The Stellar Lumens blockchain project is among the most robust ones in the cryptosphere. Its team and leadership have been working very hard so that its ecosystem explodes as soon as possible. On top of that, there are signs that the project’s native cryptocurrency’s price (XLM or Lumen) could surge sometime soon.
Lisa Nestor, who serves as Head of Partnerships for the Stellar Foundation recently went on the record announcing that Stellar is working in many countries all over the planet to boost Stellar’s ecosystem, the case uses and strategic partnerships.
The most successful ventures have been in Africa and South America. This isn’t surprising. Cryptocurrencies are more useful in countries in which the traditional financial system is not very well developed.
For instance, in some regions in Africa, it’s rather unusual to own a bank account, but it’s common to have a mobile phone. Looking for growth in the world’s less developed countries is a good strategy for blockchain projects, and many others are also pursuing it. Cardano is a good example.
Is Lumen (XLM) about to rally in the cryptocurrency market?
You often read articles predicting that XLM is about to explode. While it’s done very well, we’ve seen nothing like an explosion happening. It’s never been able to perform as well as Ripple’s XRP, which is considered to be the most similar blockchain project to Stellar Lumens, and its most direct competitor. It figures because both projects were founded by the same person. In any case, XLM has not been able to compete with Ripple in terms of market performance. Yet.
As we write this, XLM trades at $0.104126, with green numbers for the past 24 hours. It’s ranked 12th by market capitalization so it has a long way to go before it can challenge XRP for the 3rd spot. The next relevant resistance level is estimated to be at $0.13. If the bulls manage to bring the coin’s price that high, there will be a pretty penny to make in the process.
There are high expectations around XLM. Some experts believe that the price will go as high as $50. Can such a drastic rise be possible?
Well, it will all depend on XLM’s use cases. If XLM manages to become really useful in Africa, South America and other places in the world, usefulness will beget demand and demand will generate market performance, just has it happened with Binance Coin.
Last but not least, let’s not forget that Stellar Lumens has IBM’s support. If the partnership with Big Blue does for Stellar what it did for Microsoft or Intel, then XLM will find a way to challenge even Bitcoin in the years to come.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.