Stellar (XLM) has stunned so many of the crypto enthusiasts over the past few weeks, as it is currently getting a lot of investors enthusiastic about where it might go. Now, Stellar (XLM) is moving into the XRP (XRP) territory.
Stellar’s exhilarating opportunities are unlimited
The majority of the thrill in the cryptocurrencies market has been going to “high-speed hares” with Tron and EOS, while XLM (Lumens) has actually dragged like a tortoise.
Noticing the resounding achievements of Ripple Labs and its XRP (XRP) crypto token, it appeared to have been killing any possibility of Stellar (XLM) getting back in the game. But with the cryptocurrencies market sentiment against XRP, it may be a pivotal moment for XLM to become successful, finally.
During this month, in July, Stellar (XLM) has had a significant effect on both crypto enthusiasts and cryptocurrency investors.
At the moment of this writing, XLM is on the fifth place in the cryptocurrencies market and outperforms Litecoin (LTC) with about $1 billion by market cap, while it lags behind EOS (EOS) with about $1,6 billion, also regarding market capitalization.
More and more green lights for Stellar (XLM)
While Stellar’s rival and Ripple’s cryptocurrency standard, XRP (XRP), still stands on “regulatory quicksands,” the Stellar protocol has been awarded multiple successive green lights.
ItBit, the leading OTC market company, was given a BitLicense from New York State, and Stellar (XLM) was among the first cryptos to be approved. But that doesn’t mean the road is open for Stellar (XLM) now. Nonetheless, the granting of one of the most requested regulatory permissions will undoubtedly boost crypto investors’ faith in XLM.
The Stellar protocol is designed to ease transactions in any currency, be it fiat money, such as US Dollars and Euros, or cryptos such as Bitcoin (BTC), despite being generally associated with XLM. The protocol has added several new cryptos and ICOs.
Ian Kennedy is the newest contributor to Crypto Daily Gazette. He enjoys running, practicing minimalism and cooking. Ian is a graduate of Wesleyan University in Connecticut where he studied journalism, Arabic and international affairs. Ian mostly covers stories concerning emerging blockchain technology.