There’s a fundamental factor in play here, however, and it’s one that could shift this coin into a higher gear and – in doing so – leave the $0.85 highs in the rearview mirror.

Here’s what we are looking at.

As many reading might already be aware, bitcoin has just been dropped by Stripe as a payment method on its payments processing service. This isn’t too much of a surprise given the current state of the network and, while the issues may well be resolved very near term, at which point Stripe will almost certainly pick back up on bitcoin as a payment method, it’s just not viable in its current condition.

What many didn’t notice, however, was a note on the announcement detailing the dropping of bitcoin that outlined Stripe’s plans to potentially integrate Stellar into its offering, in place of bitcoin.

Right now, Stellar transactions settle in a matter of seconds (the company states that it’s somewhere between two and five seconds as things stand), making it an ideal cryptocurrency settlement asset for Stripe’s customers.

The announcement came as part of this blog post, in which the company outlined that it’s not just dropping bitcoin – the process is likely to take up to three months and will involve a gradual winding down of its use – but this paves the way for Stripe to integrate Stellar and provide it as an alternative offering to its clients in place of the bitcoin integration they currently use as a selling point for their service.

As this story matures, then, it could really start driving speculative attention towards Stellar and its XLM representative currency.

What all this means is that not only have we got a currency that’s undervalued as compares to its value this time just a couple of weeks ago (assuming that the dip in valuation is rooted in the wider cryptocurrency market correction) but we’ve also got a coin that is making fundamental and operational strides towards commercial integration.

Technical analysis is one thing as it drives short-term speculative volume but enterprise integration is what these companies are really looking for and Stellar is offering investors just that.

When you combine both of these factors, it highlights the incredible near and long-term opportunity in an exposure picked up at current prices.

One to watch.

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.


Image courtesy of Stellar

Bitcoin

Blockchain technology outshines Bitcoin and Gold during global pandemic

Published

on

As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

Continue Reading

Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

Published

on

Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

Continue Reading

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

on

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…

Continue Reading

Press Release