Following Bitcoin’s possibly game changing increase throughout the end of the previous week and the beginning of the present one, altcoins are keeping up the show with their respective recovery on a daily basis. Per time of writing the pair XLM/USD is changing hands at $0.1087 with 7.00% increase in the last 24-hours leading the BTC market for 9.50%.
Witnessing the double digit gains for two days in the crypto-price market it was no surprise that a slight pull-back will be occurring anytime as the Tuesday value peak presents a great opportunity to gather profit for those that jumped-in a week before. The previous resisting trend is acting now as a supportive ground for the pair to continue performing, and as long as it holds (declining below $0.1085 could be alarming) a speedy return to the bullish sentiment will remain.
Latest News regarding Stellar XLM
Stablecoins continue to fall on the radar of investors showing that there are more and more use cases for this type of tokens. For the launch of 26 new stabletokens Wirex chose the Stellar blockchain. According to Forbes, Jed McCaleb, founder of Stellar expressed his enthusiasm for the partnership, explaining that this joint effort could be good for the parties involved.
“Stablecoins have the potential to transform the payments space … We’re excited to be working with Wirex to launch its first stablecoins to help make money more fluid and open to everyone.”
For his part, Pavel Matveev, Wirex’s co-founder explained that the firm has the vision of expanding the supply of stablecoins available in the crypto-verse stressing that offering tokens backed by other currencies besides the dollar can stimulate not only the industry but the entire ecosystem.
According to regular polls of the investors in cryptocurrency and the mainstream market, lack of education and understanding for blockchain, crypto and digital assets is a regular feature among the public. Coinbase, for what it’s worth, has done its part as an exchange to promote decentralization. While the exchange has taken flak in the past for suspicious market behavior, the Coinbase has carved a place for itself as a portal of cryptocurrency education. The most recent addition of the XLM coin now partners the U.S.-based exchange with the Stellar Foundation, a nonprofit organization who has a proven track record of pushing the net positive of digital assets. Together with the flooding of 1 billion giveaway it shows how the industry’s growth ahead of coin prices as the firms are looking long-term and for the best of the crypto-verse.