Stellar Lumens [XLM/USD] Technical Analysis: Bulls have the eyes of tiger in them

Stellar Lumens has resurfaced by 4.73% in a 24-hour time frame after the crash, while the other cryptocurrencies including Bitcoin [BTC], Ethereum [ETH], and XRP are struggling. XLM is currently trading at $0.2427 with a market cap of $4.59 billion. The trading volume has reached $110.79 million a majority [~36%] of which is contributed by Binance.
1 Hour

The uptrend for Stellar ranges from $0.2173 to $0.2454, while the downtrend spans from $0.2856 to $0.2510. The price has broken two supports at $0.2531 and $0.2301 and has set up a support at $0.2173. New resistance points set up at $0.2413 have been broken by the price on November 15, 23:00 UTC. Resistances are also set up at $0.2597, $0.2747 and $0.2858.
The Parabolic SAR shows a bullish trend occurring as the markers are below the price candles.
The MACD indicator is showing a bullish trend in play as well, with the MACD line crossing over the signal line. The histogram is covered with green bars indicating a bullish presence in the market.
The Awesome Oscillator spikes are forming above the zero line, which indicates that the short-term trend momentum is higher than the long-term long momentum indicating a bullish buying opportunity.
1 Day

The one-day chart shows a small uptrend ranging from $0.2227 to $0.2413, while the downtrend is spread from $0.4305 to $0.2775. The support points at $0.2227 and $0.17668 are holding strong and so are the resistance points at $0.2813, $0.3336 and $0.3693.
The Bollinger Bands are undergoing an expansion indicating that the volatility is being injected into the market. The prices, however, have dropped after touching the upper limit and are currently bouncing on the simple moving average.
The Aroon Indicator is giving out mixed signals as the Aroon up and the Aroon downlines have both hit the 100 line and are moving down in unison and in a parallel fashion.
Stochastic Indicator has undergone a bearish crossover after hitting the overbought ceilings.
Conclusion
The one-hour chart has indicators showing a strong bullish opportunity indicated by SAR, MACD and the Awesome Oscillator. In the larger time frame i.e., the one-day chart shows mixed emotions as indicated by the Bollinger Bands and Aroon indicators. The Stochastic, however, is showing clear bearish signs.
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Source: AMB Crypto

Bitcoin [BTC] has served its place in the market says Stellar’s first Head of Growth

Recently, Tammy Camp, the co-founder of Stronghold and the first Head of Growth at Stellar gave her opinion on cryptocurrencies and compared Bitcoin [BTC] to Friendster, a social media website; Ethereum [ETH] to MySpace and Stellar to Facebook.
Tammy Camp, in the interview with Breaker, she compared Bitcoin to Friendster because it was the first of its kind in the space as it got everybody’s attention. She further added that the transaction time for Bitcoin is very slow as compared to Ethereum or Stellar. She continued:
“Bitcoin does not crash and it is very stable, but the downside is you can only do three transactions per second and then it takes up to an hour for it to confirm. Bitcoin has served its place in the market. And it’s not that it’s a bad solution; it’s just not scalable for payments.”
She continued to talk about her analogy and then compared Ethereum to MySpace as Ethereum is very popular among developers and is faster than Bitcoin in terms of transactions. Since Ethereum paved ways for smart-contracts, there have been many more blockchains built on top of Ethereum’s using these contracts.
To conclude her analogy she compared Stellar to Facebook and weighed in by stating:
“Stellar is actually more scalable and secure than any product. And you can do 3,000 transactions per second, and 300,000 transactions with fees costing less than one penny. And the confirmation times are three to five seconds, so you can actually use it at Point of Sale [PoS].”
Tammy Camp, got into cryptocurrencies while graduating from Singularity University, and started building mining rigs for a short duration of time. She later went on to become the first Head of Growth at Stellar.org.
She also co-founded the Stronghold, a digital asset exchange network/platform that represents Bitcoin, Ethereum and Stellar Lumens on the Stellar Network. A stablecoin called Stronghold USD was developed in partnership with IBM blockchain.
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Source: AMB Crypto

