With the increasing attention focusing on the digital coins, NASDAQ is poised to enter in to crypto-trading in the very soon. The news has been met with mixed reactions with crypto enthusiasts eagerly waiting to see how it plays. Stellar lumens (XLM) is set to be among the first coins to be supported by NASDAQ.
The stock market exchange seems to have all the confidence in the market despite the uncertainty surrounding it. The widespread decline has eroded investor trust slowing down activities and adoption. However, NASDAQ choice for Stellar is based in its robust infrastructure, past performance, the team behind it and the partners in the house.
Why the Stellar lumens is getting NASDAQ Support
NASDAQ is a floorless stock exchange that is overly controlled by brokers and dealers. This is among the most respected stock exchanges in the US and is trying to reposition itself to tap into the digital currency market “boom” and the markets future potential. Supporting a solid coin like Stellar appears to the best market entry point for the giant respected stock exchange.
Stellar (XLM) has transformed in a very short and grown to become an investor hub. Its real world usability and XLM price are some of the reasons why it is growing in popularity. The coin is also being supported by several exchanges and the volumes have been quite impressive.
Stellar Partnerships and NASDAQ Interests
Partnerships are on the rise are a key drivers in the market and this is one reason why NASDAQ is eyeing the coin. Since last year December, Stellar has been building collaborations with major market players and this is surefire way of ensuring its future stability.
Since getting listed on one of Hong Kong’s exchange, OKEx, the coin has been on the rise. The coin has also partnered with IBM and the two are working on a system that will make cross-border trades easy, secure and fast. The two are supporting more than 7 fiat currencies including the New Zealand and Australian dollars and have so far dominated the South Pacific market.
Stellar collaboration with Deloitte and ICICI Bank are other strong point why it is NASDAQ natural choice. These are putting Stellar in the banking industry map where speed, transparency and security are major concerns with the traditional banking systems.
Stellar (XM) Scalability
With anticipated lighting network on the Stellar ecosystem, the future of the coin appears bright. The time it takes to perform cross border transactions has always been an issue with NASDAQ and Stellar has a solution for it. What’s more? In addition to fast transactions, the network offers the lowest fees in the market that ride on a robust secure outfit.
NASDAQ is looking for a platform that holds the key to future mass adoption. Stellar scalability prowess has not only impressed the stock exchange but other players in the massaging sector like Kin Foundation. Kin chose Stellar in order to achieve the scalability it lacked. Incredible speeds and unsurpassed efficiency are the coin strong points for any partnership.
Stellar (XLM) Standings in the Markets
The crypto market has been tough for all coins with many recording huge drops. However, this seems to be easing off with many coins and Altcoins in particular recording marginal gains. Stellar (XLM) is currently trading on the green and appears to be ready to start rebounding back.
For the last 24 hours XLM has marginally gained against the dollar by 4.44% to trade at $0.292218. It has also recorded some noticeable gains against BTC of 3.95%. This could be a short-term bullish outlook that can go either way during the correction period.
However, the NASDAQ support might soon turn things around for the sleeping giant and it is about time your stakes on XLM. The coin is below the $1 and set to surpass this by end of the year and buying now can guarantee better returns as more and more users and adopters continue shifting their bases to Stellar lumens (XLM).