Stellar Lumens News Today – The leadership and team of the Stellar Lumens (XLM) blockchain project are working hard to ensure its expansion. The blockchain is among the strong projects in the cryptosphere. Besides, there are expectations that its cryptocurrency’s price (Lumen or XLM) will soon surge. Some crypto experts even believed that the price gain will hit $50.
The Head of Partnerships for the Stellar Foundation, Lisa Nestor, recently made an announcement on boosting the blockchain ecosystem. She disclosed that the Foundation is working tirelessly in many countries across the globe to increase the blockchain’s partnerships and case uses.
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The project recorded its most successful ventures in South America and Africa. The outcome in these regions isn’t surprising. The underdeveloped traditional financial system of countries in these areas must have triggered an increase in the use of cryptocurrencies. Besides, the digital currencies improve the payment system.
For instance, in some parts of Africa many people who own a mobile phone do not have a bank account. Blockchain projects with plans for expansion can key into such a situation in less developed countries of the world. It is a good strategy for growth and many projects such as Cardano are already pursuing it.
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Though XLM has done very well, it hasn’t exploded as predicted by some crypto enthusiasts. It has never performed as well XRP, a cryptocurrency from a direct competitor, Ripple. Besides, this blockchain project is considered the most similar to Stellar Lumens. Despite the fact that both projects were created by the same individual, XLM hasn’t competed with Ripple’s XLM in the crypto market.
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Meanwhile, XLM which ranks 12th by market capitalization trades at $0.104126 and is no match for XRP that is at the 3rd spot. However, XLM can make little profit if the bulls can increase its price to a resistance floor at $0.13. Though expectations are high about XLM’s price gain, the possibility of such a drastic price rise is questionable.
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The use cases of Stellar’s XLM will determine whether the cryptocurrency will soar. It will succeed if it becomes useful in regions of the world with less developed traditional banking system. XLM’s usefulness in South America, Africa, and other countries of the world will trigger an increase in its demand. Consequently, more market will be generated for the digital currency like the case of Binance coin.
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Besides use cases, partnerships may help push XLM forward in the crypto market. Also, XLM can favorably compete with Bitcoin in the future if Stellar’s partnership with Big Blue will benefit XLM. Intel and Microsoft have previously benefitted from Big Blue.
Stellar Lumens has the support of IBM and can facilitate the Stellar’s expansion. IBM’s strong ties with banks will help boost the price of XLM. Stellar is platform for low-cost transfer of funds across the border. Targeting the unbanked in Africa, South America, and other regions of the world will be a good strategy for the expansion of the bockchain project.