Riding on Coinbase Listing Update, Stellar Gains Fifth Spot Leaving Behind EOS

Stellar Lumens or XLM has become the fifth largest cryptocurrency by winning over EOS. It stands with market cap $5,093,506,793 as against $4,915,473,123 of EOS.
Factors leading to Stellar’s win over EOS

Coinbase has recently announced the listing of several new assets to its exchange which also includes Stellar. It announces the listing of Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and Ox (ZRX).
Earlier this week, Stellar Development Foundation heads up for the biggest airdrop in crypto history. Interestingly, the total of $125 million worth of Stellar Lumens (XLM) will be released as a give away to its blockchain wallet users. This has definitely risen up the XLM market to interesting highs as more people are showing interest, seeing quite a big fund for giving away.
Yet another reason that marks Stellar on top than EOS is “Fake EOS wallet on Google Play”. EOS RIO, EOS developers has been seen warning its users to save from the use of fake version of its App on Google Play, which has negatively affected the volume of EOS cryptocurrency.

Since the market is volatile in nature, one cannot definitely state the literal stand of any cryptocurrency. It is however interesting to see whether the price of Stellar is influenced by $125 million airdrops or Coinbase listing announcement or spotlight of Fake EOS wallet on Google Play.
Will stellar sustain its position against EOS. Let us know in comments below.
The post Riding on Coinbase Listing Update, Stellar Gains Fifth Spot Leaving Behind EOS appeared first on Coingape.
Source: CoinGape

XLM climbs up on Binance’s list to become the fourth most-traded cryptocurrency

Stellar Lumens has overtaken Ripple’s XRP to become the fourth most-traded asset on Binance. XLM has been consistently on the news last week with a barrage of announcements as it overtook EOS and became the fifth-largest cryptocurrency [by volume].
Source: Trading View
XLM is now the fourth most-traded asset on Binance, just after Bitcoin [BTC], Bitcoin Cash [BCH] and Ethereum [ETH]. However, XLM’s current trading volume on Binance exchange for XLM/BTC pair is $27.21 million, while XRP’s trade volume for XRP/BTC pair is $19.65 million. Moreover, the XLM/USDT trading volume is $12.76 million while that of XRP/USDT is $13.79 million. Cumulatively, the XLM trading volume comes up to $40.33 million while that of XRP is $33.06 million.
Bitcoin Cash [BCH] is currently the number one against the BTC trading pair, with trading volume of $62.29 million, and has a trading volume of $38.99 million with USDT pair. Bitcoin paired with USDT has a trading volume of $62.14 million and contributes a total of 11.40% of the total trades on Binance, while BCH contributes a total of $101.14 million in trading volume which is 18.59% of the total trades.
Ethereum [ETH] has a total of $48.22 million in trade while, which is 8.85% of the total trading volume. The Ethereum ETH/BTC pair contributes $20.054 while that of ETH/USDT contributes $28.16 million.
Stellar Lumens recently overtook EOS, which was at the fifth spot for the longest time. The trade volume of XLM, in a seven-day time frame, increased by an astronomical 125% to reach $121.88 million from a mere $54.07 million, while EOS’ market cap reduced to $4.89 billion.
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Source: AMB Crypto

Stellar Lumens [XLM/USD] Technical Analysis: Bull has completed its rally in the market?

