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Stellar Lumens on high-flying – a response to concerns about Ripple XRP?

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If you had asked in January which cryptocurrency would gain most this year, Stellar Lumens probably would not have cited the list. The attention was more to the “stars” EOS and Tron. At the time Stellar seemed like a slow turtle against their fast ascent. It was also assumed that Ripple Labs would continue to be successful and the cryptocurrency XRP would nullify Stellar's success.

However, Stellar has shown it all this month. Stellar Lumens even overtook Litecoin at the time of writing. This Stellar ranked sixth on the list of the largest cryptocurrencies by market capitalization. The fifth place (EOS) lacks only about 1.6 billion USD market capitalization. In addition, Stellar had grown by 13 percent in just one day.

Stellar's green light from many sides

The cryptocurrency XRP is Stellar's closest competitor. However, XRP still has to fight its way through the “regulatory quicksand”. The cryptocurrency issue Ripple XRP is far from secure despite the success of Ripple Labs. In contrast, the Stellar protocol has already received green light from many sides.

For example, ItBit was the first company to receive a “BitLicense” for the cryptocurrency trade in the US state of New York. Stellar Lumens was one of the approved cryptocurrencies. Of course this has no direct bearing on Stellar, but one has to keep in mind that the approval is very much in demand and rarely given. At least, therefore, it should reinforce investor confidence.

In addition, Stellar has also ranked one of the good places twice in a row in an official review by a ministry of the Chinese government.

In addition, there is confirmation from a panel from Bahrain that Stellar Lumens conforms to Islamic law and is thus Shariah-compliant.

New Tokens and Initial Coin Offerings (ICOs)

The Stellar protocol is designed to allow transactions in any currency. Therefore, several new tokens and Initial Coin Offerings (ICOs) use the protocol. The most famous newcomer is likely to be Stronghold USD, the first stablecoin on the Stellar blockchain.

New partnership and market expansion

The latest report could put Stellar on a par with ripple in terms of international payments. This is about the new partnership with TransferTo, which I already reported yesterday. With this partnership Stellar wants to participate in future with money transfers in over 70 countries.

To the partnership, TransferTo's Chief Customer Officer Aik-Boon Tan said:

“(…) Through the cooperation with Stellar we want to use the blockchain and scale our cross-border payment service. This allows us to offer our partners even better services at even lower costs. “

Sources: CoinMarketCap, CNBC, Ranking (in Chinese), Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/stellar-lumens-auf-höehenflug-eine-reaktion-on-sorgen-um-ripple-xrp/

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