Stellar lumens (XLM) News – Can Stellar lumens (XLM) be the dark horse investment?

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After a disastrous year of cryptocurrency performance, most of the traders and investors are only investing in the mainstream cryptocurrencies. A new entrant in the top 5 list is stellar lumens (XLM). It recently broke into the top five list. The question which remains is whether Stellar lumens (XLM) is worth investing.

Can Stellar lumens (XLM) be the dark horse investment?

If you look at the current price of Stellar lumens (XLM), it is trading around $ 0.2387. It is higher by approximately 2.85%. One of the main reasons why it is trading in the green is because it has experienced an impulse the moment the cryptocurrency markets recovered from their lows. This indicates positive strength in Stellar lumens (XLM).

At the same point in time, it can be argued that if the cryptocurrency markets turnaround viciously, Stellar lumens (XLM) can gain even more. One of the main reasons why Stellar lumens (XLM) is gaining and remains sturdy is because there is finally some fundamental news which is propelling Stellar lumens (XLM) higher.

In recent times, it has been announced that IBM will be using the network of Stellar lumens (XLM) in order to develop a blockchain-based product by the name of world wire. This will be rivaling Ripple (XRP). While this news has been out in the public domain for quite some period of time but nevertheless, it is sparking the investor interest. Ripple (XRP) has remained more or less steady due to the consistent tieups which it is forging with different banks as well as financial institutions. IBM is a pretty big player in providing back-end services to most of the banks and financial institutions all over the world. That is why, if it is using the blockchain technology of Stellar lumens (XLM), it will be huge for Stellar lumens (XLM).

Once it is able to launch such a product, more and more companies will be looking to use the blockchain of Stellar lumens (XLM). This will indeed help it gain more clients as well. This is one of the main reasons why investors and traders alike are trying to figure out if it is worth holding Stellar lumens (XLM) over a longer period of time. Currently, the market cap of Stellar lumens (XLM) is $ 4.6 billion. It is still approximately 25% that of Ripple (XRP) which offers better solutions in terms of cross-border payments to various companies.

If the volumes across the blockchain of Stellar lumens (XLM) increase due to the product which is unveiled by IBM, it can easily lead to a rally in Stellar lumens (XLM). By recovering swiftly and limiting the down low, it has definitely shown strength. That is why investors are trying to figure out whether this strength is an indication of an impending rally when the cryptocurrency market conditions finally improve. It certainly seems so but when the cryptocurrency market conditions will improve, is actually the most puzzling question right now.

About Priya 131 Articles
I am an IT engineer by qualification and like to explore the crypto and blockchain space in my free time.

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