Stellar Lumens, the sixth-largest cryptocurrency, has been setting the market ablaze with its latest announcements. The coin also broke through the bear’s grip earlier this week along with all the major altcoins such as XRP, Ethereum [ETH], and Bitcoin Cash. However, it seems like the bear has caught hold of the market again as all coins started to bleed red.
According to CoinMarketCap, at press time, the coin was trading at $0.252 with a market cap of over $4 billion. The coin has a trading volume of more than $73 million and had dipped by over 2% in the past 24 hours.
1-hour:
Stellar Lumens one-hour chart | Source: Trading View
In the one-hour chart, XLM had a strong resistance level at $0.265 and an immediate resistance was spotted at $0.260. The cryptocurrency had an immediate support at $0.252. If this were to be breached, then the next help support would be at $0.251 i.e., strong support.
The Parabolic SAR indicator predicted that the bear’s grip is stronger than imagined, as the dots were aligned above the candlesticks.
Chaikin Money Flow showed that the money was flowing into the market, showing its support for the bull.
The Bollinger bands were also showing that the market was volatile as the bands were expanding, making room for price movements.
1-day:
Stellar Lumens one-day Chart | Source: Trading View
The one-day chart showed the coin’s strong resistance at $0.45, which was placed at the end of April 2018. There was also an immediate resistance at $0.26, with an immediate support at $0.22. The coin also had a strong support at $0.17, if the bear decided to take over the whole market.
The RSI indicator showed its support to the bear as the coin was just recovering from the overbought zone.
However, MACD depicted that the bull had a chance of turning the game, as the MACD line was above the signal line.
Klinger Oscillator was leaping in for dive after a bullish race, as the reading line showed that it could breach below the signal line.
Conclusion
The coin could be held by the bear for a longer duration as the Parabolic SAR from the one-hour chart, RSI and the Klinger Oscillator swore its allegiance to the winter soldier. Nonetheless, MACD and CMF continued to stay by the bull, showing that the game could turn over soon.
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Source: AMB Crypto

Stellar’s XLM ascends despite strong pull by a low volatility market

The price of Stellar Lumens [XLM] started at $0.2416 and a market cap of $4.57 billion on November 6, after which the price journeyed a very stale sideways market until 20:44 UTC. Post this, the prices saw a steep increase in the market cap, which increased to $4.64 billion.
After the spike, the prices remained more or less the same but increased gradually over the day. A prominent spike happened on November 6, 14:24 UTC, when the price reached $0.2559 and the market cap reached $4.84, i.e., a $200 million hike from the last spike. The prices slumped after the spike, and have now reached $0.2527, and market cap has come down to $4.78 billion.
Source: Trading View
Source: Trading View
The seven-day chart shows a gradual increase in price, with considerably less volatility in the market as compared to the one-day chart. The prices at the start of the chart were hovering at $0.2241, while the market cap stayed at $4.23 billion. The only outstanding spike happened at $0.2405, when the market cap was at $4.54 billion.
The spike was followed by a period of low volatility, but that didn’t stop the prices from increasing steadily. The price reached $0.2525 and the market cap climbed to $4.78 billion. This shows that the market price of the XLM increased despite low volatility.
Binance contributed a total of 22% [approx] of the trade volume, which was followed by GDAC, which contributed 16.83%.
Apart from the numbers, Stellar, as a company, has accomplished a lot in the last few months, which includes partnerships with payments platform, Stripe, and the partnership of Stellar with IBM, which led to the development of payments platform called World Wire.
In a recent blog post, Stellar opened up about their decentralized vision for financial inclusion, where they plan to make it easy for local fintech entrepreneurs to utilize Stellar as their back-end infrastructure solution. Stellar has a similar payment infrastructure to Ripple’s xRapid, but Stellar plans to make it accessible to smaller projects with virtually no transaction fees.
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Source: AMB Crypto

Steller Lumens [XLM]’s price sees sporadic yet a steady rise since launch of Starlight

