Stellar Lumens News Updates
Stellar Lumens (XLM) was having a hard time trying to push its prices up. However, things changed in the middle of the week. The coin recovered after Mobile currency used Stellar Consensus Protocol to raise up to $30 million. Mobilecoin is a privacy-based ICO, and the announcement concerning the ICO using Stellar to raise funds attracted traffic to Stellar Lumens.
The recovery continued on Friday with the cryptocurrency leading the recovery. Every coin in the top 25 rank also enjoyed some gains through the recovery. The crypto market recorded an increase in market value. The value of the market is now $415.5 billion with transaction volumes worth $27.4 billion.
Mobilecoin uses the Stellar Consensus Protocol to ensure quick mobile payments. The ICO will allow people to integrate mobile payments into the regular messaging mobile applications such as WhatsApp. Mobilecoin is a Canadian startup, and it has the support of influential blockchain players including Binance Labs. The ICO sold its token through Ethereum. One token cost $0.10, and the crowd raise met a target of $20 million quickly.
The integration of Stellar with Mobilecoin is beneficial to the cryptocurrency. The results have started showing the price of the coin increased. The fact that Mobilecoin will allow users to integrate payment systems into mobile messaging applications is also an advantage to stellar. Stellar might become the currency that would foster a solution for people who want to transfer and receive money through mobile messaging apps through blockchain.
In a roundup of events, Stellar Lumens has emerged the most performing altcoin according to the Coinmarketcap. There is a 16% increase in the price of the coin compared to other coins. The coin is currently trading at $0.42. The currency was trading at $0.36 a few days ago. Bitcoin, on the other hand, was trading at an increased price of 3.6%. The integration of Mobilecoin provoked this stellar Lumens rally. However, crypto enthusiasts are expecting more rallies and here is why.
Three Reasons Why Crypto enthusiasts are Optimistic about Stellar Lumens
The coin has a community friendly inflation pool. The currency does not reward its members through dividends. Members receive rewards through inflation. The company announced that it would give out 100,000 digital coins to members every week. The company distributes fees and inflation according to the number of Lumens a member owns. That also determines their voting right. There are no charges for the distribution of the Lumens. This method is attractive and is bound to produce good results.
Many currencies are making leaps by integrating into notable platforms. Stellar Lumens will join the Lobster soon. Lobster announced in March, and this has caused excitement in the cryptocurrency market. Users can create accounts, deposit Lumens and then change Lumens to other coins using the platform. Users would be able to trade in currencies including Smartlands, KIN, Mobius, and Ternio. Members can access the wallet on IOS and Android devices. The interface is simple and easy to use. The wallet is easy to use even for people who are crypto novices. The wallet also features a two-way verification system that allows you to protect your wallet using Pin and fingerprint protection.
The next reason why crypto enthusiasts are optimistic about Stellar Lumens is the Repo coin airdrop. The repo coin platform uses the Lumens Consensus protocol to substitute traditional ERC20. The Repo coin solves non-payment issues, and it also uses technology to resolve the problems concerning securities by debtors. An account holder will need to hold at least 3 XLM in his or her account to be able to participate in an airdrop. Every participant also stands a chance of getting up to $100 Repo coin in their wallet. These reasons have a high probability of attracting new investors unto the Stellar Lumens platform.
The competition Between Ripple and Stellar Lumens
The two currencies, Stellar Lumens and Ripple have always found themselves in the top 25 cryptocurrencies. The two coins have great potential and do not have a tough time attracting investors. The two currencies are also similar and the that is not surprising because one person, Jed McCaleb created them. The two, however, were founded under different circumstances hence the competition. There have been discussions on which coin is performing well. Before we analyze the performance of these coins, it would be great to take a look at how these coins came about.
Ripple was created to provide faster transactions while charging lower costs for international payments. OpenCoin corporation formed the coin while stellar Lumens is a product of a Non-profit organization called Stellar Development Organization. The Ripple protocol was used to create Stellar Lumens. In fact, Stellar Lumens was designed to fix the problems encountered by Ripple. The coin was later branded to stand on its own.
Many organizations prefer to make payments using Ripple coins on the Ripple network. Ripple is gradually becoming an international for money transfer. Stellar allows trades between individuals with Lumens as the medium of trade. In the crypto market today, Stellar has managed to engage its investors and boost up their confidence due to their recent recovery. Ripple, on the other hand, continues to drop thereby reducing investor confidence in the coin.
Ripple in more popular in comparison to Stellar. However, Stellar has performed better than Ripple this week. Stellar managed to get the attention of Crypto enthusiasts with new integrations. There are also chances of price rises for Stellar in the coming months due to their integration to the Lobster wallet as well as the Repo airdrop. However, the crypto market is full of surprises and Ripple might surprise its followers with a swift move.
It is not easy to predict if Stellar Lumens will continue to lead the coinmarketcap with its recovery. It would have been great to invest a few days ago, but now, predictions may go wrong. XLM is enjoying a high price currently and new investors might lose out if they buy now and the prices drop. It would be great to research more before investing.