Stellar (XLM) is a unique cryptocurrency as it has no ‘real competition’. Some might consider Ripple (XRP) to be its rival, but that is simply not true. Ripple is a cross border payments platform that empowers financial institutions whereas Stellar (XLM) is a peer to peer payments platform, cutting the middle man and allowing users to exchange value without third party involvement. In addition to that, Stellar (XLM) is also a smart contracts platform for ICOs. Recently conducted Mobius ICO on Stellar (XLM) was the first of its kind and turned out to be a big success.
While Ethereum (ETH), EOS (EOS) and Cardano (ADA) are fighting to become the best smart contracts platform, Stellar (XLM) faces no competition at what it is already doing. This blockchain project has taken the game two steps ahead by being more than just a smart contracts platform. It means Stellar (XLM) has more latitude to prove itself in its predefined space as well as to formally venture into areas like smart contracts in the future with the help of IBM.
Stellar (XLM) is also expected to broker a deal with some central banks to encourage them to use the Stellar Blockchain if and when they start issuing their own cryptocurrencies. The likelihood of such institutions using the Stellar Blockchain is high considering Stellar (XLM) has one of the best performing blockchain in terms of scalability and speed. It is also fully backed by IBM, which is already a fintech equipment and software provider to most of these central banks and other financial institutions. Stellar (XLM) has already seen wide spread adoption among cryptocurrency enthusiasts. The game changer now would be adoption via financial institutions and large corporations. Stellar (XLM) also aims to work with Melina Gates Foundation to eliminate poverty around the world. Stellar (XLM) also offers an in house crypto exchange for investors who want a more trusted source to buy their Stellar Lumens (XLM) tokens.
Stellar (XLM) has shown incredible strength against the US Dollar by repeatedly breaking out of two falling wedges to maintain steady upward movement. The price currently trades at $0.29 and is struggling to get past the $0.30 psychological barrier. Stellar (XLM) is currently down from its all time high of $1, a price reached in early January this year. Stellar (XLM) has continued to trade well against Bitcoin (BTC). Since the beginning of 2018, the price has been trading in a triangle against Bitcoin (BTC) and has yet to break out above or below it. The price has repeatedly found support at the bottom of the triangle, which also serves as a long term support line for the cryptocurrency. Currently, the price is expected to test the top of the triangle again but will most likely now break out yet. The price will reach a conclusive phase before August, 2018 by which time it might break out of the triangle to continue trading above the previously marked high of 6,788 satoshis.
Read more at: Crypto Daily