Stellar Lumens has been sporadic since the last few days and has surged by 2.32%  in the 24-hour range. This might partly be due to the launch of their payments channel, Starlight. A rather far-fetched speculation about the rise in price could be due to Bithumb’s partnership with SeriesOne to launch an exchange for regulated security tokens.
The price on November 2 was at $0.2242 with a $4.2 billion market cap, it surged briefly to $0.2293, while market cap surged by $100 million at 20:24 UTC. There was a sharp spike which pushed the price to $0.2362 and market cap by another $100 million on November 3. The 24-hour volume, however, increased by 10 million during this spike.
Stellar recently made the news when it launched a bidirectional payments channel called Starlight, which inculcates a multi-hop mechanism to make transactions happen instantly.
Source: Trading View
Binance contributed approximately 20% of the total trade volume paired against BTC and USD. Next to Binance, were GDAC and BCEX, that contributed approximately 19% each. The price continued to rally in the $0.23 range for quite a while, with the market cap in a $4.4 billion range.
The price reached a maximum of $0.2372 and has stayed under ever since, while market cap topped at $4.48 billion The current price of XLM at the time of writing at $0.23606 and a total of 18.9 billion coins in circulation. The market cap at the same time was at $4.4 billion and total trade volume was at $56 million.
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Source: AMB Crypto

Stellar Lumens [XLM/USD] Technical Analysis: Bear seems to be losing its grip while bulls start to take over

Stellar Lumens is performing good when compared to other cryptocurrencies, with a steady rise followed by a correction. The speculation about the rise in prices could very well be due to the launch of Starlight payment and the partnership deal with Bithumb and SeriesOne to launch an exchange for regulated security tokens.
The price of XLM at the time of writing is at $0.2368, with the market cap of $4.8 billion.
1-hour
Source: Trading View
Bollinger Bands is showing a high volatility in the one-hour graph and the price candles are above the moving average indicating a bullish trend.
The Chaikin Money Flow indicates an inflow of the money is the same as the money flowing out of the market.
The RSI indicator has seen an overbought market but is still bullish as the RSI line is closer to the top end.
1-day
Source: Trading View
A downtrend is clearly visible and is ranging from $0.4582 to $0.2522, while an uptrend is absent since July. There is a long-term support set up at $0.1769, with resistance set up at $0.2597 and $0.3336.
The Parabolic SAR markers below the price candles indicating a bullish trend.
The MACD indicator has seen a bearish crossover on October 25 and has continued ever since.
The Stochastic indicator is opposing the MACD indicator showing a bullish crossover.
Conclusion
The Bollinger bands in the one-hour chart are showing a massive amount of volatility in the market indicating that there is a lot of trading action happening in the market. CMF and RSI are a both returning from a bullish point to a more neutral position. The price action on the one-day charts as indicated by the indicators show a bullish trend except for the MACD indicator.
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Source: AMB Crypto

Stellar Lumens [XLM/USD] Technical Analysis: Altcoin trying hard to recover after grizzly rampage

Stellar Lumens [XLM] is steadily climbing after yesterday’s flash crash, indicating that the market might be stabilizing.
1-hour

Stellar Lumens [XLM] 1-hour chartThe downtrend can be in the range of $0.24725 to $0.2273 with a break in between ranging between October 28 and 29.
The Bollinger Bands shows the candles above the exponential moving average indicating a bullish move. The bands are closer to each other indicating low volatility in the market.
The MACD line has crossed over the signal line clearly indicating a bullish move.
The RSI is at the center indicating the selling and the buying pressure is canceling each other out.
1-day
Stellar Lumens 1-hour chart
The downtrend can be seen in a range of $0.3693 to $0.2522 since May. A small uptrend in the range of $0.2108 to $0.2219 can be seen as well.
The short-term support can be seen at $0.2056, with a successive support seen at $0.1769, while resistance can be seen at $0.2390 and at $0.3335.
Parabolic SAR indicates a bullish move as the markers are formed well below the candles.
The Awesome Oscillator shows a few red spikes just starting to emerge, indicating money going out of the markets.
The Stochastic Indicator has seen a cross-over to the bottom indicating a bearish move.
Conclusion:
The Bollinger bands and the MACD indicators show a bullish presence in the one-hour charts, while the RSI indicator is neutral. The Parabolic SAR indicates a bullish move, but the AO indicator shows that money is going out of the market while Stochastic indicates a bearish move.
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Source: AMB Crypto

Stellar Lumens [XLM/USD] Technical Analysis: Bear’s dominance still strong in the big picture

