Stellar News

Daily crypto brief: Stellar Lumens reaches new heights following a series of positive developments

Recently, Stellar has become the most popular topic in the crypto sphere following a series of positive developments. These, in turn, has boosted the coin’s price to new heights, and we expect more from the 6th largest digital currency.

First, Stronghold, a San Francisco-based financial institution, which has been developing an assets agnostic payment and trade ecosystem, launched an asset-backed token on the stellar network. The firm announced their partnership with IBM Blockchain to identify stronghold USD uses in blockchain business networks. Their main aim is to test ways for financial institutions and other parties to achieve more efficient, safer and faster transactions.

Second, the open-source value exchange protocol stellar received another boost after being certified for both its platform and associated cryptocurrency, Lumens (XLM). This came from the Shariyah Review Bureau-an Islamic advisory firm based in Bahrain. The California-based startup has been looking to form more partnerships with financial companies around the globe, including Saudi Arabia, the United Arab Emirates, and Bahrain. This certification was as a result of their efforts through dialogue.

Third, Coinbase unexpectedly announced plans to enlist some more digital currencies, among them, was Stellar. This announcement boosted the coin’s price by 10%, moving it to new heights. Normally, Coinbase listings have always been a good sign for cryptocurrencies, since it is one of the most popular cryptocurrency exchanges in the industry. As such, a Stellar listing on the exchange would hail in higher levels of consumer and institutional adoption, and thus, prices that match increased adoption.

After these series of positive developments, the coin’s price forecasts are quite high. For instance, Wallet Investors placed the coin’s price at $0.351 in one year and $0.974 in 5 years. As such, the return on investment would be 5 times if you invest at the current price.

Do you think Stellar will achieve the prices as predicted?

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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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