It Is So Close To See The Stellar Bull Run
Last couple weeks had been remarkable for Ripple. Yet the end of the seven-day streak may have lead to a minor recession in the general advances made by the cryptocurrency. XRP is still up and is likely to continue bewildering.
Bearing in mind the bombshell news about Ripple’s xRapid platform likely being released to start contributing banks within the next couple of months, XRP’s advancement is relatively expected.
But the communal is always trying to find the next huge bull run. Ripple’s value looks as if it has largely festered from the time when the foremost boom it reached. Other cryptocurrencies that might be knotted to the value of XRP are the new objective of mass conjecture as customers and investors in the upward crypto markets look to recover some of their losses.
XLM, or Stellar is the main coin which is drawing the interest of speculating analysts in the crypto space. Stellar is a company that intends to do something mainly parallel to what Ripple wants to do; they are working to create a scalable ledger system to maximize efficiency in transacting between major banks in the traditional financial realm.
Predictors argue towards a longstanding tendency that within next few weeks, XLM naturally will follow just behind its participant in value as a proof that it is likely to practice a parallel bull run.
Advantage of The Stellar
According to some experts and their analysts within the crypto field, Stellar has a strong benefit in marketability over Ripple. Whereas Ripple is specifically made-to-order to work with traditional banks in the traditional finance field, professionals say that Stellar is exclusively suited to work with Initial Coin Offerings (ICOs) and Decentralized Applications (DApps). This double functionality is one of the core mechanisms of the Stellar appeal, and it might just be the object to stand out that permits the coinage.
Stellar has also assertively endeavored to place itself in a limelight beside Ethereum. Both platforms could be a chief benefit for the DApp and ICO conception process, though Stellar claims an imposing list of exclusive welfares, including low transaction fees, pre-made decentralized exchanges, and fissionable transaction capability.
The vast submission of the technology is clearly one factor that could push XLM to new heights, while Stellar is clearly still has a long way form taking Ethereum’s spot as the preferred among cryptocurrency developers and blockchain.
Regulation and Stellar
Regulation is a major concern for all cryptocurrencies. Stellar seems to have a comparatively close lock on the supervisory, regulatory efforts by leading bodies within its authority. The Stellar Foundation has kept its intention relatively straight—and out of the court room, while Ripple has been enforced to ward off many endeavored proceedings from furious investors who had lost money investing in their token.
While this does not necessarily mean that the currency does not have to concern about governing movement in the coming months and years, nonexistence of clear attack from litigators is a progressive indication for the future of the currency in a legal nimble.
Moderately often, Stellar’s team is also disreputable for coming out with updates to their platform. The development team for the Stellar Foundation has released information on at least three main updates to be supplementary to the long list of functions on the network in the last quarter of 2018 on on.
First of all , Stellar’s developers are working to draw near to other cryptos on the market with the operation of state channels. Under a state channel, users are capable to perform their own transactions without having to do them on the actual Stellar blockchain. This is stereotypically used when the expenditures being established are not old-fashioned forms of transactions.
Stellar is also planning to implement a beta for its new lightning network possibly more exciting for the tech-oriented professionals on the blockchain. The lightning network is a distributed ledger solution which permits for much faster and well-organized transactions to befall at an advanced volume. The lightning network could effortlessly make the Stellar blockchain meaningfully more effectual than it already is, of course in theory.
Captivatingly, the new updates will also contain the live, non-beta version of the Stellar Lightning Network. Considering that many cryptocurrency updates takes months or even years in their testing phase before hitting the true network and this is something unexpected.
Bull Run is Near
With the whole thing released by the Stellar team, it should come as no coincidence that some predictors are foreseeing an enormous bull run just before the end of this year. It is only a matter of time of course if XLM actually does plan to sustained to follow closely behind XRP.
4 questions (and answers) about World Wire and the rise of Stellar’s XLM
Stellar’s XLM has been on a roll recently, and with the backing of IBM and their joint venture, it looks set to continue. So what does World Wire mean for Stellar’s future, and the future of its competitors? Here are 4 questions (and answers) about World Wire and the rise of Stellar’s XLM …
The ultimate goal of most cryptocurrencies (Bitcoin first and foremost) is to undermine the banking industry, via decentralization; providing a route of payment and store of value that negates the need for banks and their various middlemen.
