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Getting listed on a major exchange has always been a big plus for any digital coin and this was Stellar Lumens (XLM) goal. The coin has appreciated by almost 30% in the last 7 days and appears poised to give Ripple (XRP) the third largest cryptocurrency by market cap, a huge challenge in a bid to control the emerging digital markets.
Stellar (XLM) entry into the US market through Coinbase has been frowned upon by many crypto enthusiasts especially when the coin was picked leaving its arch-rival Ripple in the cold. However, this could be Stellars’ breakthrough that could become a threat to Ripple market share given the competitive nature of products both offer.
Both coins have been struggling to get the right footing in the market and each has its own strategies to attract mass adoption. Stellar lady luck seems to be shining brighter than that of its completion and here are three reasons why Stellar stands to emerge the market leader in the future.
Launch of IBM Supported Stronghold USD on Stellar (XLM) Network
Stellar (XLM) just got a boost from an announcement that IBM is backing Stronghold USD to launch is stable coin on the Stellar network. Like Tether, the coin will be anchored on the US dollar and will tame the runaway volatility in the crypto verse. Stronghold is the company driving the coin development with IBM giving it the technical support it requires.
While releasing the news, Jesse Lund, The IBM vice president in charge of global blockchain has said:
The partnership new seem to have worked magic on the XLM price sending it to 6th position by market cap and trade in the double digit zone to trade at $0.286308 after gaining 22.67% to the dollar and 11.30 to BTC. If the momentum is maintained XLM value will act as a catalyst to cannibalize the Ripple’s market.
To assert its dominance in the in the payment sector, Stellar and Tempo have signed a deal that will see Stellar payment inroads grow to give Ripple a run for its money. This is a surefire way of the coin showing its early intentions of becoming a leader and natural choice in global financing and payments. Tempo is using the Stellar decentralized ecosystem to make fiat to crypto swap seamless and frictionless.
Ripple has succeeded in integrating its ledger systems with many banks but has failed to convince them to use XRP as a coin of choice in their transactions. This is a gapping opportunity that Stellar (XLM) is set to take advantage of and once it becomes a utility coin, the value will definitely noon. The XLM Tempo partnership could turn out to be the hidden Stellar catalyst.
After being denied the opportunity to get the Coinbase fraternity, Ripple shifted its interest to new and emerging market that led to the Indian subcontinent. However, there is resistance in its adoption due to Sharia laws, Stellar, on its part is Sharia complaint and is poised to get a huge share of the over 1.6billion Muslim fan base.
Apart from the Indian market, the Middle East and more so, the Arabian countries are yearning for a stable payment system providers and Stellar can be a nice fit for the ever growing digital coin user population in the region. The Muslim population is a key consumer of global money remittance services and this is a very lucrative area for both rivals.
These countries are ripe for a coin that will offer the population a viable value proposition and stability required to send and receive funds fast and securely. Stellar boost from Coinbase will make it stand tall and be adopted easily than Ripple. However, time will tell given that XLM is regulatory compliant while XRP lovers will wait a little longer to see how it goes as far as regulator decisions are concerned.
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