Stellar Lumens (XLM) has been basking on the limelight a few days ago but seems to have hit a dead head after missing buyers above the $0.320 trading mark. However, all is not lost after its mission to bring more players onto its platform in the recent past. The influx of activity should be able to offer the support that XLM is missing.
Stellar Lumens, like most Altcoins, has been hit by price fluctuations in the market. The current uncertainty has however not dampened the coin quest to be the market leader and challenge its biggest rival, Ripple (XRP) in terms of market penetration, brand portfolio, value proposition and mass adoption. The current developments and achievements give the coin the upper hand to gain increased visibility in the crypto verse.
The SatoshiPay-Stellar Connection
The latest news about the collaboration between Stellar and SatoshiPay will boost the coin immensely. The new partner is set for a major IPO in the London Stock Exchange through AIM that is a sub-market of the stock exchange. This is a big move that will see the spend-ability of XLM coin put into test.
SatoshiPay popularity has been on the rise simply because the platform transactions are broken down to the micro level. Getting listed on AIM means increased traction and investors will have additional confidence to help the startup raise more funds for its development projects. Upon listing, Meinhard Benn, the SatoshiPay CEO said:
“This is a giant leap for SatoshiPay, and I am extremely proud that the startup I co-founded in 2014 has grown into a company that, with the support of an amazing team and fantastic investors, is now approaching a stock market float.”
Stellar Lumens Stronghold USD Mix
In its bid to showcase its real world user cases and possibility of increasing its institutional adoption portfolio, the ecosystem is set to play host to the stable coin that has all the backing for IBM. By simply letting the coin run on its platform, its credibility has grown to the next level. XLM holders are watching this new development with high hopes. The move has been supported by Shidan Gouran, The Global Blockchain Technologies Corporation COO and President:
“The introduction of Stronghold USD as an anchor on the Stellar network is a significant step forward for cryptocurrencies. This is because instead of Stellar trying to compete with chartered financial institutions, they were able to include them in a productive way that is beneficial to everyone. Already, this asset has usability on IBM’s blockchain applications, since an asset like Stronghold USD has the stability that is requisite for big-name players to make transactions on a blockchain platform. Since Ripple does the opposite of working around traditional financial institutions, this has limited its success. Adding the Stronghold USD asset to Stellar capitalizes on this weakness, and this will make some serious waves in the blockchain and fintech industries in the coming weeks, putting Stellar into the spotlight.”
Stellar (XLM) Goes Mobile through TransferTo
The partnership between Stellar and TransferTo is a clear competition call against Ripple. The fight for the extra inch in the cross border money transaction seems to be far from over. The boost will see XLM cannibalize a huge market that XRP seems to have dominated for the last one year.
The fight between the two giants will trickle down to benefit the consumer. Whoever covers the globe fast will benefit from the populations that have been neglected by traditional banks in the area of international remittances. Speed and efficiency will determine who get the larger pie piece.
Stellar (XLM) and Coinbase Suspense
The announcement that XLM is set on Coinbase radar has kept many investors in suspense. This is denying the coin the push it needs at the moment and once the systems go, it will be XLM to the moon. The July 13th Coinbase promise is yet to be confirmed and once it happens, it will be good news for the Stellar community:
Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX).
With these developments, the XLM future continues to brighten up and the coin remains bullish at press time. The XLM price is down by 9.67% to the dollar and 7.77% to Bitcoin and this is a reflection of the entire market. Major players like Bitcoin and Ethereum are down by 1.55% and 3.41% respectively and the ripple effect has hit most of the top 100 coins and tokens with equal measure.