However, there are also some cryptocurrencies, alongside their parent companies, that aim to better the banking sector; providing them with an antidote for the legacy systems of old, and paving a way forward for these entrenched financial institutions.
One of those companies is Stellar, followed in toe by its blockchain and native token XLM.
Stellar has, for since its iteration been at the forefront, pioneering remittance solutions for these institutions and banking many partnerships along the way.
Why is XLM on the rise?
Back in September last year the IT monolith IBM, launched “World Wire”, a blockchain based payments system using the Stellar network to settle and clear cross border payments, using digital currency.
Not much came of this until last month, when Jesse Lund – IBM’s head of blockchain solutions – let slip that 30-40 banks across 50 countries would be on-boarded to the joint venture:
“We’ve got a launch announcement coming out soon… we’re going to be supporting more than 50 countries out of the gate, 30-40 currencies, and enough market makers to drag along 30 or 40 banks, so we’ll have a significant portion of the world covered,” explained Lund.
In the month following the news XLM climbed a massive 39%.
What does World Wire actually do?
Simply put the payment system works much the same as any other peer to peer crypto transaction except on a much grander scale. In order to use World Wire transacting institutions must agree on a transfer currency, also known as a “bridge currency.” under World Wire these options include either a stablecoin issued by IBM, or a cryptocurrency (including XLM).
Here’s the process:
Institution A (The sender) will convert their fiat currency using World Wire’s API into an agreed upon digital asset, World Wire will then convert the digital asset into the corresponding fiat currency of institution B (the receiver) all of which is recorded onto the Stellar blockchain.
So far, six international banks have signed letters of intent to use World Wire, including, Philippines-based RCBC, Brazil’s Banco Bradesco, and Bank Busan of South Korea.
The remaining 3 are currently undisclosed, and according to Lund, there are 40 banks to follow…
How could this help the banking industry?
At present, SWIFT dominates the cross border payments sector and that is SWFIT (you may have heard of it) aka The Society of Worldwide Interbank Financial Telecommunication.
The system runs on a network of tens of thousands of financial institutions worldwide; notifying banks on over $5 trillion of transactions per day.
Effectively Swift is a glorified messaging system, enabling financial institutions around the globe to send and receive information on transactions.
However, SWIFT doesn’t actually send money, effectively it’s a glorified messaging system, enabling financial institutions around the globe to send and receive information on transactions, slowly…. and usually with a hefty fee.
Essentially SWIFT is about as useful as sending a text you friend notifying them that you about send $10 to their account. Sure, they have a record of the ‘transaction’ that will take place, but no actual money has been sent; on top of this, that text message incurred a network fee… That is SWIFT.
And so this begs the question, why use SWIFT?
This is why blockchain solutions are gearing up to overtake SWIFT. Solutions, such as Stellar and IBM’s joint venture WorldWire, as well as Ripple, look too take advantage of the immutability and speed of blockchain coupled with the liquidity and low fees of cryptocurrencies to offer an all in one solution for payments.
What does World Wire mean for Ripple?
Ripple and Stellar have been competitors for a while, in fact, Stellar is actually a quasi offshoot of Ripple, created by one of ripples co-founders Jed McCaleb.
McCaleb split off from Ripple in 2014 to work on Stellar with a vision to provide the worlds unbanked population with financial services, as per the stellar website their mission statement reads:
“With a team of top technology and finance professionals, the non-profit Stellar.org expands access to low-cost financial services to fight poverty and maximize individual potential.”
However, over the years this philosophical vision has morphed more and more in line with that of Ripple, with aims to transform the way banks interact with each other, rather than simply banking the unbanked.
So could stellar challenge Ripple?
Simply put, yes.
Stellar, backed by IBM, now stands as a huge contender against Ripple, with an estimate 30-40 banks expected to be utilizing World Wire.
However, in comparison Ripple are said to have around 200 client banks using their payments services, including banking giant Santander.
So while Stellar and IBM pose a threat, it seems as if they still have some catching up to do. However, with up to 40 banks already signed up out of the gate, World Wire may still prove a worthy contestant.
