Will Stellar (XLM) Reach $1 Sooner Than We Expected?


Does Stellar (XLM) have the support to rally to $1 sooner than we expected? That’s a question whose answer is increasingly becoming affirmative.

In a week where uncertainty reared its ugly head again, XLM stood out to lead the market back to recovery. That happened even as a series of events continue to shape the Stellar landscape. Currently priced at above $0.4 against the USD, the short-term outlook appears to suggest we could see a rally.

If that happens and the coin consolidates support above $0.5, then another wave could see it close the gap towards that elusive dollar mark. That momentum is picking speed this week with positive events surrounding the platform between Wednesday and Friday.

XLM/USD is trading at $0.412, a surge of more than 10% in the last 24 hours and cumulatively has gained over 17% over the last 7 days. This gain is primarily driven by increased trading activity on its top three markets. Binance leads with 22% of the daily volume, followed by Poloniex and Upbit, 18% and 15% respectively. XLM/BTC and XLM/KRW are its two most active pairs.

The Mobile Coin mobile integration

Stellar’s platform is destined to reap the benefits of being associated with the $30 million Mobile Coin crowd raise.

Even though not an ICO on the Stellar network, this integration for the sake of the drive is a plus. Already the Mobile Coin factor has proven to be one of the catalysts instilling a positive sentiment pushing XLM to gain in the market.

The use of Stellar consensus Protocol (SCP) not only approves of the network but also sets it nicely for more developers and creators to launch their token offerings on the platform.

But perhaps the biggest gain from the crowd raise is the integration of Stellar and Mobile Coin’s mobile platform. It enables Stellar to venture into the mobile payments space. This could be huge for the network as it tries to strengthen its presence in the payments industry.

This may have already helped put lumens into the wallets of people who until recently knew very little of it. I’ll More on this later.

With a mobile integration framework in place, XLM could be used to facilitate the transfer of money via messaging services. It can be a big factor for the bulls to capitalize on and see the value surge towards the one dollar target.

The Lumenette App Promo

There is a Reddit promo in the official Stellar subreddit thread about a promotion dubbed “Lumenette”. It is aimed at pushing Stellarlumens towards the top 5 in the market.

Users on the Stellar platform are being requested to send lumens to 10 of their mobile contacts to earn rewards. This is the message addressed to the community.

Will Stellar (XLM) Reach  Sooner Than We Expected?Lumenette mobile wallet app is designed to allow anyone holding lumens to send them to any of their contacts through the phone or via email. The creators of the app claim to have been inspired by Venmo, only this focuses on crypto transactions. The wallet is powered by SCP and supports multiple assets.

The aim of the wallet is to have as many holders of XLM market the coin by sending it to people with no previous knowledge of the crypto. It thus aims at growing the user base of XLM. The wallet has pin protection and Touch ID for security and also has federation support.

The race to share promotion, where users are to send to five new users, is likely to increase XLM’s base and push up demand for the coin. The promotion will run up to 3rd May 2018. Yet I believe the effect will last longer than the period of the promo.

Making it easier to receive and send crypto on the go will definitely impact on demand as more people find it easier to handle cryptocurrency.

What else is looking up for Stellar (XLM)?

Another factor that may see XLM rally in the coming days revolves around an upcoming event organized by Stellar. The Blockchain and Fintech meet-up will be held in Dubai on May 1st, featuring speakers from Stellar, Mobius, LALA world, OTC supply, and NEC payments.

Also coming in May is the integration of XLM and by NovattiPayments, an Australian start-up. Earlier in the month Stellar posted a message indicating that it would be happening in the coming months.

Will Stellar (XLM) Reach  Sooner Than We Expected?

These initiatives are likely to see the demand for the Lumens increase. Later or in 2018, Lightning will be launched on the network. It’s these series of events that make Stellar (XLM) have a bullish outlook in the coming days.

Leave A Reply

Your email address will not be published.