Stellar lumen (XLM) price analysis
Yesterday marked a new milestone as Nasdaq, one of the major exchanges in the US announced that it was getting into the cryptocurrency industry with Stellar lumen (XLM) being one of the first digital coins to be backed by the exchange platform. The exchange has identified stellar as one of the currencies that is expected to grow into the future due to its continued partnerships with major companies such as IBM and Novatti payments which have adopted the use of the Stellar network to facilitate their transactions, a testament to the platforms growing popularity.
Since the announcement, stellar lumens have grown from a market capitalization of about USD 4.718 billion yesterday to trade at a market cap of more USD 5.358 billion today, making it the 8th largest cryptocurrency globally. This comes after a series of price drops that had seen the shed close to 45% of its value from a market capitalization of USD 8.518 billion on 30th April. The platform offers businesses a platform through which they can make fast cross border payments with very low transaction fees.
VeChain (VEN) price analysis
VeChain (VEN) is the 16th largest coin by market capitalization with a value of over USD 1.828 billion. This is a 10% growth from its closing price yesterday. Its price had dropped consistently from a market capitalization of USD 2.539 billion at the end of April to close at USD 1.645 billion yesterday. The sudden surge in price comes after the platforms CEO, Sunny Lu presented a keynote address to a 40,000 audience and served as a judge at the china international big data expo.
The CEO presented on the how to discover and build outstanding blockchain application projects, showcasing VeChain enterprise applications implemented within the last 2 years. The event is one of the most influential in the big data, blockchain and cloud services sectors globally with this year’s event being the 3rd to be organized. Among the participants were leaders from global 500 companies which offered the platform an opportunity to showcase its enterprise solutions. The platform’s mainnet, VeChain Thor (VET) is set to be released in June. The CEO also mentioned the likelihood of partnership with an automobile company, a move that would be a great step towards real world adoption of the blockchain.
OmiseGo (OMG) price analysis
OmiseGo (OMG) tokens are currently trading at USD 10.82 ranking 21st based on its market capitalization of USD 1.104 billion. This is a turn from the downward trend the tokens price has followed in the month of May dropping from a market capitalization of USD 1.8419 billion at the end of last month to trade below the USD 1 billion mark on May 29th. OmiseGo is currently holding a retreat whose details are set to be published today.
The retreat was anticipated to air live but failed due to internet issues. Nonetheless, OmiseGo offers great scaling solution for finance on Ethereum through its plasma architecture that is infinitely scalable. It enables for the a variety of applications including building apps that allow for wallet to wallet transactions and decentralized exchange mechanisms with the benefits of decentralization, interoperability and scalability.
It remains to be seen whether these three currencies will sustain the recovery in the coming month. It is no doubt however that the platforms offer solutions with great application potential.