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Stellar Surging, Now on Number 8: What’s the reason? XLM Price Analysis

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Steller Lumens or XLM is surging today with more than 13% rise in the last 24 hours. Börsenmedien AG is all set to buy a large amount of stake in SatoshiPay

Steller Lumens or XLM is surging today with more than 13% rise in the last 24 hours. Also Stellar is now the 8th largest cryptocurrency according to market capitalization (data from coinmarketcap). The market cap of Stellar is now more than $2 billion. Not only in the last 24 hours but in the last week as well, Stellar has been rising continuously due to the recent updates. On a weekly basis, Stellar is up by more than 22%.

 

Why did Stellar rise?

Börsenmedien AG, a giant financial information media company based in Germany is all set to buy a large amount of stake in SatoshiPay which is a startup based on Steller. This is one of the reasons which led to the sudden surge in the price of XLM. Börsenmedien AG wants to include SatoshiPay payment solution on their platform for their users to make payments on a single click.

 

Stellar Price Analysis:

XLM was trading at around $0.08 last week before the price started a bullish momentum. Stellar faced a lot of hurdles in between. Rising up to $0.088 on 8th March, the price started a downward correction but soon started the bullish force again on the 9th of March. With the continuous rise, Stellar has reached a monthly high of around $0.1097 today. XLM is currently correcting lower but it well supported around $0.1000. The current resistance lies around $0.1100 and if the buyers are able to break through this resistance, XLM may rise more to test the next resistance around $0.13000. However, if the current support of $0.1000 is broken, XLM might fall down to around $0.9400 where a large number of buyers are currently placed.

 

#Stellar

Stellar Lumens listed on Coinbase Pro: XLM surging after confirmation

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Stellar Lumes is being listed on Coinbase Pro as announced by Coinbase in an article on their website. Stellar lumens focuses on cross border payments.

Stellar Lumes is being listed on Coinbase Pro as announced by Coinbase in an article on their website. Stellar lumens is a coin that focuses on cross border payments. Earlier, Coinbase had announced the listing of XRP on the same platform and just as XRP, Stellar Lumens shall be available in states which are supported by Coinbase apart from New York.

After the announcement, people are expecting that Stellar Lumens shall also soon be available on Coinbase customer’s platform too as most of the tokens that are listed first on Coinbase Pro, soon get listed on the other platforms too. However, there is no confirmation from Coinbase about the same yet.

Coinbase had already made announcements in December last year that they would add thirty new tokens on the platform which included Stellar Lumens as well. As a testing phase, XLM listing shall be carried out in several stages before the actual trading starts. It will firstly be listed on transfer-only mode and later full trading shall start.

Stellar Lumens (XLM) is the native token of the stellar network which was founded by Jed McCaleb, the founder of Mt.Gox and also the co-founder of Ripple with Joyce Kim, a former lawyer. Coinbase described Stellar Network as a token that has an aim to connect banking institutions, payment systems and independent parties or individuals with each other in a rapid and authenticated way.

Stellar Lumens Daily Price Analysis:

XLMUSD Price Chart

XLMUSD Price Chart

Stellar Lumens (XLM) was trading around $0.1015 yesterday and soon after the announcement by Coinbase, it spiked upwards. It reached up to $0.1130 before starting to correct downwards. There are numerous resistances formed around $0.108 and $0.111 which are preventing XLM to rise further. Currently, XLM is correcting downwards with major support at $0.105. If this support is broken, XLM might crash down to the same level where from where it started the bull rally.

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Is Stellar going to overtake Ethereum?

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Recently there has been a migration by crypto projects away from Ethereum and Stellar Lumens has been one of the primary destinations.

Recently there has been a migration by crypto projects away from Ethereum and Stellar Lumens has been one of the primary destinations. Things like being able to easily generate dividends, limit who could hold tokens, time-bound functions for transactions as well as built-in token issuance capabilities making it super easy to launch a token and a dex which gives immediate liquidity without the need to go out and seek a third party exchange. Considering how hard and expensive it can be to get listed on a major exchange, this is actually a very powerful feature of stellar and all of this does offer a significant advantage over ethereum but ethereum also has its strong advantages as well.

Ethereum has the biggest developer community and Ethereum also has the widest acceptance in terms of wallets, exchange pairing, services catering to ethereum and other blockchains trying to build bridges to ethereum and a much larger amount of Dapps. Ethereum crushes Stellar in the Dapp category. And of course, the ERC20 token standard is right now an industry staple when it comes to tokens.

 

Speed:

Transactions per second are drastically different. Jed McCaleb, the co-founder of Stellar Lumes stated that Stellar can rather easily handle up to 4000 transactions per second with many more transactions possible as the network develops and depending upon the hardware used. Currently, Ethereum is around 15 transactions per second.

 

Fees:

In terms of fees to send a transaction on the stellar lumens network costs 0.00001 XLM that is approximately equal to $0 at this time. While Ethereum transactions are costing less at the moment with only a few cents on average for each transaction but this can be a lot more during peak traffic times. However, Ethereum team has promised lower fees in future.