Stellar Lumens Price Analysis: The IBM Pump, XLM Outperforming
Latest Stellar Lumens (XLM) News
The backbone of IBM’s success is its never-ending research and open nature. Describing itself as an information technology company, the American multinational is also a leader in blockchain with a presence in more than 170 countries.
Read: The Unsung Companions in the Bitcoin World: Crypto Custody and Caution
As a multi-billion dollar company with strong ties with the financial sector, the corporation is clearly pouring money into research and as they bid to be a market leader in providing enterprise-grade, open source blockchain solutions to willing clients, they are demonstrating that they have the capacity and the willingness to help transition financial institutions from legacy systems with high latency levels to a new form system that is global, fast and above all cheap.
Their real-time global payment system, World Wire, was launched yesterday after being in trials in the last two years. Well, what should be exciting for Stellar Lumens token holders is that the network will be based on the Stellar platform with an express objective of “accelerating remittances and transforming cross-border payments to facilitate the movement of money in countries that need it most.”
Also Read: Apple Pay, Samsung Pay Options Now Usable for Qtum Users to Trade Crypto After Zeus Partnership
Aside from offering USD support—even if the service is not yet available in the US—the network will support several digital assets. Already, Stronghold, a stable coin pegged to the USD and XLM are the two coins available for Stellar network users and upon selection as settlement, the coin can be used to transmit value during cross border payment in near real-time.
XLM/USD Price Analysis
XLM performance has been exemplary in the last couple of days. Thanks to yesterday’s impressive march, Stellar Lumens (XLM) is a top performer, adding 12 percent in the last week. Even so, candlestick arrangement points to further upsides and after clearing the 8 cents mark in a bullish breakout trade, we expect increased demand for the coin thanks to supportive fundamentals.
Note that XLM is trading within a bullish breakout trade against the USD. Concurrently, there is increasing bullish momentum as demand increases. Recent bull bars are banding along the upper BB as BB bands diverge hinting at increasing volatility in lower time frames. A look at trade volumes shows that participation levels have more than doubled in the last week—from 4 million registered on Mar 10 to 8 million of Mar 18.
At this pace, every low should be a buying opportunity for aggressive traders whose long signals were activated when prices edged past 8 cents with above average volumes. For conservative or risk-averse traders, the only time they should activate their longs is once prices break above 15 cents with ideal volumes exceeding Dec 21—20 million. It is after that when they should adjust their positions, ramp up on dips with first targets at 30 cents or Nov 2018 highs.
Stellar (XLM) spiked on IBM partnership news; the upside is fading away
- IBM hints at a major announcement within partnership with Stellar.
- XLM is reyracing from recent highs.
Stellar (XLM) joined the group of bet performing cryptocurrencies with double-digit growth on a day-over-day basis amid positive fundamental developments spurred by general excitement on the cryptocurrency markets.
XLM/USD is changing hands at $0.0871, 2% higher from this time on Tuesday. The coin bottomed out at $0.0665 on February 6. Since that time, Stellar’s market value increased by 36%. Now it takes the 8th place in the global cryptocurrency rating compiled by CoinMarketCap.
Meanwhile, the Head of Blockchain Development & Digital Currencies in IBM Jesse Lund mentioned that the company might announce a partnership with Stellar Development Foundation
Speaking at IBM Think 2019 conference, he said that he was going to speak at a major event in Singapore with his friend Jed McCaleb, a co-founder and the CTO of Stellar.org
They are expected to outline the existing partnership between the companies and potentially announce a future product that may come out of it.
“World-Wire is differentiating itself from other solutions… in our approach to supporting a whole variety of digital assets which range from cryptocurrencies…[to] central bank-issued digital currencies.” – he said.
These vague hints set Stellar on fire and helped the coin to surpass several technical barriers.
Stellar’s technical picture
XLM/USD is supported by SMA200 (1-hour chart) at $0.856. Once it is cleared, the sell-off may be extended towards $0.0790-$0.0770. This support area is created by a confluence of SMA50 and SMA100 (1-hour). On the upside, the recovery is likely to be limited by the recent high of $0.0900.