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While the sell-off of the Altcoin market continues to hit hard on coins and tokens, Stellar (XLM) continues to hold a strong position and threatens to destabilize their rival bow, Ripple's XRP in the coming days. The demand for XLM continues to grow and this could complicate Ripples' ambition to dominate the market in which the two seem to overlap.
The recent acquisition of Stellar by Chain and the creation of a new interstellar outfit are a clear signal of where the currency is aimed and this could represent a huge challenge not only for Ripple but also for Ethereum. Interstellar comes at a time when the network has announced the onboarding of TokenSoft, a company that will open the ICO ports to the Stellar ecosystem.
Market demand for global seamless payments growing
The blockchain real world use cases have become a reality and Stellar and its native currency XLM are having the best. The launch of Blockchain World Wire by IBM on the star ecosystem will increase the dominance of the coins on the market and will make Ripple appear xVia, xCurrent and xRapid irrelevant.
In addition to the faster Blockchain World Wire payment transaction system, the IBM brand is respected worldwide and this will increase stellar visibility and give investors more reason to focus on XLM. With many investors panicked due to falling encryption prices and many owners leaving the fiat economy, Stellar is adding high-profile strategic partners to get on board when XLM prices are favorable. Jesse Lund, head of IBM's blockchain arm, says:
"Two financial institutions that negotiate together agree to use stable currencies, digital money from the central bank or other digital assets such as the heritage of the bridge between two currencies.The digital resource facilitates trade and provides important clearance instructions. "
IBM is a huge stimulus for Stellar in the technical and computer space and has given further appeal in areas where the blockchain has faced much resistance. This is a point of entry on the hot market for cryptocurrency and its foray will be felt all over the world and with the technology market ready for a change, it will be a huge success for XLM that pushed Lund to add:
"What is happening is that this emergence of a new segment could indeed be one of the largest segments that is a type of public network blocked but authorized."
Blockchain World Wire Boost for stellar adoption
Stellar is struggling to get the full backing of institutional investors and the push of the BWW is an infallible system that is ready to make this happen. However, the partnership is part of a huge program to spread Stellar and increase its value. More importantly, the coin will ride on the IBM brad name to turn it into a family brand.
With the recent FoMo resulting from the listing of CoinMase on XLM, currency valuation is set to grow based on the increase in use. Coinbase is recognized by the US regulatory body, SEC, and this has also given the coins the credibility that is lacking in competition. The millennia cryptic mania of the United States and the low price XLM have seen XLM increase in attention all over the United States.
However, the bear market continues to hold the XLM price for redemption with an important step forward. The last 24-hour trading window saw the trading of coins in the red territory after selling 1.22% and 0.59% to the dollar and Bitcoin respectively to trade at $ 0.199735 . With the acquisition of Chain and on-boarding of Blockchain World Wire, the XLM price is expected to exceed $ 1 in the fourth quarter and reach the $ 5 threshold in the second quarter of 2019.
With increasing activity behind the scenes on the ecosystem and investors to come on board, the price of the currency is ready for a huge increase before the closing of the fourth quarter. With the current sell-off, the next ICOs are observing the XLM value proposition compared to Ethereum while IBM is helping banking institutions to adopt Stellar by giving Ripple's sleepless XRP nights
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