The Cryptocurrency space has been fast evolving since the market sky rocketed towards the end of 2017. One of the main topics that have since sparked much debate is how to regulate the digital assets. This is in order to avoid financial distress that might result from unforeseen crypto markets bubble. However, a couple of top 10 altcoins in market cap are doing fairly well in acquiring legitimate operation standards. Stellar Lumens (XLM) recently got legalized in Bangkok in accordance with the SEC regulations. The move will see XLM tokens operate in Thailand legally as from this month, a huge move for the crypto!
Trading pairs within this jurisdiction are analyzed and assessed by the SEC mainly by liquidity & consensus credibility. The Thai Securities Exchange expects to see an increase in the number of applicants seeking to operate ICO’s or coin exchanges in the near future. Additionally, brokerage firms and sole dealers will be required to acquire a license. This move aims at forming a common ground of operating guidelines in Thailand’s crypto arena.
Stellar (XLM) has shown great potential by qualifying this early into the legal area. It is among seven altcoins which are currently in use as ICO’s to be allowed as trading pairs. These include; Bitcoin, Litecoin, Ripple, Ethereum, Bitcoin Cash and Ethereum Classic.
YOVO is a pioneer crypto-based mobile network whose headquarters recently relocated to Malta. It is among the projects that have acknowledged Stellar network as an efficient platform for creation of financial products. The YOVO project has been consistent despite the high uncertainty within the coin markets hence making major milestones. By using the Stellar network, YOVO users are able to purchase the native tokens for the platform “YO”. This technology comes at a time where globalization of internet products seems to be catching up while blockchain is a perfect vehicle. Users can operate the YOVO platform from their phones as well as perform tasks like call or text through a virtual sim.
This business seems to have hit the markets just at the right time although probability of survival cannot be at a 100%. It will be interesting to watch the effect of this project in both crypto and within the Telco community who might have found new rivals. YOVO’s prospects are quite high given it has secured 20 million Euros to start business operations.
XLM Price Overview
The cryptocurrency is among the top 10 market cap cryptos right now with an impressive over $4.6 billion worth. However, the coin’s value against the dollar has been on a downwards trend for the past month losing slightly over 31%. This should not come as a shock especially with the known volatile nature of cryptocurrencies. Stellar only 46 months old has recorded an all-time high of $0.93 which it later dropped to trade at $0.2505 today. Its volatility within the past 30 days has been at 27% which is significantly lower that some of its peers at over 45%. This can be a good coin to HODL with the progress in acceptance it has been making although it remains risky than any bond or security asset.