What’s going on in Stellar? XLM continues to differentiate from market
Stellar Lumens (XLM) showed an increase of up to 7 percent against the US dollar in the last 24 hours. The driving force behind the price increase is likely to have rumors that Fidelity may use the XLM Blockchain to transport digital assets on its platforms.
Are Stellar Lumens rising with rumors of Fidelity?
Fidelity came to the fore as a company that provided the hope for the return of the crypto investors’ hopes. Optimist investors hope that Fidelity, a newly launched corporate investment platform for Bitcoin and Ethereum, will pave the way for a long-awaited strong recovery in the crypto-money markets by the end of the year.
The fact that Tom Jessop, head of the corporate affairs department in Fidelity, is former president of Chain, one of the Blockchain platforms that make up the Interstellar, stands as an important detail that reinforces speculation. C-level administrators generally use their connections and network for their new customers, which means that Stellar is used by Fidelity.
Jessop had a 17-year history of Goldman Sachs before starting to work at Chain. The Stellar community can also refer to the Stellar network by using the Stellar network of Fidelity, due to its connections in Goldman Sach.
In addition to the Fidelity rumors, the Hong Kong-based stock exchange Coinsuper revealed that the listing of the XLM on their platform would increase liquidity and appeal to retail investors in the country. Coinsuper also announced that Stellar Lumens will be listed with Bitcoin and Ethereum pairs.
Potential developments that may increase the XLM price
Even if the Fidelity story does not work as planned, XLM owners have plenty of reasons for the potential for ascension of the token.
Stellar’s partnership with IBM is constantly drawing attention. This is the most important development of all Stellar news. The fact that the Stellar network will be the first stable coin to be released by the technology giant IBM may be another catalyst for the market XLM. This could lead to a record price of $ 0.75. In addition, this 75-cent resistance to reach the end of the year to 80 cents and then can reach a level of 1 dollar.
In another development, the BLOC company, which backed up Stellar-based assets, announced a partnership agreement between Hyperion and Stellar Lumens. The potential of Hyperion’s partnership with Interstellar to increase its XLM value lies in the fact that Hyperion actually hosts the trading of digital assets in an environment fully regulated by the Securities and Exchange Commission.
Stellar Lumens ranks 6th in the CoinMarketCap crypto money list with a market value of about $ 4.5 billion.