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IBM blockchain partners with Stellar to expand Cross-border banking networks – Cryptoline News

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According to head of IBM Blockchain development solutions Jesse Lund, this tech giant company is ready to announce its world wide wire platform. The platform will be using the Stellar protocol in order to power cross-border payments.

The head of IBM Jesse Lund explained in a report, that banks are very interested in the utilization of stablecoins, which are a form of cryptocurrencies that are designed to maintain stable prices between fiat currency measurements.

This is in order to move money more effectively move across the world and not really focused on future growth.

Compared to traditional money moving around on legacy systems, this strategy gets rid of the need for clearing houses, together with various intermediaries. This means that these cryptocurrency payments can be settled much faster and more cheaply.

A statement from the company stated;

“WE’RE REALLY FEELING EXCITED THAT WE’RE ON A ROLL TO BUILD SOMETHING NEW AND REVOLUTIONARY THAT’S REALLY GOING TO CHANGE THE LANDSCAPE OF CROSS-BORDER PAYMENTS.”

Jesse also stated that:

“I CAN CONFIRM THAT WE’RE GOING TO BE TALKING ABOUT MORE THAN A FEW BANKS AROUND THE WORLD WHO ARE VERY INTERESTED AND SEE TREMENDOUS BUSINESS BENEFITS TO ISSUE STABLECOINS IN THEIR NATIVE FIAT CURRENCY. AND THAT ONLY CREATES A BETTER ECOSYSTEM FOR PARTICIPANTS ON THE WORLD WIRE NETWORK.”

These Tech giants have been trying to appeal to mobile users on the move for a long time now. IBM is not the only incumbent trying to harness these emerging market solutions in order to revolutionize the banking industry.

JPMorgan coin and the IMB World Wire

JP Morgan became the first major bank in the US to create its own digital asset (JPM Coin) after more than a decade of this technology being around. This JPM Coin is designed to power networks for setting up payments between lenders and it clients utilizing the blockchain technology.

As Dimon mentioned:

“JPMORGAN COIN COULD BE INTERNAL, COULD BE COMMERCIAL, IT COULD ONE DAY BE CONSUMER.”

IBM was asked on how different the IBM World Wire would be from the JPM Coin, and they outlined that one of the key distinctions between JPM’s Model of exclusion and IBM model will be:

“IT’S NOT A PROPRIETARY SOLUTION LIKE JPM COIN’S SOLUTION, ALTHOUGH I THINK WHAT THEY’RE DOING MAKES A LOT OF SENSE FOR THEM. WHAT JPM IS DOING ALSO, I THINK ADDS TREMENDOUS VALIDATION TO WHAT WE’RE DOING. BUT OUR VIEW WORLD WIRE SEEKS TO DO IS PROVIDE FUNGIBILITY OF DIGITAL ASSETS ACROSS FINANCIAL INSTITUTIONS. SO I THINK THAT’S REALLY GOING TO BE THE GAME CHANGER IN THE FUTURE.”

Lund and Jed McCaleb, the co-founders of Stellar, will be giving a presentation on digital assets and banking at the upcoming Money20/20 conference in Singapore on March the 19th.

IBM will also be making an “exclusive product announcement” during the event, whether this will be related to the blockchain technology still remains to be confirmed.

Stellar

Stellar Price Analysis: Stellar (XLM) badly under market pressure; hovers around $0.067

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  • Stellar (XLM) price gets bit by a bear.
  • The coin’s tremendous fall scars the traders.

Stellar (XLM) started the month with a downtrend. The time was considered favorable for most of the coins and Bitcoin (BTC) was dealing around USD 12,000. The coin took a week to improve its momentum.

During the last week, the coin started escalating. The traders who got worried in the initial period took a deep sigh of relief. Well, the coin has again started falling. The entire week was a nightmare for many investors. Let’s have a look at the intraday chart.

XLM to USD Price Comparison:

The chart is taken from Trading View on 18th August 2019, at 05:22:31 UTC for price analysis.

XLM Price Chart
XLM Price Chart by TradingView

Yesterday, the coin opened with a slight escalation of 1.42% as the price changed from $0.068 to $0.069. The coin started falling from then. The first drop was of 0.54%. The price changed from $0.0694 to $0.0690. The second fall was of 2.30%. The price changed from $0.069 to $0.067 by 2.30%. The third drop was of 1.06%. The price slipped from $0.067 to $0.066. The coin closed with a loss of 0.90% at $0.067. Today, the coin has again opened with a dropped. The downtrend was of 0.85% from $0.0678 to $0.0672.

