Stellar (XLM) is having a great run. By facilitating the quick and efficient transfer of value from one party to the next, the cryptocurrency is making financial transactions easier for banks, institutions and individuals too. Based on Blockchain technology, the altcoin is quickly gaining traction and fame among investors, traders and enthusiasts. Trading under the name Lumens (XLM), Stellar currently has a value of $0.428016 . The altcoin maintained a steady price right through the recent cryptocurrencies crash. There are various reasons for this. Discover some of them below.
Great performances give great rewards at the end of the day
Over the last few weeks, Stellar has proven that it is indeed a cryptocurrency which is worth your investment. The altcoin has seen a double-digit increase in value since the beginning of the year. This puts it way ahead of other major cryptocurrencies which barely inched forward. Trading as Stellar Lumens (XLM), this cryptocurrency has shown the world how Blockchain technology can be used in value transfer.
Since it allows for multi-currency payments, the altcoin is popular across borders. Traders and speculators look upon this cryptocurrency favourably. Therefore, Stellar is expected to rise in 2018. A number of factors have compounded overtime to give the cryptocurrency its current, high value. Top of the list is this lucrative listing.
Stellar listed in OKEx trading platform
Stellar cryptocurrency was recently listed in the OKEx exchange in Hong Kong. The exchange is currently the fifth largest in terms of trading volume. OKEx indicated that they would be listing Stellar on December 28th, 2017. This led to a wave of interest from investors and traders. It also started a rise in performance for the altcoin whose effects are being felt today.
24 hours after getting listed in OKEx, a total of $1.4 million was transferred in trades involving Stellar (XLM) and other major cryptocurrencies. The amount shot up after traders returned from the holidays and got in on the action. It also led to interest from mainstream companies which sought to ride the Stellar wave.
Stellar partners with Pundi X payment processing firm
Pundi X is a Point-of-Sale (POS) solution for cryptocurrencies. Based in Jakarta, Indonesia, it caters to retail stores and individual consumers. Late in 2017, the firm announced that it had made a strategic partnership with Stellar.
In the deal, Pundi X would utilize the Blockchain network provided by Stellar to make it easier and faster for its clients to transfer the Indonesian Rupiah from one party to the other. The funds would be transferred across borders easily and at much lower costs. Furthermore, the Stellar Lumens (XLM) would be added into their POS system for commerce using the token.
After the deal, Pundi X became the credit issuer handling any deposits transformed from XLM to the Indonesian Rupiah and vice versa. This gave the cryptocurrency some beneficial exposure in South East Asia. As a result of the news, interested parties in the region stocked up on Stellar Lumens and propped up the price leading to its current, high value. Another company which showed exceptional interest in the cryptocurrency was IBM. It was the shot in the arm that Stellar needed.
IBM accomplishes cross-border payments using Stellar’s Blockchain platform
After partnering with Stellar altcoin, IBM successfully performed cross-border value transfers featuring unique currencies of South Pacific countries. The giant computer company developed a unique platform in conjunction with Stellar that uses the Lumens (XLM) and transferred value in two major currencies. They are the British Pound and Fijian Dollars.
The platform is in its early stages. However, it will be scaled up to include a total of seven currencies including the Australian Dollar, Tonga Pa’anga and the New Zealand Dollar. The Stellar Lumens acts as a bridge between these currencies. Individuals making the transactions get to enjoy instant value transfer at rock-bottom costs. Thanks to these qualities, the partnership between IBM and Stellar in this initiative will be beneficial to consumers as well as the firms involved.
Soon after the breakthrough news was announced, Stellar leapt in value. Seeing as IBM is still working on the project with this altcoin, there are long-term benefits for its price. This is great news for investors who hold some Stellar Lumens in their e-Wallets.
Wisdom at the very end
Analysts, investors, critics and traders agree that Stellar is one of the best performing cryptocurrencies today. Not only has it sustained value, the partnerships that it made a couple of months ago are still reaping benefits for the altcoin. Some of these have been described above and you can be sure that many more are bound to come. Therefore, if you have some Stellar Lumens, don’t sell just yet. If you don’t, get online and buy some!