Last week, investors were quite displeased about the decline of the market. They were, however, expecting the market to recover when Japan announced that it is stiffening its noose of cryptocurrency regulations. The news has resulted in the further plummeting of the market as many institutional investors have suspended all plans to invest in the market. But the Stellar upgrade might just change all of that.
Stellar (XLM) Price Today / USD
For some time now, not much has been said about Stellar as many investors had lost hope on the coin after the January market crash. Surprisingly, Stellar revealed their plans to pump $500million into buying Chain. Apart from its plan to purchase Chain, there are many other impressive updates on Stellar that investors will be pleased to hear.
Stellar Upgrade To Address Poor Market Performance
Before January, Stellar (XLM) was doing just fine in the market as it was reported to have crossed the 15 billion market cap mark. However, the market plummeted early in the year, causing investors to pull out. The Stellar development team who are on a mission to revive the glory of the coin have promised that better days are ahead for investors.
Stellar is soon to launch the USD Anchor Network which will enable XLM holders to interact with the USD directly.
The native Stellar exchange soon to be completed by the development team will make XLM one of the best in the market, increase pairings as well as the volumes to the market.
Reputable Institutions Show Support for Stellar (XLM)
The announcement by Stellar to purchase Chain indicates that they are ready to go mainstream. Chain has been in business for quite some time and is known for its prowess in blockchain technologies. No doubt, acquiring Chain would make the Stellar network stronger and bring about growth. Global brands like VISA, Citi Ventures and NASDAQ, have shown their support for the move by Stellar.
Stellar Upgrade Will Lead to an Upsurge In Price
After last week’s lacklustre market performance, many Altcoins dropped significantly in price. Stellar (XLM) seems to be bouncing back gradually.
Stellar (XLM) coin currently ranks Number 7 by market cap and has been trading $0.188052. However, if the Network succeeds in purchasing Chain, XLM will increase in value by the end of the year, and more meaningful gains will be realised.