The cryptocurrency market’s largely bearish sentiment has been the same since the start of 2018, and Stellar Lumens [XLM] is also being weighed down by the bear’s pressure. The recent launch of Starlight payments did not help increase the volatility of the market in a bear-dominant crypto space.
1-hour
Stellar Lumens [XLM/USD] Technical Analysis | Source: Trading ViewThe one-day chart shows a downtrend starting from $0.2520 to $0.2336, with a break in between at $0.2364.
The Bollinger bands show the candles above the exponential moving average, indicating a bullish move and a less-volatile market.
The Fisher Transform chart shows the Fisher indicator crossing over the signal line to the top, indicating a bullish trend.
The Chaikin Money Flow line is above the zero line, indicating that money is flowing into the market. Though this is a bullish sign,  the line is eerily close to the zero line and may tip over soon.
1-day
Stellar Lumens [XLM/USD] Technical Analysis | Source: Trading ViewThe downtrend is prominent since June, with the price ranging from $0.4582 to $0.2522, with a long-term support at $0.1749, with resistances set up at $0.2812 and $0.3336.
The Parabolic SAR markers are being formed below the candles, indicating a support for the candles to move upwards.
As per the Awesome Oscillator, red spikes are starting to form below the zero line, indicating a bearish move.
The Stochastic indicator shows a bearish crossover, indicating the market moving to the bottom.
Conclusion
All the indicators in the one-hour chart are bullish. The indicators in the one-day chart are indicating a bearish move, with the exception of Parabolic SAR, which is indicating a bullish move.
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Source: AMB Crypto

Stellar Lumens [XLM/USD] Technical Analysis: Altcoins buckle under immense pressure of the bear

Stellar Lumens [XLM], like all the altcoins in the crypto space, have been under the bear’s extreme pressure. There haven’t been any developments in the community except for the recent Starlight payment channel development, that has given the community a sense of hope.
1-hour
Stellar Lumens [XLM/USD] Technical Analysis: Altcoins buckle under the immense pressure of the bearThe downtrend is clearly visible with a price range of $0.2520 to $0.2370, with the current price at$0.2353 and market cap at $4.4 billion.
Parabolic SAR markers are below the candles in this bear market indicating a bull presence in the hourly chart.
MACD line is hugging the signal line indicating a possible crossover to the bottom.
Chaikin Money Flow indicator topped out today on October 27 and has been going down since, indicating that the money is going out of the market.
1-day
Stellar Lumens [XLM/USD] Technical Analysis: Altcoins buckle under the immense pressure of the bearThe downtrend in the bear dominant market is not a new development, it ranges from $0.3356 to $0.2522, there doesn’t seem to be a supporting uptrend since the market is basically moving sideways.
Support can be seen at $0.1899 and successively at $0.1769. Short term resistance is set at $0.2812.
The candles in the 1-day chart are on the exponential moving average while the Bollinger Bands, however, are close to each other indicating the decrease in volatility.
The Stochastic indicator has crossed the signal line towards the bottom, indicating a bearish crossover.
The RSI has been at the centre for quite a while and is tilting towards the bottom.
Conclusion:
In the 1-hour chart, the Bollinger bands, as well as the Stochastic lines, indicate a bearish move of the market, while the RSI indicator is at the centre indicating even buy and sell pressure. The Parabolic SAR indicates a bullish move, while both Chaikin Money Flow indicator and the MACD indicate a bearish move.
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Source: AMB Crypto

Steller Lumens [XLM] integrates Starlight bidirectional payments channel by Interstellar

