With the United States enjoying its Thanksgiving holiday, there wasn’t a lot of news in relation to coins. Stellar Lumens has been ranging from $0.18752 to $0.20835 in the previous twenty-four hours and at its current price, Stellar Lumens is still down 79.62% from its all-time high of $0.92 set on January 3.
The crypto market has lost up to almost $100 billion in less than a month. During this stumble, Stellar (XLM) was more stable than EOS and overtook spot 5 in the ranks and it now looks to take the 4th spot from the rotten BCH. Bitcoin Cash has been the most probable cause of this price plunge and simultaneously most affected coin as it has lost up to 50% in the last seven days.
Potential price catalysts for XLM
Stellar’s off-chain payment channels, a parallel of Bitcoin’s Lightning Network. As per this timeline, Stellar plans implement its own lightning network by December 1st.
If they pull this off as planned, December could be a good month for stellar. The lightning network allows transactions to happen off-chain, fast and at huge scale. With the lightning network, Stellar would be capable to handle millions of transactions at speeds that dwarf any centralized system available today.
Speculations about XLM to be the next coin on the Coinbase exchange is somewhat decreased in the wake of the most recent market carnage but is still a valid argument and potential price surge instigator.
Partnerships and exchanges
Earlier this year, IBM announced that it would be partnering with Stellar and will to that effect, use XLM as the native token for its crypto sphere projects. Stellar was built as a blockchain network which with IBM’s connection with various banks across the globe is sure to guarantee XLM a place in the world.
BitOasis, a cryptocurrency and Bitcoin exchange based in Dubai and serving in parts of the Middle East and North Africa has now listed XLM tokens as a part of their trading program.
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