Current Statistics of XLM:

ParticularsStellar (XLM)
Price0.067940 USD
ROI2183.16%
Rank11
Circulating Supply19,633,542,414 XLM
Total Supply105,243,009,213 XLM
Market Cap1,333,900,439 USD
24hr Volume47,784,793 USD

Stellar Price Prediction and Conclusion:

Stellar (XLM) has shown an extraordinary run in the last month chart. Our hopes from the coin are high. The current situation of the coin might be a little scary, but the currency has great potential. We are positive that investing in Stellar wouldn’t go futile.

In the coming years, Stellar (XLM) is considered to touch some huge digits on the price chart. The traders should dig in with a long term investment plan to book huge profits in the future.

Source.cryptonewsz.

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Stellar

Stellar Price Analysis: Stellar (XLM) badly under market pressure; hovers around $0.067

Published

on

  • Stellar (XLM) price gets bit by a bear.
  • The coin’s tremendous fall scars the traders.

Stellar (XLM) started the month with a downtrend. The time was considered favorable for most of the coins and Bitcoin (BTC) was dealing around USD 12,000. The coin took a week to improve its momentum.

During the last week, the coin started escalating. The traders who got worried in the initial period took a deep sigh of relief. Well, the coin has again started falling. The entire week was a nightmare for many investors. Let’s have a look at the intraday chart.

XLM to USD Price Comparison:

The chart is taken from Trading View on 18th August 2019, at 05:22:31 UTC for price analysis.

XLM Price Chart
XLM Price Chart by TradingView

Yesterday, the coin opened with a slight escalation of 1.42% as the price changed from $0.068 to $0.069. The coin started falling from then. The first drop was of 0.54%. The price changed from $0.0694 to $0.0690. The second fall was of 2.30%. The price changed from $0.069 to $0.067 by 2.30%. The third drop was of 1.06%. The price slipped from $0.067 to $0.066. The coin closed with a loss of 0.90% at $0.067. Today, the coin has again opened with a dropped. The downtrend was of 0.85% from $0.0678 to $0.0672.

Current Statistics of XLM:

ParticularsStellar (XLM)
Price0.067940 USD
ROI2183.16%
Rank11
Circulating Supply19,633,542,414 XLM
Total Supply105,243,009,213 XLM
Market Cap1,333,900,439 USD
24hr Volume47,784,793 USD

Stellar Price Prediction and Conclusion:

Stellar (XLM) has shown an extraordinary run in the last month chart. Our hopes from the coin are high. The current situation of the coin might be a little scary, but the currency has great potential. We are positive that investing in Stellar wouldn’t go futile.

In the coming years, Stellar (XLM) is considered to touch some huge digits on the price chart. The traders should dig in with a long term investment plan to book huge profits in the future.

Source:ourbitcoinnews

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Stellar price forecast: Bullish pressure likely on XLM after price correction

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Sellar is testing the $0.080 resistance level; if the bulls break the initial resistance level, XLM’s price will rise and reach a high of $0.09 price level.

Key Highlights

  • The demand zone of $0.07 holds as the bulls marked an upward move
  • XLM market is facing resistance at the $0.08 price level
  • Stellar Lumens native crypto, XLM’s price is likely to rise to the previous high of $0.09 price level

Stellar Current Statistics

The current price: $0.074

Market Capitalization: $1,467,975,839

Trading Volume: $56,933,556

Major supply zones: $0.09, $0.1, $0.11

Major demand zones: $0.07, $0.06, $0.05

Stellar (XLM) Price Analysis

The price of Stellar has reached the demand zone of $0.070 price level. The $0.070 support level is holding as the bulls struck an upward move to the previous high. In the previous low of July 16, the $0.080 support level was held as the bulls claimed an upward move but were resisted at the $0.10 price level.

This resistance resulted in the price to fall to the present low at $0.072 but before the support level at $0.070 price level. Today, the coin is testing the $0.080 resistance level; if the bulls break the initial resistance level, XLM’s price will rise and reach a high of $0.09 price level. On the other side, if the bulls break above the $0.09 price level, the crypto will continue its upward move.

XLMUSD-Daily Chart August 13, 2019

Chart Indicators Reading

Meanwhile, the XLM price is out of the oversold region of the Stochastic indicator, and it is above the 25% range. This indicates that buyers are likely to emerge, and it also shows a bullish signal. The bulls break the lower trend line, and the candlestick closed on the above it.

This is an indication that the bullish trend is likely to continue. The 12-day alongside 26-day EMA is still trending and pointing southward (indicating the downward direction). On the other side, if the bulls manage to break above the EMAs, the cryptocurrency’s price will be in the bullish trend zone.

General Outlook for XLM

The coin is likely to rise if the bulls manage to sustain the price above the lower trend line. Similarly, if the bulls break the initial resistance at the $0.08 price level, Stellar (XLM) will continue the bullish movement. On the other hand, if the bears break below the lower trend line again, the market will resume its downward trend.

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