Stellar XLM has been doing decently as of late. Starting the month of July at $0.189 USD, it managed to take advantage of the little market bull run we experienced and went up slightly to $0.218 USD, before seeing some correction and falling down to just above $0.2 USD. With a market cap of $3.806.772.475 USD, it is currently traded at $0.202909 USD, which is a 3.10% drop in the last 24 hours. XLM’s spot as the 7th most valuable cryptocurrency in the world could be endangered soon enough, as Cardano is less than a $100 million USD below in 8th and has been performing with a bit more stability as of lately.
Known for being pitted directly against XRP in the battle for the cross-border payment market, Stellar Lumens has been looking a bit healthier of the duo. While Ripple has been dealing with its third security related lawsuit, XLM avoided any controversy and came out with a couple of solid updates for its fans and holders.
While XLM does sport an impressive lineup of partnerships, the IBM one remains the main focus of the crypto community. And this partnership looks to be ready to bring about much more adoption to XLM and crypto in general. IBM recently won a public tender that was released by the government of Australia. The contract that was signed between the two aims to encourage digital technology development. The technologies in question will include blockchain technology, quantum computing and AI. With this move, the government of Australia will spend around $1 billion AUD to fulfill its goal of becoming one of the top-three “digital governments” in the world in the next five years. The deal looks to bode well for the XLM project since IBM will most likely look to use it as the backbone of any blockchain-related projects.
In other news, XLM announced StellarX, “a user friendly and totally free place to trade on@StellarOrg’s universal marketplace”.
Christian R, co-creator of StellarX, confirmed in that the platform will be an app for Stellar’s universal decentralized marketplace where users will be able to trade all types of assets – fiat, crypto, bonds etc. – in a way that is feeless and cross-platform compatible.
“Stellar’s universal marketplace is greenfield for experienced, adventurous traders — the order books are raw and underexplored. Since StellarX is the first complete client for Stellar, we support every last token issued to the network, all 2500+ of them, including dankness like eQuid (GBP tether or digital cephalopod, who can say?) and something calling itself “charna token”. Roughly 50 new tokens come online each week — crypto, commodities, fiat tethers, securities, and so on,” says the official Medium post of Christian R.
The latest IBM development and StellarX will therefore make trading digital assets a lot easier and ensure added liquidity and adoption for both XLM and the rest of the crypto market. If the Stellar Lumens project keeps bringing us these solid updates, we could be looking at it becoming the preferred peer-to-peer cross-border payment platform sooner rather than later.