Undoubtedly, Stellar Lumens (XLM) are not just in the cryptoverse to make up the numbers. Indeed, founder Jed McCaleb and his team mean business. The height XLM has attained today is a testament to that fact. Sure, XLM launched in July 2014 with high hopes. Four years later, XLM has moved to the next frontier in the crypto sphere. Truly, going by MCAP, XLM is about to displace EOS and become the fifth most capitalized cryptocurrency. Continue reading to see why.
Stellar Lumens (XLM) Is Positioned To Move To The Next Level
On July 19th, the founder of Litecoin (LTC), Charlie Lee, took to his social media account to congratulate XLM. Guess what, XLM has not only surpassed Lee’s LTC, but it is also is edging out EOS. A decentralized OS, EOS was leapfrogged and now in the number 6 position in market capitalization. Now let’s briefly look at factors that are propelling XLM.
Possibility Of Getting Listed On Coinbase
Well, on July 13, Coinbase, the world’s largest crypto exchange, released a list of cryptocurrencies that may earn its listing soon. The list includes Stellar (XLM), Cardano (ADA), ZCash (ZEC), Ox (ZRX) and Basic Attention Token (BAT). For promising to catalog Ethereum Classic (ETC) and keeping to their word, the second list is a done deal! When this happens, it’s a plus for XLM.
IBM Effect
Also, computer giant IBM and Stellar Foundation have a partnership that will see the two parties work together for their benefit. Their relationship has existed for a while now. According to the business tie, IBM is looking to develop a stable coin using the XLM blockchain. What’s more? The computer maker uses nine XLM nodes for cross-border payment settlements. Unarguably, this works for XLM.
Facebook Rumors
Furthermore, partnership with social media giant Facebook is the big one. On August 10th, a story wafted through the media that XLM and Facebook had finalized a business partnership. According to the speculations, the two companies signed a business partnership to develop a blockchain-based network for Facebook. Although Facebook has since debunked the allegation, the rumor made some positive impact on XLM while it lasted.
Conclusion And Positioning Over EOS
From the look of things, Stellar and its coin have everything working for them. At the rate things are moving, they could hold on to 5th place ahead of EOS. As we continue to observe the events playing out in the market, we say a big congrats to McCaleb!
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