Stellar is one of the best third generation blockchains out there. This is why Tensortask, a subsidiary of UChicago Polsky Center for innovation and entrepreneurship has decided to build on Stellar’s blockchain creating an artificial intelligence market. The news comes five months after the team started working on the project. Within the coming 4 months, the project will change to open source from private alpha. What’s more, the program is part of the Google cloud startup program which means it has a high potential for growth. This makes it perfect for promoting the Stellar blockchain and increasing its use cases.
Stellar Blockchain Gains Traction
Within the last few months, there’s been a spike in the adoption of the stellar blockchain around the world. In the financial industry, Stellar has already made a name for itself. The development of Interstellar is proof of this. This will propel financial institutions that use Chain to use Interstellar.
Stellar (XLM) Price Today – XLM / USD
Stellar (XLM) is also preparing to lead the way in asset tokenization. Several companies have already started tokenizing on the Stellar blockchain. It is more efficient than many other blockchains in the industry in terms of raising capital. Small-scale and medium-sized enterprises will benefit the most from this opportunity as soon as more people learn about Stellar tokenization.
Investors see the growing use case as an ideal reason to put faith in Stellar (XLM)’s growth potential. The long-term projection shows that there are high chances of upside gains between now and December. This will mark the beginning of rapid long-term growth. Currently, there is a double-bottom around $0.19 but the trading volume of XLM has increased over the last few days.
Recently, XLM reached a high of $0.29 but there was a retracement back to the $0.25 level. The good news is that there is still upward momentum even if the price isn’t in green. The price of XLM is going to grow long-term because the cryptocurrency has growing fundamentals. Asset tokenization, for instance, is one thing that will contribute to massive growth for the Stellar blockchain and the XLM time. Also, tokenization will grasp the attention of Wall Street thus increasing the demand of XLM and subsequently giving it a boost.
Short-term, Stellar (XLM) is going to keep moving in a tandem with BTC. This is because Bitcoin is the leading cryptocurrency in the market per market capitalization and it’s price is linked to the price of every other cryptocurrency. The good thing is that Stellar still has independent prospects even if it is tied to Bitcoin. Bitcoin is also less likely to fall too low again as it bottomed out at $6000 and started correcting upwards after that. A bullish reversal at the end of the year is going to give Stellar (XLM) a significant boost in the market.
Stellar (XLM) Price Now
At the time of writing, Stellar (XLM) was trading at $0.240456. This shows that it is down by 1.65% against the USD and trading down by 1.04% against Bitcoin. The trading volume over a 24 hour period is $45,162,339 and the total market capitalization is $4,543,030,549. Even if the XLM token is currently trading in red, the long-term trend is still bullish.