Stellar News

Crypto brief: stellar lumens on the rise amid news about global adoption

Just recently, news came in that a team was being put in place to improve Stellar Lumens XLM adoption globally. This saw the coin’s price increase by 5% amid news about the global adoption. Additionally, the platform has been mentioned as number 3 choice for IRA investors according to Bitcoin IRA.

SHIFT markets declared a new partnership with lightyear to integrate stellar technology into the exploding market. According to SHIFT’s CEO, Ian McAfee, this is an interesting partnership for the company as many of their clients are looking to offer trading of XLM on their exchange platform. Additionally, the partnership aims at increasing the platform’s liquidity and usage for both major and exotic fiats.

This new partnership will bring the coin to new regions, where many digital currencies have not had the opportunity to be adopted. As such, XLM will be paired with various traditional currencies, thus leading to more gains in the coin’s price. The news of this new partnership already had a minor effect on the market as the coin gained 5% in the last 24 hours.

Additionally, bitcoin IRA, an institution that provides individual retirement accounts in cryptocurrency announced that Stellar Lumens (XLM) was their third most popular digital currency. The platform has added support for XLM and Zcash (ZEC) earlier this year in July. Additionally, the company CEO, through a tweet added that he feels confident that the bull market will soon return and stay for a long time.

Moreover, the CEO stated that opening up low-cost digital coins such as Stellar Lumens for IRA accounts will drive massive global adoption due to ease of access. The cheap cost will incentivize people to buy more of the token, with the IRA profiting as well. Thus a win-win situation for both firms.

What effect do you think the new developments will have on the coin’s long-term price?

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coinmag

Having contributed to many leading financial blogs, Ken's love for cryptocurrencies and the blockchain technology has him on high alert on all price developments within the cryptocurrency sphere.

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