Stellar (XLM) Rebranded as Expectations of Important Announcement Loom
XLM will be presented at the Money 20/20 expo in Asia within 10 days, unveiling a new logo that diverges from the “rocketship” symbolic.
“We have big plans. Could you see a cartoon rocket ship in use at some central bank or in a press release from a national monetary authority? We couldn’t either,” the Stellar team commented.
Stellar will have a new logo of a strike-through circle, nodding to the symbolism of a planet in space, but also aimed to serve as a currency-like symbol. The new logo for Stellar is the one shown below:
The new logo has been proposed by the Kurppa Hosk design group, which has been hired for the task, and the new identity may be revealed soon. The Stellar project has made forays into banking and remittances through its partnership with IBM, and the project seems ready to continue on this track of development. Stellar has been compared to Ripple’s XRP, for being an open-source alternative with similar characteristics.
Stellar will launch its renewed brand identity this May. In the meantime, the immediate expectation is for a “big announcement” to arrive during the keynote speech of founder Jed McCaleb during the Money 20/20 conference in Asia.
The XLM market price stabilized above $0.10, yet without extending Monday’s rally. XLM has remained relatively flat, as the asset has been displaced by others. However, the renewed interest and publicity may see the rebranded project gain investors’ attention once again.
XLM is seeing its activity pick up on Binance, boosted by the exchange’s popularity, as well as the additional Tether (USDT) pairing. XLM trading volumes have also picked up since January 2019, hovering a bit under $200 million. XLM may also be lifted up by the general trend of booming prices for altcoins, as assets are breaking out from their recent lows on news of positive developments and milestones met by various projects.
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