Stellar (XLM) is on the move today. It is up by over 10% at the time of writing. From a look at the charts, it could be headed higher. For instance, on the 12-hour charts, it has broken major resistance and held there, an indicator that its upside push in likely to sustain in the coming weeks. This is supported by the fact there is something big coming up on the 19th of this month. This is the date for the Money 2020 conference where Stellar and IBM will be well represented, as per the Money2020 website, as shown below.
“Money20/20 Asia is excited to announce the latest moonshot thinkers, Jesse Lund, IBM’s Head of Blockchain and Digital Currencies, alongside one of the leading Silicon Valley legends, Jed McCaleb, co-Founder of Stellar, Ripple and Mt Gox. Jed will reveal his predictions for blockchain development in 2019 and the use cases we should expect to see at scale in financial services in the next 1-3 years.”
This event is awaited with excitement because it could reveal some of the moves that Stellar and IBM will be making going forward through the IBM Blockchain world wire. IBM’s Jess Lund has already hinted that over 30-40 banks could start using this system in coming months. These announcements are likely to be confirmed during this event, hence the growing interest in Stellar (XLM) at the moment.
Beyond that, Stellar could be supported by an emerging trend in banking called open banking. Open banking is a system where banks use open source APIs to enable 3rd party developers to build innovative applications around financial institutions. They do this by making use of open source technologies. Over the last couple of years, governments, especially in the U.K and the EU, have passed regulations that favor open banking. One bank that the market could lead the way with open banking is HSBC. This bank has a long and strong relationship with IBM and there is a probability that they could use the stellar blockchain to issue digital assets. In such a scenario, there would be a likelihood of other banks following the trend in order to stay competitive. This would speed up the adoption of the stellar blockchain, and push up the value of Stellar (XLM), especially if banks choose to settle in XLM. This is a major bullish signal for Stellar, and could see the value of this crypto rise significantly in the course of the year.
Stellar’s rise in the face of banking adoption would also be boosted by the fact that it is trading at a massive discount from its all-time highs. This means that if investors feel confident that positive fundamentals are on the rise, there could be a huge rush to buy Stellar (XLM). Stellar is already pumping on the basis of speculation, which means if the news about banking adoption is confirmed, it could rise by a huge percentage. In essence, it is one of the best crypto investments to watch out for in 2019.