The crypto market shows that there are some currencies with an incredible future potential. But during the last days we have seen how Bitcoin (BTC) increased in value and other alt coins lost their influence. An outlier to the trend is the so called Stellar Lumens (XLM).
Stellar Lumens the Outlier
Most of the virtual currencies in the market were losing part of their value, with he exception of Bitcoin and Stellar Lumens in the top 10. We can see, for example, that Stellar reached the 6th position in the market after surpassing Litecoin (LTC) and its total value.
But what exactly happened that Stellar grew so strong? Well, Coinbase published a press release in which they explained that were ‘exploring’ new cryptocurrencies to add to the platform, including Stellar and four others.
The press release uploaded by Coinbase reads as follows:
“Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX). We are making this announcement internally at Coinbase and to the public at the same time to remain transparent with our customers about support for future assets.”
At the same time, there was another important information. The virtual currency and network partnered with IBM, which is already a pioneer in business applications for blockchain. Additionally, the company will be testing a stable coin (or a Crypto Dollar), that will be running on the Stellar blockchain network.
Bridget van Kralingen, IBM’s senior vice president of global industries, platforms, and blockchain, said:
“There’s this tremendous opportunity to make blockchain payments feasible, especially for cross-border. What is great about this is they are just basically digital dollars – digital fiat currency.”
Another important development that is taking place in the space is related to BitIRA, an important cryptocurrency exchange that is based in California. It was able to expand the virtual currencies offered, including Stellar Lumens, among others.
This is quite positive for the Stellar network because BitIRA has very strict security protocols and end-to-end insurance program.
[Editor’s Note]: BitRA is not actually a cryptocurrency exchange. As the company explained it, “BitIRA is a cryptocurrency services company that helps customers buy digital currency for their retirement accounts.”