Stellar (XLM) Surges as Top 10 Winner in Recovery
UK Bitcoin Investors Might Exploit Gambling Tax Loophole
Stellar (XLM) staged a stronger recovery after a few days in the red on the crypto markets. XLM bounced more sharply, turning into the biggest top 10 winner in the past day.
The XLM market price has not yet managed to cross the $1 milestone for a longer period, and with a price around $0.52, once again becomes an attractive digital asset.
At the beginning of 2018, the major factor behind the rise of XLM is popularization and attention. A previously overlooked asset, now Stellar has lined up with other platforms, in a bid to take a part of the ICO and distributed app market.
Stellar has been more visible compared to WAVES, and leads platforms like Stratis with several ICOs already completed.
"Don't sell#Xlmcoin#lumen#stellarCoinNext update 18 jan rate will pump on 18 till 6000 satspic.twitter.com/75601cjkDG — Sujeet Verma (@SujeetABC)15 января 2018 г."
Little is known about the potential of Stellar to take up the KIN token, which is at the moment a rather obscure digital asset tied to a well-known mainstream tech company, Kik. Hosting this token may give additional boost to XLM.
The other big boost for XLM and its exposure to international investors is the Binance platform. While investors may find it more difficult to trade on Bithumb, Binance has built up a wide user base, and has taken up more than 12% of the trading volumes for XLM.
The Stellar Decentralized Exchange has a patchy performance, with better and worse days. At this point, decentralized exchanges have been touted as the solution to regular exchange overloads, high fees and involved verification processes.
But at the moment, the Stellar DEX mostly trades the MOBI token from the Mobius ICO, securing liquidity for a still unknown digital asset.
Despite the currently low prices, some see XLM as remaining a major cryptocurrency, possibly achieving the status of Ripple (XRP) and taking over Bitcoin. But right now, those predictions are a bit far-fetched. The market still reels from the January sell-off, and XLM still has to revisit levels near $1.
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