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Stellar (XLM) will hit the $1 mark sooner than you imagine, here’s why

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Once IBM announced its new partnership with Stellar Lumens (XLM), which included eight new validators for Stellar’s network, provided by IBM, XLM’s price rose to $0.24.

Stellar introduced their concept of a network ATM last year in Singapore in a move that will bring a lot of attention to their currency in particular and the crypto world in general. Jed McCaleb (one of Stellar’s founders) announced as well that more than thirty banks would join the Stellar/IBM blockchain partnership (and that’s happened already). If that wasn’t enough great news, Nano Ledger S included the token in its list, and that all happened a decent time ago – many other good things have happened, too.

Stellar has grown by 6,300% (when we talk about the point from where the currency started its journey) despite the fact that it’s been included in exchanges only very recently. It’s an amazing feat for a relatively young project.

This has a lot to do with the number of other partnerships that Stellar Lumens has achieved. Let’s have a look at some of them:

  • SatoshiPay. A service that allows websites to monetize in digital currencies.
  • Keybase. A company working on centralization and privacy (has got pretty much the same beliefs has Stellar does). They have 200K users already, and growing rapidly – there’s an open Stellar team on the Keybase now.
  • EXCH.ONE. It is a Swiss exchange that wants to include both fiat and digital currencies. They want Stellar to go along with them in Europe and the Americas.
  • Klick-Ex. A famous firm that provides international transactions, especially relevant in Europe and the Pacific.
  • HashCash. Developers of solutions for financial institutions such as banks.
  • Mobius. This service will make them relevant in the mobile market. It has the ability to make smart contracts for non-chain users. Stellar’s co-founder, Jed McCaleb, is also part of Mobius.
  • Deloitte. A consulting firm with clients who are in the Fortune 500 companies list. The firm expects some of its clients to adopt XLM soon.

Why are firms going for Stellar?

It would seem that Stellar means to steal Ethereum’s ICO protagonism when it comes to creating simple tokens, at the very least. Ethereum creates a new ICO by creating a new token based on the ERC-20 blockchain. This, still relatively new (if you compare it with the big guns), the token is nothing but a smart contract written in Ethereum’s Solidity programming language.

Stellar Lumens (XLM) uses a simpler, more user-friendly, language that could even do away with the need to have a Solidity expert at hand.

Solidity’s many pros include its similarity to JavaScript, which most programmers usually master already, that allows lots of freedom for the developer when the contract is created. So this kind of contract can be very simple or very complicated but it implies the risk that it also allows for ill-disposed contracts to be created thus hurting both users and the network. Not long ago a developer’s mistake caused 150 million dollars to be frozen.

Blockchain networks need validation and validation takes power. This is one of the issues with blockchain technology. Bitcoin is notorious because of the huge amounts of power it takes to mine even a single block. Stellar offers an alternative. The use of the Consensus Algorithm saves a lot of energy, requires no mining per se and that makes everything cheaper.

Stellar (XLM) Market Analysis

With $5,152,384,774 in market capitalization, Stellar (XLM) currently holds the 8th place. This is impressive when you consider that all this progress has been made within just a couple of years. Many institutions have given Stellar their public support so FOMO is taking over FUD in social media, neutral observers, and crypto enthusiasts.

When Stellar Lumen’s XLM came live, it was traded at fractions of a penny. Now it’s at $0.27 USD which makes for almost a 6000% increment. Again, it’s not even been five full months yet.

So XLM is growing quickly but it’s still very cheap. This is very attractive for investors who expect this coin to keep growing. For them, this means they are in time to buy it in bulk and then just sit back, and watch it grow.

If the crypto economy goes all the way to another trillion dollars more or less soon (as it’s expected), then by coming September, Stellar could be on Coinmarketcap’s top 5 and could hit the one dollar mark during November or December.

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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.

Image courtesy of Pixabay via Pexels.com

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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