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A series of positive news about Stellar
In recent days, Stellar has become a popular topic in the cryptocurrency community, as a series of announcements and news indicate that the Stellar blockchain is gaining ground [19659003] Coinbase Exploring Stellar's List [XLM]
Last week, Coinbase unexpectedly announced that his team is studying the possibility of adding five altcoins, which are Stellar, Cardano [19659009] ZCash basic attention token and 0X.
Although not guaranteeing the addition of these cryptocurrencies due to potential regulatory and technical restrictions, the five cryptocurrencies selected by Coinbase still outperformed most of the market, with Stellar moving by ~ 10% on day of the announcement.
Coinbase quotations have historically been a positive sign for cryptocurrencies, since the exchange or is one of the most publicized cryptocurrency related companies in the world. As a result, market watchers often fall on Coinbase so that a list of XLM would attract higher levels of adoption by consumers and institutions, and hence of corresponding price Higher adoption.
The US stock market did not give a specific timeline on the additions of the aforementioned cryptocurrencies, but it was clear that constant updates would be given to their customers via social networking platforms Medium and Twitter. ] IBM uses Stellar-based Stablecoin in cross-border payment system
As reported by CryptoReport IBM has announced that it will use a new cryptocurrency for its cross-border payment system , instead of XLM. The stablecoin, rightly called Stronghold USD, was released in Stellar's blockchain on Tuesday after some time of development.
The current use of XLM by IBM in its cross-border payment system has proved rather expensive, as the payments require that fiat be converted to XLM and then converted back into another fiduciary currency, which often leads to high fees / volatility.
But with the integration of Stronghold USD token based on Stellar, the payment system should begin to offer lower rates, while increasing the efficiency of payments.
Once the IBM payment system is ready for commercial and retail use, many expect the adoption of Stellar chain of blocks increase rapidly, resulting in higher prices.
According to the company behind the stablecoin project, recently issued Stronghold tokens can also be Stellar receives Sharia compliance status
Stellar has become the first cryptocurrency / decentralized technology to achieve Sharia compliance as did the companies. reported CryptoReport recently.
According to a statement by of the Stellar Foundation, the Shariyah Review Board (SRB), a leading Sharia consultancy, awarded Stellar a certification for payments and tokenization of assets.
So, what does this mean for the stellar ecosystem?
A collaboration between the Stellar Foundation and the SRB will help Stellar adopt in areas where financial institutions demand compliance with Islamic finance principles. "Therefore, specific regions in countries such as Kuwait, Qatar, Saudi Arabia, the United Arab Emirates and Indonesia can use Stellar, opening the use of XLM and products Related to millions of new consumers
Stellar surpasses Litecoin market capitalization
Despite Bitcoin's progress on Tuesday, there was an increase in XLM on Wednesday, hitting a high of 30% on the day. now around 29 cents and continues to outperform market leaders such as Bitcoin.It is likely that the three news items mentioned above have played a significant role in raising XLM prices over the past three or five days. 19659030] With this "stellar" day, the market capitalization of XLM has exceeded that of Litecoin, and now it is the sixth cryptocurrency with a market capitalization of 5.4 billion. dollars
Price Courtesy of CoinMarketCap and TradingView
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