It is not a secret for anybody that cryptocurrencies are getting more traction among the industry as each day passes, a fact that without any doubt can potentially increase the scope of all of the virtual coins. Even when cryptocurrencies have given us enough reasons to want to keep them as assets, the industry still needs a spoon of validation to fulfill one of our greatest dreams as crypto users, a mass adoption.
In this specific case, a great milestone has just happened as one of the most influential companies in the financial sector has decided to place a bet on cryptocurrencies, and of course, it could not be other than the National Association of Securities Dealers Automated Quotation (NASDAQ), the second largest electronic and automated stock exchange in the United States.
NASDAQ has decided to support one of the most mentioned coins in the industry at the moment, the Stellar Lumens (XLM). We can be sure that great things are coming for both companies with such an incredible alliance, but one thing we may ask is, why NASDAQ has chosen Stellar? Well, let’s find out the main reasons why Stellar (XLM) represents a better option for the famous stock exchange than the other cryptos in the market.
The solidity of Stellar Lumens
NASDAQ is seeking to reconstruct itself and also hit into the digital boom of cryptocurrencies, and that’s of course, something that is more likely to happen if it decides to back a solid token of the industry, in this case, Stellar (XLM).
When it comes to performance in the market, Stellar (XLM) has proven to be stable and robust, although its growth has been slow the coin has been evolving with the time, a fact that’s even more remarkable in times where almost all of the cryptos are in red.
At the moment of writing, Stellar (XLM) is the number 8th in the listings of coinmarketcap, position in which it is traded at a value per coin of $0.29263 and has increased in value by 1.08% against the US dollar in last seven days and a 2.95% against the leader of the market, Bitcoin (BTC).
Stellar partnerships and scalability
If we talk about notable partnerships in the crypto sphere, Stellar (XLM) comes out as a great performer. Over the course of its existence, this coins has been working on building up powerful alliances among the financial industry. In this matter, we can count three of the most remarkable, the one with OKEx, the exchange from Hong Kong, the ones with the Deloitte and ICICI banks, and of course, the one with IBM.
Like this, Stellar is not only opening itself to markets such as the banking; it is also working on building up a large scalable platform, a feature that for sure is of interest for NASDAQ as it is looking to solve issues of scalability.
In addition, the Stellar platform provides incredible features when it comes to cross-border transactions, including the lowest fees in the market and a very remarkable speed of operation.
As with the whole market, Stellar (XLM) is currently suffering certain drops; however, the coin has managed to stay afloat in days where the tendency is entirely bearish. The potential support of NASDAQ may represent a huge benefit for the token, so for sure, Stellar Lumens should be watched in the days to come.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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