Tag: Stellar (XLM)

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Crypto News

StellarX Decentralized Exchange, Running with Stellar (XLM), Launched Offering Many Crypto Trading Options

The StellarX decentralized exchange, based on the Stellar (XLM) cryptocurrency, announced the public launch of its exchange platform and the reimbursement of commissions generated from transactions. In its blog, the startup explained that the open source platform seeks to position itself as a “real link with fiduciary currencies” for the purchase of cryptos or vice versa.

The aspect that stands out most at the start of StellarX is that the company will reimburse the commissions between the participants of the exchanges.

“Using StellarX costs nothing. We do not charge any fees and even reimburse all network costs, something that no other decentralized exchange can match. All the time you have exclusive control of your assets, so whenever there is interest, it is yours,” stated StellarX.

To achieve this, Christian Rudder, co-creator of StellarX, explained that the operations and orders are running on the native Stellar (XLM) cryptocurrency. Rudder also recalled that Stellar (XLM) consensus mechanism requires neither “work” nor “participation,” so it does not use user capital to operate. “Therefore, we don’t need its capital to work either,” the developer emphasized.

StellarX decentralized exchange, based on Stellar (XLM), offers many trading options

By targeting not only cryptocurrencies but also fiar money and any other assets of the traditional economy such as bonds, stocks or real estate, StellarX decentralized exchange, based on Stellar (XLM)), seeks to focus its business model to a broader area. That is how they plan to apply the correct protocol to digitize the respective fields.

Rudder placed particular emphasis on positioning StellarX as a bridge between cryptocurrencies and fiat money. That is why the platform, according to the company, allows users to charge their account with US Dollars from any bank account across the United States.

In this case, interested persons can deposit funds into the application via the Automated Clearing House (ACH). StellarX also trades crypto tokens for Euros, Philippine pesos, the Nigerian naira, the Chinese yuan, the Hong Kong Dollar, and GBP, besides the USD.

The announcement by the StellarX decentralized exchange follows the model of the Robinhood crypto trading application which allows its users to invest in different US stock markets. On that occasion, it was reported that the first batch of users would enjoy zero commissions on the purchase and sale of Bitcoin (BTC) and Ethereum (ETH).

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Crypto News

Facebook Denies The Partnership With Stellar (XLM) For Implementing Joint Projects

Contradictory information about the possible partnership between Facebook and the Stellar (XLM) project team was published in the media on August 10th. Shortly after the publication, on the Business Insider portal, of unofficial information that Facebook was meeting with the Stellar project’s team to work together, a statement emerged from a Facebook spokesperson who denied the news.

The information published by Business Insider also came from an unidentified spokesperson who claimed that the Facebook team, led by David Marcus, was in discussions with the open source payment technology company, Stellar, to explore the likelihood of entering the field of finance and banking transactions, taking advantage of the new technology.

Thus, according to comments from the source, the social network would plan to register payment transactions on a platform like Stellar (XLM), to which merchants could connect.

Facebook denied the information, according to an unidentified spokesperson from the social network’s part, who also added that after the publication of the Business Insider report, the price of Stellar (XLM) token surged by approximately 10% on Binance.

Facebook denied the partnership with Stellar (XLM) team, but it manages a blockchain technology team

The news about the potential partnership between Facebook and Stellar (XLM) coincided with the announcement that the research leader of the Facebook blockchain team, David Marcus, is leaving his position on the board of directors of the Coinbase exchange house to devote himself full-time to the project of the company led by Mark Zuckerberg.

Marcus is the former director of Messenger and has been leading a small technology development team on Facebook since last May. On this point, some commented that the decision to leave Coinbase might be due to the need to avoid a conflict of interest between the two companies.

At the same time, the Facebook blockchain team has been consolidating itself in recent months, by the incorporation of personnel trained in the area, among them Evan Chang, appointed director of blockchain engineering last July.

