After the crypto-coin market plunged recently it was expected to bounce back, but this market rally has not become a reality yet, and Ethereum remains under $700 while Bitcoin is under $10k. That’s been below expectations even if many other cryptocurrencies have been going consistently up.
Among this chaos, there have been two cryptocurrencies that have been showing a lot of promise, especially after April 17th: Verge (XVG) and Stellar Lumen’s XLM (XLM). It was on that day when XLM began to rise in value slowly but steadily, and it’s now among the top ten coins (it’s bigger than Litecoin now, which is no small feat.)
XVG’s fortunes have not been as good, as it seems to be declining. It dropped forty percent in value in just two days while most other altcoins were growing.
Stellar (XLM) vs. Verge (XVG): It will be all about partnerships
Global adoption is the name of the game for all cryptocurrencies and both Verge and Stellar are among the ones that have recently taken steps to achieve that goal.
XVG’s features are spectacular. It guarantees privacy in a way that mainstream users can take advantage of it but also users who just want to remain private. Their primary partner so far is Mindgeek, the company who owns Pornhub and Brazzers. This association with the world of adult entertainment has caused the partnership to be misunderstood. But that deal means access to 100 million potential users (that those sites have), which means XVG can only grow.
Then there’s their deal with Token Pay, which could put XVG over the top ten. While the official announcement is at least a week away, this would put XVG within reach of any debit card user. If it actually works out that way your local bank could soon be offering XVG to you.
Stellar has scored some interesting deals as well. You could argue that Stellar’s are actually strategically better choices that will give them a bigger market very quickly. A deal with MobileCoin recently boosted Stellar’s value, and then with another one with Pundi X, which would give them unprecedented access for a cryptocurrency to many markets in Asia and Oceania.
But those two deals, impressive as they are, pale in comparison with IBM. The technology giant has been a global player for decades already. For them to adopt Stellar’s coin could be enough to take the currency to the world’s top three. And Stellar’s platform has already shown it is beneficial for international financial transactions.
If IBM does its part in the South Pacific regions as it’s done elsewhere, then you will see XLM surge as its demand grows dramatically. It could even overtake Ripple as the cryptocurrency of choice for international transactions.
Verge vs. Stellar current value
Coinmarketcap.com currently ranks Verge’s XVG in 23rd place with a 1.23 billion capitalization. Its price recently dropped dramatically, but it’s recovering. As of May 1st, it was trading at USD 0.082 with a $367 million in volume.
As I write this, it’s increased by 26% (in last seven days), and it’s going back to the top 20. Because of recent good news, this altcoin is expected to keep going up steadily over the short-term. Long-term, it will depend on how partnerships work.
Stellar’s XLM has been performing well recently as well. It’s worth $8.2 billion right now, which means it’s almost a billion dollars ahead of Litecoin. Valued at $0.44, it still has some way to go before it reaches the $1 target they have for the current quarter. The trade volume is much smaller than XVG’s ($125 million), but its value increased over the last week has been in the double digits (14.15%).
Both coins are doing well, but their long-term performance will depend on the job their partners do to make each coin become a global standard. That will also determine which one reaches the $1 price mark first.
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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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Why Blockchain Projects Keep Failing
If you’ve been keeping up with news coming out of the blockchain community over the past year, you’ve probably heard countless projects hyped as the next best thing—only for them to fall off completely off the map a few months later. While some of these projects offered no practical solutions and seemed destined to fail, others creatively used blockchain technology to enhance the way we perform day-to-day tasks.
So, What’s the Problem?
For starters, many of these founders have no real experience running a business or managing finances. Instead, teams are usually comprised of programmers and tech geeks with the ability to develop blockchain-driven apps, but have no clue about project management, allocating resources, effective team building or marketing.
What’s more, when you look at the average blockchain start-up’s website, you’ll probably find a list of team members with accolades a mile long. And many of these “achievements” are in similar blockchain projects that have yet to take off. This makes it hard to distinguish between what is hype and what is credible information, which scares off all but the high-risk investor.
Project Success Starts at the Team Level
The sudden interest in cryptocurrency and blockchain technology can be compared to the California Gold Rush. Everyone wants to get in on the ground floor so that they can make as much money as possible.
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STEEMIT Running Out Of STEAM?
Has Steemit seen its glory days run dry? There have been many rumors that the CEO Ned Scott has pushed the company to the blockchain focus that he forgot about Steem being a social media platform. Now, these are just things some of the former employees have been heard saying, but it is a rather interesting take as to what is going on. Give the following video a watch where I break down what is happening with Steem. I also give my thoughts on what may happen to other large ICOs and how we may see this trend continue as we have seen with ConsenSys laying off 10% of their workforce.
If the big name projects are starting to do this will it also have a trickle-down effect on other ICO’s which have no products and are running out of cash? I definitely think so, and I also see this negatively affecting Ethereum for the mid-term. The question many have been asking is just how long can the bottom 1800 projects last with the current market conditions? How many ICOs did not liquidate their Ethereum and now are stuck with 1/10th the cash flow or more in some cases, how will they pay to continue operations? What about the growing number of projects laying off employees like…
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In this bear market, everybody’s asking the same questions. Why is Bitcoin falling? When will the market turn around? Is this the end of the crypto boom?
However, before we can answer questions like these, we need to step back and do an honest appraisal of where our industry stands and what is really holding it back. Despite its growing popularity, cryptocurrency still struggles to gain mainstream appeal. While crypto has managed to distance itself from the early days, when it was used to buy illegal goods online, the currency still conjures up negative feelings for a lot of people unfamiliar with the technology — and all too often, for good reasons.
Cryptocurrency is still relatively new, which means that many casual users are still exploring different ways to use crypto in their day-to-day lives. Unfortunately, this lack of knowledge leaves a lot of users vulnerable to scammers seeking to take advantage of their ignorance and inexperience.
We’ve contacted various types of people within the crypto community, surveying newbies, traders, investors, and professionals, asking what the biggest problems in crypto are. We found there to be three major problems holding the industry back:
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The crypto community is overrun with scammers taking advantage of inexperienced and naive users. What’s more, scams don’t only occur on an individual level.…
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