THELOGICALINDIAN - n-a
If you asked addition to adumbrate this years’ winners aftermost January, Stellar would apparently not accept topped the list. Most of the action went to accelerated hares like EOS and Tron, while Lumens accept been trudging forth like a tortoise.
And you would be forgiven for cerebration that the continuing success of Ripple Labs and the XRP badge would accept abandoned any adventitious of Stellar communicable up. But bazaar affect is axis adjoin XRP, and that could be a defining agency in the success of Lumens (XLM).
This month, Stellar has been killing it. At the time of writing, the Lumens badge has pushed accomplished Litecoin into sixth abode by bazaar capitalization, and it’s about six cents abroad from the top five. At the time of writing, the amount has jumped thirteen percent in a distinct day, outperforming the blow of the bazaar by several multiples. If Stellar were a approved aggregation in the banal market, bygone would accept been an awfully acceptable year.
The bazaar moves in abstruse ways, but it doesn’t aching to accept a ages of ceaseless acceptable account while a absolute adversary continues to altercation the bears. Here are the account that could advance Stellar from an also-ran into a accessible winner:
Government Approval
While XRP, the bill created by Ripple (and Stellar’s closest competitor) is still in authoritative quicksand, the Stellar agreement has accustomed several blooming lights in a row.
ItBit, a arch OTC market, recently accustomed its BitLicense from New York State, and Stellar Lumens was one of the four accustomed currencies. That doesn’t necessarily bright the alley for Stellar, but actuality accepted one of the best often-sought (and rarely granted) authoritative permissions is acceptable to assure investors.
New York’s wasn’t the alone government anatomy giving a thumbs-up. In aftermost Month’s Global Blockchain Assessment Index, the Chinese government ranked Stellar as the fourth-best blockchain, with aerial marks in technology and innovation.
And if permission from alluvial admiral weren’t abundant already, Stellar seems to accept abnormal approval as well. Bahrain’s Shariyah Review Board certified the blockchain and its built-in Lumens badge as actuality adjustable with Islamic law, a accommodation which could accessible doors to markets previously under-reached by cryptocurrency.
New Tokens and ICOs
Although commonly associated with Lumens, the Stellar agreement is meant to facilitate affairs in any currency—from dollars and Yen to bitcoins and seashells. The agreement has added several new tokens and ICOs, some of which we’ve covered before.
The latest amateur is Stronghold USD, the aboriginal stablecoin on the Stellar blockchain. While stablecoins are annihilation new, the accession of a verifiably dollar-backed badge accurate by IBM is a above assurance of credibility.
TransferTo Puts Stellar in Ripple’s Game
But the latest account could put Stellar on par with Ripple in agreement the all-embracing remittance game. In an partnership announced beforehand today, TransferTo, a B2B cross-border payments network, appear that it was adopting Stellar technology for all-embracing agenda payments. The accord will accompany Stellar-based all-embracing remittances to casual workers in over seventy countries.
“We consistently aim to be at the beginning of the payments industry,” said Aik-Boon Tan, Chief Customer Officer at TransferTo. “By partnering with Stellar our ambition is to balloon the blockchain technology and calibration our cross-border acquittal account to better serve our partners and abate costs.”
None of which is abundant to advance that Stellar or Lumens are acceptable winners. Crypto markets can be “volatile”, and sometimes they move on bald rumors–as they do whenever Coinbase hints at added listings. But if Stellar can accumulate running, while the added cryptos are still accepting to their feet, again Lumens’ approaching could be actual ablaze indeed.
The columnist has investments in Stellar and Ripple, which are mentioned here.
