Stellar XLM is looking to rebound after a very tough fortnight. Prices swam in a very concerning downtrend. The value for the coin has taken a dip from an all-time high of $0.91 in January. The value of the coin hit a snag and it came all the way down to $0.15 and this was against the USD. At the moment, it appears as though the Lumens are among some of the brightest stars on the market. They quickly gained trade at $0.20 in the last 24 hours alone. It also gained 6.86% against the dollar and over 2.23% against Bitcoin.
Moving forward, it certainly can be argued that the hottest coin on the market really can’t have this missing from the market. When you look at cross-border payments, some may argue that this is a very tight field and with Ripple being right at the top, it is safe to say that the market cap is around 5 times bigger. This may be the case at the moment, but a lot of work is being done behind the scenes for Stellar and this is easily a step in the right direction. Stellar was earmarked as being one of the coins that have the biggest potential and this is especially the case when it comes to striking it big on the market.
At the time, IBM and Stellar had just gone into partnership and is was aimed at utilising the network in order to facilitate cross-border payments. The deal was geared towards the Pacific-Asia corridor. There has also been a lot of enthusiasm with the possibility that the future expansion is going to encompass the market as much as possible.
A few days ago, it was announced that IBM had tested the Stellar network for the sheer purpose of deploying it across cross-border payments. This is said to have been done in a number of countries and Stellar is already with a leader who is powerful enough to take things to that next level. It may even be in the form of an IBM partnership. Speculation has suggested that IBM could be the lining as XLM is really the preferred cryptocurrency that is being used by central banks. We all know that Ripple is easily taking the same trajectory but the fact that it is centralised may help to tilt the playing field in favour of Stellar.
Stellar and ICO
ICO is one of the easiest avenues for Stellar to grow. This is not the most visible aspect of this network but when you look at the current influx of high profile projects, it isn’t hard to see why it is being chosen over Ethereum. The Stellar network has a very easy framework that is easy to deploy for smart contracts. This puts it in line for greater adoption as the value continues to grow. The crypto has a built-in SDEX and this is a component that gives it the chance to launch as an easy listing. This is especially the case when the token sale process is finished. One indicator that the XLM’s venture into the ICO market happened when the Mobius project chose to partner with it over Ethereum. Other projects have also shown interest in partnering up with Stellar. This includes the Kin foundation and even the Heir ICO. All of these projects are hoping to boost Stellar’s own network growth both in the long term and in the short term. It is also said that this is going to have a huge and long-term impact on the overall value of XLM.
Stellar has one advantage over Ripple and this is as they work together to try and reach a financial revolution. Ripple is more than content in grabbing banks and Stellar is also trying to aim at the population by providing a cheaper and safer method of sending money from country to country. The bearish market isn’t a one-off thing and the volatility will keep on being a huge issue. The Stellar network is really establishing itself to try and deal with the pessimistic trends in the future. The use of Lighting Network is going to try and improve both the speed and the scalability and this will make it more than suitable for cross-border payments.