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Not even Stellar Lumens (XLM-USD) was spared from the cryptocurrencies suffered in 2018. The fifth largest cryptocurrency has lost more than 72% of its value since January.
However, as we have seen in the past some developments can bring life back to a currency and, for this reason, we have every reason to believe that XLM could regroup soon. Below we will analyze the reasons why it may now be the right time to invest in Stellar Lumens.
Global adoption plans
News from a special team created to help the cryptocurrency platform reach global adoption has pushed XLM to overcome EOS in fifth place in the coin market.
The team will be composed of Shift Markets who collaborated with Lightyear.io. Commenting on this partnership, Ian McAfee, CEO of Shift, said it was an exciting partnership for the platform as many of its customers would like to trade Stellar Lumens on the exchange.
He praised Stellar for his efforts to provide financial technologies that cost less in developing countries, making it perfect for the Shift market.
He added that the exchange aimed to increase the liquidity of Stellar Lumens and its use for both major legal currencies and for forced legal currencies.
had Lightyear.io's sales and partnership director, Paul Arnautoff, enthusiastic, and he said, working with Shift Markets, that they would help expand the utility and reach of the Stellar chain network.
He also added that Stellar's customers would now be lucky to have access to a growing number of liquidity providers in new and emerging markets, thanks to market technology and Shift's customer base.
The Projects [19659011] As teams work to expand the reach and international adoption of Stellar, the innovation that surrounds Stellar remains strong. And its position as a platform will be assessed on what is being built on top of Stellar; projects that use the platform and provide value to XLM-USD holders.
What is happening with the Stellar projects? Well, we should start with the biggest: KIN. While KIN said it will not work exclusively on Stellar, he will perform part of his operation on the chain. And in Stellar, KIN, the now infamous mega-ICO currency, sees a potentially better platform than Ethereum. KIN wants to be an in-app currency for generations of apps; a mobile payment solution that can facilitate micro-transactions at no cost. And it's a creation of the Kik team, the popular messaging app with millions of daily users. This could help KIN and its use of stellar blockchains as one of the first in-app currencies widely adopted.
From KIN, a coin corresponding to an app with millions of average daily users, we see a list of Stellar partners that includes IBM, a decidedly mainstream company for crazy and crazy markets. IBM has worked with Stellar for some time, but has also illuminated the power of a platform that is now trying to split a lot: payment processing in Africa, real estate and lending peer to peer. Diversity should indicate some interest in how far this platform can go.
Although the potential for success of these partners is far-reaching, we can revisit the IBM partnership, which gave Stellar a boost a few weeks ago, when IBM announced that it was exploring a stablecoin based, you guessed it, the blockchain of Stellar. What's the big problem with the stablecoin? Well, it can be pegged to a dollar, allowing a blockchain-based asset to use this technology (faster speed, lower cost) without the volatility we're seeing in coins like Bitcoin and Stellar.
And if international monetary systems interest you, then the recent Stellar certification may be of interest to you.
Sharia Stellare Certification Received
The currency received an enormous boost in July after the publication of a document stating that the Stellar network had received the first Sharia of the Cryptoverse Certification of the Shariyah Review Bureau (SRB ).
This happened after the agency, authorized by the Central Bank of Bahrain, examined the properties and applications of Stellar and ascertained that they were in conformity with Sharia. SRB has therefore developed guidelines that would see the Sharia compliant applications of the Stellar platform used in Islamic financial institutions.
According to the document, certification would help Stellar grow its ecosystem in areas where compliance with Islamic funding laws was required.
"What does this certification mean for the Stellar ecosystem? In collaboration with SRB, this certification will help to grow the star ecosystem in regions where financial services require compliance with Islamic funding principles. For example, Islamic financial institutions in the Gulf Cooperation Council (eg Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates) and parts of Southeast Asia (eg Indonesia and Malaysia) will now be able to integrate the technology Stellar in their offer of products and services compliant with Sharia, the star network as these regions are terminal points of the popular remittance corridors of foreign workers. "
To this the news has seen XLM outperform the other overcoins and gain over 20% in a 24-hour trading period to trade at $ 0.27.
Since then, the price of money has declined, but members of the Stellar Development Foundation continue to meet with global financial institutions to show the benefits of the Stellar platform. And now that it can launch to institutions with a Sharia compliant chain, it opens the door to more financial products and services. This 20% increase may not have been a stroke of luck, but a true demonstration of optimism that the Stellar blockchain can be part of a different and innovative future.
Price Movement
XLM Annual Trading Chart
Stellar got the highest price on January 4 when the currency was trading at $ 0.93. Since then, XLM has lost more than 72% of its value and is currently trading at $ 0.21. However, as we have seen with these new developments, which all point to global adoption, at least we can expect the currency to exceed its highest price very soon
. I understand that the recent moves of the crypt have not very bright investors, but this was always a high-risk market – big ups and downs and big thugs. For those interested in the possibility of blockchain platforms, these pickets are moments in which to collect coins at discounted prices. And there is enough good news around Stellar (we have not even talked about the much-publicized announcement of Coinbase) that the current price may just be the theft you are looking for in the crypt.
The page above lists the market that XLM-USD is trading on. If you are interested in trading on XLM, we recommend using Binance or Bittrex using any trading pair that you feel comfortable (USDT-USD, ETH-USD or BTC-USD).
Bitcoin may have come down from the stratosphere, but there is still an abundance of opportunities in cryptocurrencies. At Coin Agora, our focus is on altcoin, the smaller cryptos that have enormous potential for disrupting corporate ecosystems. Invest with us for the opportunity to enter the ground floor. Our mission is to help you find small, new and growing coins and collect rich returns. Let us help you overcome the noise and find the winners – join the Coin Agora community today!
Disclosure: We are / are long XLM-USD.
Disclosure of Business Relations: This article was written in collaboration with a researcher. No one involved has any relationship with the Stellar team.
"What does this certification mean for the Stellar ecosystem? In collaboration with SRB, this certification will help to grow the star ecosystem in regions where financial services require compliance with Islamic funding principles. For example, Islamic financial institutions in the Gulf Cooperation Council (eg Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates) and parts of Southeast Asia (eg Indonesia and Malaysia) will now be able to integrate the technology Stellar in their offer of products and services compliant with Sharia, the star network as these regions are terminal points of the popular remittance corridors of foreign workers. "
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