XLM is showing signs of recovery as of late. Fueled by Coinbase addition speculation, the currency has had a rather strong break-out in mid-July which saw it recover from lows of $0.182/2933 satoshi to highs of $0.306/4170 satoshi. The rest of the month was rather bumpy, as XLM’s BTC value retracted before running upwards once again around 26th, when the coin reached its monthly USD high of $0.3483. After closing the month of July with a slight retracement August was rather bloody for XLM, as it managed to reach $0.201/3184 satoshi before stabilizing on the 8th. Ever since we saw some relatively stable USD sideways action, followed by some more variation from XLMBTC.
Currently one Stellar Lumens can be purchased for $0.225612 USD (a 4.83% rise in the last 24 hours)/3476 satoshi (2.54% rise in the last 24 hours). A decent trade volume of 10,072 BTC is mostly held up by several key markets which include Binance (40%), BCEX (12%) and Upbit (11%). With a market cap of $4,235,131,773, XLM is currently the 6th most valuable currency on the market.
The up-and-coming cross-border payments solution has been hitting the news cycle for all the right reasons. Known for their partnerships with big Fintech players like IBM, Deloitte, ICICI Bank and many more, has recently been tied to another “real world” colossus, Facebook. Mark Zuckerberg’s darling has apparently decided to create an on-platform payment network that would rival the traditional banking ecosystems. As such, they have apparently spoken to several cryptocurrency projects to get insights about the blockchain technology and the opportunities it brings to fulfill their mission. One of those projects was Stellar Lumens.
Immediately rumors started flowing around that the cooperation is a done deal and Facebook officially became a part of XLM’s stellar list of partnerships. Still, Facebook have so far chosen to distance themselves from this speculation and have categorically denied that any deal has been made. Still, it’s easy to see Facebook utilizing Stellar as the underlying layer of their distributed ledger service that will enable them record payments and other transactions.
On the 13th, Stellar announced major changes to the Stellar Lumens network. These changes were confirmed by releasing an official migration schedule for the upcoming Stellar Core 10.0.0. The migration naturally concerned validation nodes that maintain the ledger, SDK maintainers and Stellar SDK users; it didn’t have any effects on regular token holders. Protocol version 10 is currently running on a testnet and the team plans to migrate it over on the public network in late August – early September.
🏆Read a comparison of ripple vs stellar lumens.
With that, the project is in an excellent place right now. Their monthly round-up for July revealed several quality updates that will motivate many a holder to have good feelings about the future. Shariah compliancy they received, TransferToPartners cooperation, Blockdaemon support and 7th Stellar Build Challenge are just some of the key highlights that marked the month behind us. Several projects related to the Stellar’s blockchain have been announced/have released updates, including IBMBLR, Smart Stellar, LUDUM, Inbot, TillBilly, and Trezor. Ultimately, Stellar keeps making good steps towards becoming a highly functional real world crypto-based solution for global remittances and money transfers. We will see how well will the market recognize this.