Cryptocurrencies are having a challenging period as their prices fluctuate wildly. The only sure trend is that most of them are still shedding value since the beginning of the year. However, Stellar’s (XLM) price looks fairly healthy and various price analyses indicate a positive change going forward, largely due to its most recent acquisition of Chain.
The analyses are down to various factors. Early last month, Forbes Magazine reported a deal where Stellar Development Foundation (SDF) purchased Chain, a blockchain startup. As per the article, the deal was all cash and resulted in the formation of Interstellar, a subsidiary of SDF.
While SDF is not-for-profit, Lightyear is a for-profit subsidiary of the company behind the Stellar blockchain platform. Therefore, Chain and Lightyear will come together to form Interstellar, which will be the sole for-profit arm of SDF.
Stellar’s (XLM) Price Responding to Strategic Acquisition of Chain Core
Forbes continues to say that Interstellar will take over Chain Core to serve the former Chain customers. The Chain Core is a software for permission blockchain whose main users are Nasdaq, Citigroup, and many others. Further, Sequence cloud storage services will also come under Interstellar. In short, Forbes notes that all brands previously under Chain and Lightyear will come under Interstellar.
Also, the bullish analysis of the Stellar’s price is as a result of the recent launch of StellarX, Reuters reports. As per the news outlet, StellarX is a universal “marketplace for trading assets on Stellar.” However, an official announcement says that the product is still in beta phase. Once ready for public rollout, the company will communicate. SDF promises that it will be ready very soon.
In view of the aforementioned developments, XLM is trading fairly well on both Coinbase and Kraken. Hacked reports that the cryptocurrency is making strong progression and that it may breakout soon. Further, Hacked reveals that there are improvements on the Stellar platform that make it more favorable.
Weekly Airdrop
One improvement of note is the charges that one incurs while transacting on the platform. There is a flat fee per each transaction, regardless of the volume and value. As per Hacked, one will pay a nominal fee of 0.00001 XLM. Interestingly, Stellar will refund the fee “out-of-pocket for every trade made on StellarX.”
Furthermore, as Interstellar integrates Chain Core, the platform will bundle all network fees and pay them out at once each week. As another incentive, the network will give out a “pro rata” airdrop once every week. Such steps aim to fully democratize the network, which is the essence of blockchain technology.
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