Stellar (XLM) has not had a great go of it on the trading side of things, lately, but at least it has managed to bounce back above the $0.20 mark. At the time of writing, it’s comfortably sitting at 23 cents. It’s hard to pin down exactly what has dragged the Stellar Lumens price so far below its former glory (from a couple months ago) – but that endeavor is basically pointless, because the entire crypto market has suffered along pretty much the same tragic price path since mid-January.
But, in recent days, some upbeat announcements have reinvigorated a lot of our confidence in this crypto venture’s future. Let’s talk about the two refreshing things that make us think this coin’s fate is looking up.
Stellar (XLM) is – finally – giving details on Lightning
Perhaps what has kept the Lumens price plunging is the lack of solid information recently regarding how far it has advanced its technology.
Stellar (XLM) has been a little slow to spill details throughout the past quarter when it comes to how much progress it’s made into its roadmap – all we’ve had to go on for positivity was that whole Keybase partnership announcement. In fact, months passed without any big pieces of news.
Last weekend, we wrote about how Stellar (XLM) holders were showing their frustration – via social media – regarding the lack of updates on how far into their 2018 roadmap they were. This is what we said:
“It’s been nearly three months, and there haven’t really been updates on their progress as it relates to their roadmap for this year. When is the Stellar Decentralized Exchange (SDEX) coming? What’s the timeline for Lightning Network implementation?”
Then, literally the next day, the Lumens team tweeted out this:
Relax – I’m not trying to say there is any sort of cause-and-effect relationship here. But I will say that their timing on that tweet was welcomed warmly by XLM investors.
The Lightning technology, which was originally developed to make Bitcoin (BTC) more scalable, is the next step forward for Stellar (XLM). The system allows transactions to be much cheaper and faster by putting them off-chain.
Read more about it in their official announcement.
Another crypto network is jumping on the Stellar train
So, that Lightning announcement was a week ago – but, since then, another big piece of positive news came out. The Stellar Lumens network will now be added to the Kin Foundation infrastructure:
— Kin Foundation (@kin_foundation) March 21, 2018
Kin previously only used the Ethereum (ETH) blockchain. Now, all Kin transactions will be processed on either Ethereum of Stellar (XLM). This is how they describe why:
“While Ethereum provides liquidity for Kin holders, its load times and fees can’t support our needs for day-to-day consumer use. The addition of Stellar as a second blockchain will allow us to operate the Kin Ecosystem on a faster, more efficient foundation, with low transaction fees — which is necessary for us to achieve the speed and scalability that digital services in the ecosystem will require.”
That’s written proof that XLM is faster and more powerful for transactions than Ethereum.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.