The past few days has seen Stellar (XLM) excel on its partnerships and sentiments but has yet to reflect on the overall price of the token. The XLM/USD pair currently trades at $0.223886 USD, which represents a 75% drop from the all-time high witnessed at the start of the year. The Stellar Development Foundation, which develops and manages the Stellar blockchain, has in the past few weeks been trending on most sites given the progress made in partnerships.
First, Stellar was integrated to the Bitcoin IRA platform back in July. Stellar has recently partnered with Celsius Network to support ICOs, this will be done through Lightyear.io. Finally, XLM was integrated to SHIFT in a bid to increase cryptocurrency participation in developing countries and regions that are yet to adopt cryptocurrencies
Will these recent developments turn the bear run into a bullish momentum before the end of the year? Most of the XLM fanatics and enthusiasts think the coin will hit $1 in the coming year. Here are some of the reasons given.
1. Stellar’s integration to SHIFT opens up new markets
Stellar partnership with SHIFT signals a new push to the developing countries market. Looking at the inefficiencies solved by the blockchain, developing countries are in dire need for a technological development to combat corruption, mismanagement of funds, slow and expensive global payments. SHIFT Markets platform offers the users an exchange that allows the direct conversion of cryptocurrencies to fiat in the native currency.
Coinbase has long been taunted as a revolutionary in the field of major currency exchange to fiat. However, no specific emphasis has been placed on emerging markets which are in essence the biggest beneficiary of the blockchain technology. Addition of Stellar Lumens to the platform, open up a new and adoptive market to XLM that may well be the key to unlocking the $1 price target.
“This is an exciting partnership for us as many of our exchange clients would like to offer Lumens trading on their exchange. Their commitment to provide low-cost financial technologies in developing nations makes them a good fit for our market. We aim to increase Lumen liquidity and usage for major, minor and exotic fiat”
– Ian McAfee, SHIFT’s CEO and Founder.
2. Stellar ranks third on Bitcoin IRA listing
The field of cryptocurrencies still experiences wild volatility in price movements that has kept many away from the field. However, some of the believers have started saving for retirement with cryptocurrencies through the Bitcoin IRA service. Recently the company announced that XLM ranked third on the listings of investments on the platform to Bitcoin and Ethereum. The company currently trades over $300 million USD worth of crypto investments and is keen on increasing the holdings.
This relates well with the HODL concept preached by most of the blockchain believers. Stellar in particular is on the forefront of gaining in the long term as more people dump in their investments in Bitcoin IRA. The recent rankings will go a long way in proving the sustainability of XLM in the long term.
In conclusion, even as the market tries to recover from lows last experienced in October 2017, XLM is a project set to flourish in the coming days, a $1-mark prediction is in no way an exaggeration. Wait and see!