Stellar Lumens XLM News: 26 New Stablecoins Will Be Launched on Stellar Blockchain

In the latest Stellar news, we will talk about the new released 26 tokens on Stellar Blockchain. According to the Wirex’s announcement; The Stellar blockchain can be used to host stablecoins just like Ethereum and other dApp and smart contract-enabled blockchains. A digital money provider, Wirex, recently announced that it is going to launch 26 stablecoins on the Stellar blockchain in collaboration with the Stellar Development Foundation.

According to the announcement, these stellar stablecoins will serve as tangible utility for users. They will be made available for trading on exchanges in the next few months and would most likely encourage mass adoption of cryptocurrencies and the Stellar blockchain.

The co-founder of Wirex Pavel Mateev said;

“joining forces with Stellar makes perfect sense for us”.

This is because the Stellar development foundation and Wirex share a common goal which is to promote the mass adoption of digital currencies and change the way payments work. These stablecoins will also be ideal for cross-border payment settlements just like Stellar Lumens. This is where the question comes in; will the new stablecoins on the Stellar network increase the competition for Stellar and affect the Stellar price prediction 2019?

According to the co-founder of Stellar, Jed McCaleb, these stablecoins will be used to make real-world payments through the Wirex Visa card. He said that he believes these stablecoins will revolutionize the global payment space. Those who are interested in using cryptocurrencies but afraid of price volatility can use these stablecoins to perform transactions.

Stellar Lumens News Today – Stellar Price XLM Price Prediction

Stellar (XLM) Price Today – XLM / USD

NamePrice
bitcoin
Bitcoin
$58,976.00
stellar
Stellar
$0.342

In our previous article, we established that the Stellar airdrops by the Stellar development foundation may have a negative effect on the price of XLM long-term. Now, there is the possibility that hosting so many stablecoins on the Stellar blockchain will affect the price of Stellar (XLM). This is especially so because these stablecoins will be used to do exactly what Stellar Lumens was created to do. The only difference is that they will be pegged to the popular fiat currencies like the USD and Euro.

Stellar Price XLM Price Analysis – Stellar Trends Seem to be Bearish, Good Time to Buy

The Stellar development foundation is one of the most ambitious in the space. Their effort reflects fully on the progress of the Stellar network. Even the Stellar Lumens price has been increasing steadily since the beginning of the year. The only time it traded in red was when the entire altcoin market was suffering. The Stellar development foundation has also used Stellar airdrops like the Stellar Coinbase airdrop to propel usage and create more awareness for the Stellar blockchain and Lumens token. Recently, 26 new tokens were released on the Stellar network. There have been mixed reactions about the release of these stablecoins and this is what we would consider in our Stellar Lumens news today. 

According to the latest Stellar analysis on cryptonewsz; Stellar (XLM) saw a good trading week at the start of April when there was a rally in the crypto market. Stellar has been working with IBM’s Blockchain World Wire to create an affordable financial system and its implications are reaching globally. Coinbase, a crypto trading website, further announced launching an educational program for users related to Stellar (XLM).

With the recent market correction, the price of cryptos has fallen sharply. However, analysts and experts are optimistic regarding its rise. According to crypto experts, there will soon be an upward swing in the value of Stellar (XLM), and it will trade with a hike of 5 to 10 times of its present value by the end of 2019.

What Is Stellar (XLM)?

Stellar presents itself as an open-sourced, distributed payments infrastructure, built on the premise that the international community needs “a worldwide financial network open to anyone.” The project is filling this need, connecting individuals, institutions, and payment systems through its platform.

In doing so, the Stellar team wants to make monetary transactions cheaper, quicker, and more reliable than they are under current systems. Additionally, their protocol connects people from all over the world by allowing for more efficient cross-border payments.

Find All Vibe Crypto, Crypto Crash Today, Tether News, Stellar Wallet, Bitfinex News, Tether Cryptocurrency News, Ripple Coin News in Smartereum.com

Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.

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