The bear seems to have gone berserk in the crypto space as the markets have been moving sideways without a bull run since quite a while. Altcoins like Ethereum [ETH], Litecoin [LTC], XRP, and Stellar Lumens [XLM] have faced the same fate and are hoping for a Hail Mary.
Interstellar, the result of a merger between Chain and Lightyear, announces the preview launch of Starlight, that implements bidirectional payments channel for transactions on Stellar. Transactions on the payment channel are relatively private, secure and happen in an instant.
The normal transactions on the blockchain usually take time for the blocks to reach a consensus, which then allows the payments to proceed further by publishing the data of transactions to all observers while paying a small fee. This method of payment is obviously not private as it discloses the information of the transaction and is also time-consuming.
A payment network, on the other hand, would have a separate pathway set up between transacting parties, thus making the transaction happen in an instant, as they do not need the blocks to reach a consensus. These transactions, however, would not be published on the blockchain. When the channel is closed, the network takes into account the history of payments and shares the balance to their respective accounts and only the final balance is then added to the blockchain.
Interstellar is essentially taking a good thing and making it better as it has plans to extend the starlight project to Stellar’s built-in multi-hop payments across the newly developed payment channels. Starlight also has plans for making their payment channels compatible with other payments networks, such as Interledger.
Protocol Architect, Daniel Robinson said,
“Starlight payment channels are analogous to the Bitcoin payment channels used in the Lightning Network.”
For now, the review release only supports bilateral channels, i.e., channels with exactly two individuals and has an in-built wallet and a Starlight payment software as well. Starlight, for now, is released on the testnet until all the bugs are worked out.
Robinson further talked about the Starlight, saying,
“It allows transacting in lumens only (the native asset of the Stellar network). Future versions will support any asset issued on the Stellar network.”
A Twitterati @georgewnaylor quoted the use-case of the Starlight project saying:
“Privacy, and multi-chain interoperability, to name two. Laying the groundwork for CBDC/bank issuance on the network.”
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Source: AMB Crypto

Stellar Lumens [XLM] and Dash to be supported on BitGo blockchain security platform

Recently, California-based blockchain security company, BitGo announced their support for two major players in the cryptocurrency market, Dash and Stellar Lumens.
The Founder and CEO of BitGo, Mike Belshe stated that both the platforms offer advancement in payments. He added that Dash has been focusing on offering instant payments and one of their unique features is that the privacy payments can be accessed through their platform. He also spoke about Stellar Lumens [XLM] and how the platform had been contributing towards tokenization. He added:
“They have been focusing on the global payments for consumers which is a little bit different than what Bitcoin does”
BitGo, with the help of its custody product, supports 85 cryptocurrencies in the market, including Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH], Litecoin [LTC], and Zcash [ZEC]. According to Fortune, BitGo announced that it will be supporting Lumens in a couple of weeks. The company had recently introduced BitGo Trust, which is a qualified custodian for digital assets approved by the financial regulators of South Dakota.
Mike stated that BitGo does not use its platform for trading but provides custodianship and securities. He added:
“In our view custodianship has been the missing piece in the infrastructure of digital currency”
He also spoke about the difference in the custody solutions offered by BitGo and other platforms. He said that exchanges are usually focused on retail investors, where they focus on signing up a hundred thousand users a day and the problem with this is that they have a very small team working behind the security. BitGo, on the other hand, has a fully dedicated research and development team whose sole purpose is to provide security to any company in the world.
BitGo had recently become one of the first cryptocurrency companies to offer custody solutions, especially for cryptocurrencies. The company has also agreed to open itself to audits, start the common scheme of ‘Know Your Customer’ and also reveal the company books on a monthly basis.
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Source: AMB Crypto

