In the current bearish market, many altcoins have suffered momentarily, particularly with the quick buy-ins and heavy sell-offs. Stellar (XLM) was among those who were adversely affected for some time but it has shown a remarkable resilience over the last seven days that has prompted many to wonder whether it could be on the verge of a bullish rise. XLM was actually one of the premier cryptocurrencies that was able to demonstrate its proof of concept of efficiently connecting banks and payment systems at nearly zero transaction costs. Furthermore, with Stellar being on IBM’s blockchain strategy for quicker and cheaper payments across borders, experts predict that the coin could continue enjoying fresh demand.
Speeding up the Development of Atomic Swap
In the recently concluded ask me anything session that featured Stellar (XLM) and KIN, there were plenty of interesting questions and answers regarding Stellar’s future. One notable talking point was atomic swap integration on Stellar. However, according to Tomer, one of the Stellar Engineers, the team does not yet have an automated solution that supports the platform yet. Nevertheless, Stellar (XLM) has several plans to implement a manual swap mechanism in future, which will likely need the use of a third-party escrow firm.
Stellar Lumens Will Now Be Available on Buybit and Coindirect
One of the major challenges that Stellar is facing is getting its Lumen currency listed on crypto exchanges. Other cryptocurrencies like Ethereum and Bitcoin are currently listed in more than 450 exchanges, while Stellar only has slightly over 70 listings. Nevertheless, plans are underway to ensure that XLM can grow its liquidity by listing on more crypto exchanges.
The Lumen was just added to Coindirect, a newly launched peer to peer exchange platform with over 30 other cryptocurrencies. This new trading platform is available all over the world and it features a secure system for convenient exchanging of digital assets. It is a significant move as it will enable users to sell or buy Lumen XLM coins safely and directly through using local fiat currencies.
Expanding into Asia
The Asian market has been very receptive to cryptocurrencies, and Stellar Lumen is poised to exploit this fact. Stellar can now be found in the Indian based trading exchange Buybit, which allows traders to purchase Lumens using Indian Rupees. Financial experts believe that these new listings should help in increasing the asset’s liquidity and continue its upward growth over the past few days.
Current Price of Stellar Lumen (XLM) and Future Predictions
Currently, Stellar Lumen (XLM) is being traded at a stable rate of $0.29, with the market capitalization standing slightly over 5.3 million dollars. The XLM has been consistently listed among the top ten cryptocurrencies in the market and this is clearly evident by the fact that it has gained 16% in the last 24 hours. Additionally, the XLM has also seen an improved trade volume as several funds continue investing more money into cryptocurrencies.
It is worth noting that the whole cryptocurrency sector has been facing a tough time over the past few weeks. However, even though Stellar (XLM) was also adversely affected, it has bounced back and has been performing very well over the past seven days. With its new Lightning Network integration intended to improve security and scalability, Stellar (XLM) is poised to continue rising up in the crypto markets.
As one of the best cryptocurrencies with a working proof of concept, the Stellar XLM has gained by 16% in the last 24 hours to sustain its upward growth over the last seven days. All these Stellar XLM indications point to a crypto coin that is on the path to recovery along with increased community confidence in cryptocurrencies.