Stellar (XLM) Surrounded By A Slew Of Good News
In the world of cryptocurrency, quick turnarounds are not unusual. But super-quick ones always turn heads and there are no sharper eyes than those watching the crypto market.
To put it plainly, Stellar (XLM) has caught the eye of cryptocurrency investors, the majority of who seem to have come to this conclusion: XLM’s price surge will topple many altcoins on its way towards the top.
Where do we get such a bullish belief in one of the newest coins in a crowded crypto-field? The answer is not in what I say, but what Stellar has posted in a week where green dotted most price changes. Read on to find out exactly why and what is driving market experts and seasoned crypto-investors to take turns in predicting a stellar year for XLM.
Stellar (XLM) price charts show strong performance
Cryptocurrency markets are highly fluid and it is highly unlikely that any given coin can maintain a bullish run when all others seem to fight to stay up. Price charts these past weeks were dotted with red- drops a common feature.
Not so with Stellar (XLM); the charts read like a smooth upward curve. The 24h and 7-day volumes indicate that Stellar has had a 59% gain.
Stellar is on a march, a bullish break from the rest as it records strong showing in the market. Exchange markets show that the price gain is being driven by a spike in the volume of BTC/XLM.
It is expected that many Bitcoin investors are offloading some of their Bitcoin to buy XLM which is valued at just $0.45 this week.
Related to the price is the RSI index that shows Stellar (XLM) has moved higher past the neutral level, a significant movement in cryptocurrency. This is usually a marker that the crypto price is about to embark on a rally.
The price of XLM has been in the green throughout this week, closing the week as the top coin by value gain.
Support from a strong #Stellar community
No. it’s not about the numbers; it’s about what the members can do. Recently, Stripe, an internet business service provider, announced that they would be offering support to Stellar coin.
The community reacted to that by investing in Stellar. In the same week, prices shot up, increasing by over 20%. The same scenario was witnessed when Stellar announced that they were partnering IBM and Deloitte.
The community has a strong belief in the cryptocurrency and the wider market has no option but to take note. That seems to have happened because experts are now calling XLM as a long trade. Take a look at the XLM chart on CoinMarketCap.com to understand what I am talking about.
Why else should you be looking at Stellar (XLM)?
A growing number of projects are taking shape on Stellar Lumens. It’s a strong signal that what Stellar has to offer augers well for the future.
Stellarport is a launch pad for more projects on Stellar
Stellarport, a decentralized exchange, was built on Stellar’s platform. Is this any different from the other projects launched on Ethereum? Yes, if you ask me.
Stellarport allows new coins to be traded instantly after an ICO, enabling developers and users to swiftly move from the ERC20 token on Ethereum’s platform on to Stellar using XLM tokens.
If we put into consideration that other companies are choosing to build on Stellar, then it is just a matter of time before XLM becomes the preferred payment currency. The more projects that launch on Stellar, the more widely XLM gets adopted by the community.
Newer token coins like Smartlands (SLT) have been listed on Stellarport to add onto the SureRemit (RMT) crypto and the bulk of the exchange’s volume represented by XLM and MOBI. These are just a few of the signs that Stellar is going to be big in 2018.
XLM is on eTORO and that is a massive opportunity for exposure
This alone should be good news for Stellar. eTORO does not specialize in cryptocurrency, it only recently allowed the trading of crypto. But by listing XLM among the first six coins, the site has sent a strong statement that Stellar is a serious cryptocurrency.
eToro has a trading base of 6 million people. The exposure Stellar will get from trading on this platform will only serve to drive up interest in XLM. That further exposes the world to use cases capable on the Stellar network. By Q2 2018, XLM may be over $1, up from the current $0.45.
The listing on eToro will augment gains made on exchanges like Binance and Bittrex which are also major trading sites.
Is Stellar (XLM) going to sustain the pressure on the top coins?
I think that’s exactly what will happen. And it may even get better for Stellar if the much anticipated Fairx crypto launches on Stellar. Meanwhile, we continue to watch the crypto charts as XLM outshines XRP and many other altcoins.
It is a good time to be a holder of XLM, though those looking to buy some Stellar (XLM) can still do it because the price is very much affordable. However, the most important thing is to remember that cryptocurrency investments are highly risky ventures. Invest wisely.