Stellar (XLM) is one of the few coins in the market that is focused on creating a better financial system for the economies around the world. It has a mission to bridge the gap between the banks, the payments systems as well as the people. The most important factors that the platform concentrates on are the ability to become fast, reduce transaction cost to the minimum and have reliability.
Stellar is the future of banking through the provision of better remittances for banks and ordinary people. The platform is also ensuring that it has mobile branches by giving the business the advantage of better retail management while eliminating overhead costs. Stellar has the potential to become one of the most sort after projects in the near future for solutions in the banking sector. The wide adoption of Stellar technology is likely to spur growth and cement its position among the major digital assets in the market.
- The Technology
Stellar (XLM) is a non-profit organization and has the vision to be the top in various aspects in the industry, but one of the most important is being able to bring the best of the blockchain technology into the traditional financial sector. Significantly, the team hopes that the technology will bring financial inclusion and aid in the fight against poverty. This can only be done by ensuring that every individual around the world is able to achieve his/her potential using the blockchain as a strong pillar. The payment infrastructure used by Stellar has the capability of confirming transactions within 2.5 seconds. The platform operates on the basis of decentralization in addition to giving developers of various applications in the industry both support and friendly software to develop and launch their products.
- Strategic Partnerships
In the cryptocurrency industry, partnerships are very vital. First, they strengthen investors’ confidence in a project and two, digital asset utility can be better explained by the type of partners in the project. Stellar as a financial solution provider has been able to sign many partnership deals around the world and continues to do so. The website states that “the Stellar Network is much larger than just the Foundation. It includes financial institutions, payment aggregators, and technical specialists all committed to supporting a new and inclusive global infrastructure for payments.” Stellar has partnered with huge corporations like IBM, Deloitte, Stripe as well as Factury among others.
In the latest partnership news, Stellar (XLM) is currently working on acquiring a San Francisco based startup referred to as Chain. The startup has its focus on building smart economy using cryptographic ledgers for better financial products and services. The deal is expected to cost Stellar at least 2.2 billion XLM coins. The platform, Chain is known to have raised $43 million from various venture capitalist firms. Chain has the option of HODLing the XLM coins from the acquisition deal or liquidating them. Selling the coins could cause a decline in the current price by increasing the circulating supply abruptly. However, Chain is likely to hold on to the coins and watch Stellar (XLM) price scale the heights using technology and other strategic partnerships.
Stellar Price Analysis
Stellar (XLM) price has slightly recovered from the pits after the declines that took place last week. The crypto exchanged hands marginally below $0.178 but the bulls entered leading to a spike above the resistance at $0.20, XLM/USD is trading a short-term bullish flag pattern supported by both the 50 SMA and the 100 SMA on the 15’ timeframe chart. The price is seeking support above $0.1930 while the buyers have their eyes on $0.20 in the medium-term.