As the Altcoin market sell-off continue hitting hard on major coins and tokens, Stellar (XLM) continues to hold strongly and threatening to destabilize their arc-rival, Ripple’s XRP in the coming days. XLM demand keeps rising and this could complicate Ripples ambition to dominate the market where the two seem to overlap.
The recent Chain acquisition by Stellar and the creation of a new Interstellar outfit is a clear signal of where the coin is headed and this could pose a huge challenge not only for Ripple but Ethereum as well. Interstellar comes at a time when the network has announced the onboarding of TokenSoft, a firm that is set to open ICO floodgates to the Stellar ecosystem.
Seamless Global Payment Market Demand Growing
The blockchain real world use cases have become a reality and Stellar and its native coin XLM are getting the better of it. Launching of the Blockchain World Wire by IBM on the Stellar ecosystem will grow the coin dominance in the market and will make Ripple’s xVia, xCurrent and xRapid look irrelevant.
Apart from Blockchain World Wire system of payment making transactions faster, the IBM brand is respected world over and this will increase Stellar visibility and give the investors an additional reason to stake up XLM. With many investors panicking due to the declining crypto prices and many holders exiting to the fiat economy, Stellar is adding high profile strategic partners to come on board when XLM prices are favorable. Jesse Lund, head of blockchain arm at IBM says:
“Two financial institutions transacting together agree to use a stable coin, central bank digital currency or other digital asset as the bridge asset between any two fiat currencies. The digital asset facilitates the trade and supplies important settlement instructions.”
IBM is a huge boost for Stellar in the tech and computer space and has given it additional appeal in sectors where blockchain has faced a lot of resistance. This is a hot market entry point for the cryptocurrency and its inroad will be felt across the globe and with the tech market ready for a change, it will be a huge hit for XLM that has prompted Lund to add:
“What’s happening is there’s this emergence of a new segment that could actually be one of the biggest segments that is a permissioned but public blockchain network typology.”
Blockchain World Wire Boost for Stellar Adoption
Stellar has been struggling to get full backing of institutional investors and the BWW push is a surefire system that is poised to make this happen. However, the partnership is part of a huge scheme to popularize Stellar and grow its value. Most importantly, the coin will ride on the IBM brad name to transform it a household brand.
With the recent FoMo from that has resulted from Coinbase listing of XLM, the valuation of the coin is set to grow based on increased usage. Coinbase is recognized by the US regulatory body, SEC and this has also given coin the credibility the competition lacks. The US millennial crypto craze and the low XLM price have seen increased XLM attention across the all States.
However, the bearish market is still holding XLM price at ransom with a major breakthrough the offing. The last 24-hours trading window has seen the coin trade in the red territory after shedding 1.22% and 0.59% to the dollar and Bitcoin respectively to trade at $0.199735. With the acquisition of Chain and on-boarding of Blockchain World Wire, XLM price is predicted to surpass the $1 mark in Q4 and hit the $5 threshold in Q2 2019.
With the increased activity behind the scenes on the ecosystem and investors gearing up to come onboard, the coin price is poised for a huge boost before close of Q4. With the current sell-off, upcoming ICOs are eyeing the XLM value proposition compared to Ethereum while IBM is helping banking institutions adopt Stellar giving Ripple’s XRP sleepless nights.