BitGo Adds Stellar Lumens and Dash, CEO Says They Offer Unique Features

BitGo, a major Palo Alto-based cryptocurrency startup, is adding Stellar Lumens (XLM) and Dash (DASH) to its list of cryptocurrencies that it offers custodian solutions for, signaling that the two cryptocurrencies are seen as being unique and practical enough to pass the company’s selective coin addition process.
Customers will be able to generate wallets for Dash, a spin-off of Bitcoin aimed at being a more effective means of payment, starting Friday, and wallets for Lumens starting sometime in the next couple of weeks.
BitGo markets themselves as being the “world’s most secure wallet provider,” so the addition of XLM and DASH wallets could be exciting for investors in the two cryptocurrencies. The startup is also the largest Bitcoin processor in the world, with over $15 billion in monthly transactions with clients from over 50 countries.
BitGo CEO: Dash and Stellar Lumens Offer Unique Features to Users
The announcement regarding the addition of XLM and DASH came from Mike Belshe, BitGo’s founder and CEO, while speaking on Fortune’s Balancing the Ledger FinTech video series. Belshe specifically noted that the addition of the two new cryptos is due to their unique features that “offer some advancements, particularly around payments.”
Specifically, Belshe explains that the addition of Dash is due to the cryptocurrency’s “instant payment” and “privacy payment” features that are proving useful for many people, specifically those in countries like Venezuela, who are using Dash to avoid Hyperinflation and damaging fiscal policies.
Ryan Taylor, Dash Core Group’s CEO, recently spoke to Business Insider about the adoption of Dash in Venezuela, saying:
“We are seeing tens of thousands of wallet downloads from the country each month… Earlier this year, Venezuela became our number two market even ahead of China and Russia, which are of course huge into cryptocurrency right now.”
Belshe also explains that Stellar Lumens was also a clear pick for BitGo due to its narrow focus on providing “global payments for more consumers,” which sets it apart from Bitcoin due to its specific focus on transactions rather than being a store of value.
Stellar Lumens has been seeing increasing adoption rates, specifically from IBM’s new cross-border settlement system, World Wire, which uses Stellar’s blockchain to process international transactions.
That being said, it is important to note that institutions looking to use World Wire are not required to use XLM to conduct the transactions, and the institutions have the ability to choose any cryptocurrency (whether it be XLM or a stable coin) to transact with. Many investors assume, however, that XLM will be the go-to choice due to its seamless compatibility with the Stellar blockchain.
BitGo’s Additions Come Amidst Increasing Competition
As to the increasing rate of cryptocurrency custody solutions, including those potentially being offered by JPMorgan Chase and the New York Stock Exchange, Belshe contends that BitGo will always be seen as a better choice due to custody being its sole focus. This is compared to exchanges that simply want to hold funds to encourage the use of their connected exchange.
Belshe explained that if the NYSE went to the SEC and said “‘Hey, please let us be a custodian for the assets that we trade,’ the SEC would laugh them out of the room.”
Featured image from Shutterstock.
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Source: New feedNewsBTC.com

Stellar Lumens (XLM) Price Watch: Ascending Triangle Formation

Stellar Lumens Price Key Highlights

Stellar Lumens has formed higher lows and found resistance around 0.2600 to create an ascending triangle on its 1-hour chart.
Price is nearing the peak of its formation so a breakout in either direction could take place really soon.
Technical indicators are giving mixed signals on where the breakout might go.

Stellar Lumens price is consolidating in an ascending triangle formation on the short-term chart, with traders waiting for direction.
Technical Indicators Signals
The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. This means that a break higher is more likely to happen than a breakdown, sending Stellar Lumens up by roughly the same height as the triangle consolidation pattern. Similarly a break lower could be followed by a drop of the same height.
Stochastic is still heading north so Stellar Lumens could follow suit while buyers are in control. However, exhaustion could be seen soon since the oscillator is approaching overbought levels. Turning back down could force sellers to return and push for more declines. RSI is treading sideways to reflect current consolidation conditions as it is a lagging indicator after all.
XLMUSD Chart from TradingView
There haven’t been much market developments specific to Stellar Lumens these days, which explains why this particular altcoin has been stuck in consolidation. There has been some degree of support recently in the industry, though, as the reversal of Google’s ban on bitcoin and ICO ads this month could bring more interest in digital assets.
Still, traders are being cautious about piling on more long positions. Perhaps there is some uncertainty surrounding the SEC ruling on bitcoin ETF applications after the regulator extended the comment period. Approval could bring gains for bitcoin and the rest of the cryptocurrency industry while rejection could mean another leg lower.
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Source: New feedNewsBTC.com