Delivering a blockchain solution for transfers, Stellar Lumens offers the opportunity of making cross-border transactions at very low cost but very speedy. That is their ideal goal, to make everything easier for the user. Thousands of transactions are dealt within a second, while in average one takes 3 sec to be cleared.
One of the best runners, when it comes to tech-expansion and testing, is without doubt Ripple as it is taking center stage on a daily basis with news and announcements. On a very similar path, Stellar Lumens is, keeping in mind it forked from Ripple in 2014, running the same path.
Both currencies are all about international payments, meaning that they deliver solutions on how to do transactions and transfers faster and cheaper but not lets say being a retail currency to make everyday purchases.
With all the digital currency assets taking a critical hit for the past few days after not being able to overcome major levels [example BTC $10,000], the sellers are having their saying. However, out of the leading coins by market capitalization, only Stellar Lumens has made it to the green gaining zone with 4.29% increase in the last 24-hours [as seen on the chart daily chart above] reaching the level of $0.3327 again. The $0.3000 support has been saving the day many times for the pair XLM/USD.
OKEx exchange in Hong Kong has just recently listed Stellar under trading pairs. The exchanging platform is under the largest [5th] by volume. OKEx indicated that they would be listing Stellar on December 28th, 2017.
Following up the partnership signing between Stellar and IBM, the tech giant was able to showcase cross-border transfers featuring unique currencies of South Pacific countries by developing a platform supported by Stellar and the use of XLM.
Stellar hodlers hope the weekend will herald new positivity after a torrid run in the last 7 days was compounded by Kik’s decision to abandon its initial plans to use Stellar’s platform for its Kin token.
The fork in Stellar has been one of the main factors causing the decline. Netanel Lev, the Vice President of Research and Development at the Kin Ecosystem Foundation, said that Kin needs to be scaled as Stellar suffers business scale issues.
“Most crypto projects to date have been technology-driven first and product-driven second. Kin has always been the opposite. After working heads down alongside the best minds in the industry we came to the conclusion that a hybrid solution of Ethereum and our own fork of Stellar would benefit the Kin Ecosystem both short and long-term.”
Molly Jane is a Russian Literature major from California with a background in writing. She joins CurrencyTimes after working as a freelance journalist and blogger.