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Crypto News

Stellar (XLM), Cardano (ADA), And OmiseGO (OMG) Skyrocketed Thanks To Good News

The cryptocurrencies market showed yesterday a general increase that has led to different altcoins such as Stellar (XLM), Cardano (ADA), and OmiseGO (OMG), to score significant gains. The total crypto market reached a value of more than $296 billion on Wednesday, according to CoinMarketCap.

In order to know the causes that are generating this behavior, two types of factors come into play. The first is the global aspects of the ecosystem itself, which include the good times the market is experiencing and the momentum it has taken over the past few days. The second relates to each particular crypto and the announcements that have been made over the past week that have had a positive impact.

Stellar (XLM) is Sharia-approved

Stellar (XLM), the sixth most valuable currency by market capitalization received a certification on Tuesday to use DLT technology in Islamic financial institutions. The trading volumes in the hours following the announcement were over $200 million, which led to a rise of 27% in XLM price. However, at the time of this writing, Stellar (XLM) trades at $0.30, scoring a 1.56% increase in the last 24 hours.

Cardano (ADA) might get on Coinbase

The market’s momentum also boosted Cardano (ADA), which experienced a 13% jump on Wednesday, although it already shows a slight correction, and is now trading at $0.18 increasing by about 2.1% in the last 24 hours.

The increase, which is still going on, could be due to Coinbase’s announcement that it is considering adding Cardano (ADA) to its platform, along with Zcash (ZEC), Stellar (XLM), Basic Attention Token (BAT), and 0x (ZRX).

OmiseGO (OMG) teamed up with McDonald’s in Thailand

In the case of OmiseGO, which rose 5% yesterday, the cause of its rise could be the announcement made by the CEO of McDonald’s in Thailand, Hester Chew, who talked about the successful conclusion of the partnership with the OmiseGO platform. The performance of this currency has been very uneven over the last day and is currently showing a slight correction.

As you may recall, McDonald’s subsidiary in Thailand reached an agreement last September establishing the use of the cryptocurrency payment service provided by OmiseGO.

OMG is now trading at $8.04, dropping by about 1% in the last 24 hours.

In short, yesterday, only good news surrounded a few of the most appreciated altcoins in the cryptocurrency market, including Stellar (XLM) and Cardano (ADA).

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Crypto

Bitfinex Cryptocurrency Exchange Has Just Listed Verge (XVG) And Stellar (XLM)

Bitfinex, the world’s biggest and best-known cryptocurrency exchange, recently reported the introduction of Verge (XVG) and Stellar (XLM) to its exchange platform. While the deposits in both new additions were accepted already, exchanges commenced today at 11:30 AM UTC.

From now on, XVG and XLM can be exchanged to the other major available cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), as well as to fiat money, which includes USD, EUR, JPY, and GBP, on the Bitfinex exchange.

Trade is now live for XLM and XVG. Both pairs can be traded against BTC, ETH, USD, EUR, GBP & JPY.

Bitfinex, on its official Twitter page

Bitfinex has been established in 2012 and has served as the largest Bitcoin exchange network since that time. This was created by taking into consideration the increasing demand for cryptocurrency services.

Verge (XVG) and Stellar (XLM) addition to Bitfinex cryptocurrency exchange brings them among the elite crypto coins of the market

Crypto coins such as Bitcoin, Ethereum, EOS, Litecoin, Ripple, NEO, and Monero are available for exchange on Bitfinex platform. Via a p2p platform, it provides leveraged trading.

The Bitfinex site states that “margin trading and P2P financing will be enabled gradually as the order book develops liquidity”. This type of trading allows a person to purchase more equity as one can either borrow funds or obtain a loan through a broker to trade the desired cryptocurrency or fiat money asset on Bitfinex.

Over the past day, before the announcement regarding Verge (XVG) and Stellar (XLM) listing on Bitfinex cryptocurrency exchange, the XLM value against the USD soared by about 3.7% to $0.44, while XVG gained about 23% reaching to $0.08. At the moment of this article, XLM is at the $0.43 level, decreasing slightly, while XVG trades at $0.079 increasing by 9.63% in the last 24 hours by slightly decreasing since the announcement has been made.

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