Stellar Lumens XLM Buoyed By Coinbase News
It’s hard to find good news in the world of crypto prices right now, so sometimes less bad news must be acceptable. We find ourselves making this compromise when evaluating Stellar Lumens XLM. While trading more than 81% beneath all-time high prices, XLM is still far outperforming competitors like NEO and ADA, which are both down more than 95% from their all-time best prices almost one year ago.
Why is Stellar Lumens’ fall less dramatic than other crypto industry stand-outs? On one hand, we’ve got genuinely exciting development and partnerships from Stellar. On the other hand, we’ve got strong rumours that Stellar Lumens XLM will be one of the new coins added for sale on exchange giant Coinbase.
Coinbase remains a kingmaker in cryptocurrency, even though its presence is not as strongly felt as it was a year ago. The coins featured on Coinbase are the most visible in the industry. Bitcoin, Bitcoin Cash, Ethereum, and Litecoin all have their strengths and weaknesses, but for a large portion of the world, they are the only cryptocurrencies known to exist.
The addition of any new cryptocurrency or token to Coinbase immediately increases its stature in the wider world. And though Coinbase alone doesn’t make a coin immune to market crashes (we’re looking at you, Bitcoin Cash), it does tend to send a message to the world that the token in question is here to stay.
Stellar Lumens’ Case for Investors in Late 2018
Many investors are wondering if now is a good time to buy Stellar Lumens. There are many ways to look at this question. On the one hand, the market has tanked in recent days. Perhaps we’ve “found the bottom”, making these prices an amazing buying opportunity. Or maybe prices will collapse even further. We have no way of predicting these outcomes.
But when we consider fundamentals, Stellar Lumens looks a little better. Stellar still has the partnership with IBM, with international applications being built and some already in use. Stellar also has a growing number of native applications built for its internal ecosystem, such as the TenorTask AI Stellar marketplace.
Others have pointed to XLM’s price as a tempting factor for new investors. Even though “cheap coins” are a misnomer (there are billions of XLM but only a few million BTC, thus making BTC much more expensive, though growth percentages are felt the same for holders of each), one XLM priced at just $0.14 can be very tempting for a new Coinbase customer, especially when all of the other assets listed on the exchange cost more than $100 each.
No one can know what the future holds for XLM, bu Stellar is one of our favourite blockchains around. We’ll follow this story with interest.
*Information in this article should not be taken as investment advice.
Featured image source: Flickr