 

Stellar Lumens Starlight:

Starlight is an implementation of bidirectional payment channels on Stellar. Payment channels will allow parties to transact privately, instantly and securly with zero fees. The Starlight is still in its early phases but it will be powerful when it does take off.

 

Public Figures:

Ethereum has people like Vitalik Buterin and Joe Lubin regularly going to events and developer conventions representing ethereum and these are a real help in spreading the message about ethereum. In contrast, the stellar lumens team seems to avoid the limelight.

 

Partners:

Stellar has some good partnerships such as IBM who says that Stellar is their go to the public blockchain. Stellar also recently received Sharia Compliance Certification which will allow Stellar to access a huge market of more than a billion Muslims in countries such as Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE and parts of South East Asia. These places will now be able to integrate Stellar technology in their Sharia Complaint product and service offerings as some of these regions are actually restricted due to Sharia Banking Laws that do not allow Non-Sharia-compliant assets.
But Ethereum kills it with adoption. The consensus design studio is a major industry force but what is the most outstanding is the Ethereum Enterprise Alliance. With members of the alliance including many of the world’s top banks, accounting firms, universities, corporations, governments, ministries and of course blockchain companies.

 

Supply

In terms of supply of the cryptocurrency, there is still a huge amount of XLM around 85% of the total supply to enter into the market which will happen slowly over time. Ethereum, in contrast, is on a fixed emmission code based release curve.

Ethereum in its correct form has a lot of issues majorly scalabily and speed. With so many developers working on plasma, interchain projects etc. all focused on ethereum but Stellar does today what Ethereum needed to do yesterday. All the Ethereum partners, developers and Dapps in the world will end up being worthless if ethereum does not deliver on its promises. That does not mean that Stellar is the only game changer. EOS, NEO and many more are all biting at ethereum’s heals. Infact, Tron’s founder Justin Sun is even calling for projects to move from Ethereum to Tron.

 

While Vitalik and company are all working on Ethereum, there are hosts of other blockchains who are out there right now eating Ethereum’s lunch. Stellar Lumens being one of them. Will Ethereum still be highly relevant by the time it delivers on its promises? What are your thoughts? Tell us in the comments secion below.

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Stellar Wallet to Airdrop $125 Million Crypto: Will Airdrops also go the ICO Way?

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A Stellar-Wallet keeper, named simply as Blockchain, has announced on Tuesday the launch of an airdrop of Stellar Lumens (XLM).

A Stellar-Wallet keeper, named simply as Blockchain, has announced on Tuesday the launch of an airdrop of Stellar Lumens (XLM).  The airdrop it is valued at $125 million, making it probably the largest such consignment ever to be distributed to users in following months.

Each user shall receive $20 and thereby draw them into owning or trading in these decentralized assets. The estimated value of one lumen to the dollar stands at $0.2538 varying by 5.05% in trading times, according to market charts. The Stellar Lumen is the six highest in market cap rankings currently.

CEO of Blockchain Peter Smith made in his Tweet called the airdrop the “biggest digital giveaway,” adding that the introductory offer was on the back of adding XLM to the blockchain wallet.

 

Airdrops and their Ethics

Airdrops are the latest and most funky way to feed users with cryptos and get them to adopt the decentralized system. Airdrops are marketing gimmick or the generosity of spirit of wallet providers the question of ‘airdrops,’ and their genuineness looms large.

 

More by Blockchain

The Blockchain giveaway of XLM says it is encouraged by its “30M wallet users” and is excited that XLM is now available on their wallet platform with full support.” Additionally, the wallet has said that it will not keep any of the XLM for themselves.

According to Smith, the reason Blockchain chose the Airdrop method is because it will help drive decentralization as well as the adoption of new networks. For crypto users also, it is a highly useful option. It will allow users to trade, test as well as transact on crypto assets and will not have to worry about technical issues involved in buying these assets or mining these assets. The bottom-line is that the Blockchain Wallet is the safest method to use crypto.

 

Why Stellar was inducted

Besides, with the launch of Stellar on Blockchain, there is added scope, the CEO believes. The platform on which Stellar is built allows easy scaling solutions, which is just the base which Blockchain itself needs to move forward to meet strategic goals. Stellar’s token XLM is low cost, fast and easily lends itself to cross-border transactions despite millions of transactions happening in parallel.

The advantage with Stellar is that it is easy to create tokens which are customized for such use. They also allow real-world services or virtual services and more importantly a functioning ecosystem.

 

Airdrop Partners

The wallet provider has indicated that the airdrop will be in association with Standford d.school’s tech initiative called Code.org, along with Network for Good. These organizations will provide the necessary transformational technology for building a promising future, Blockchain authorities said.  The use of airdrop is to provide a stepping stone for the users to obtain and access tokens which will give them control over their financial future.

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