Stellar is one of the few currencies that has thus far avoided being dragged down by any immediate market correction, or, moreover, what now seems to be a market value decline as a result of a Mt. Gox coin dump. Either way, Stellar has remained a strong figure over the past couple of days, not flinching in a market that up until this morning, looked quite withdrawn overall.
How is Stellar doing at the moment?
At the time of writing, Stellar is valued at $0.416 and is up 11.27%. Let’s consider that few currencies are up by double figures at the moment, therefore this is significant. Over the past couple of days whilst the markets have been in decline, Stellar has managed to move from $0.331 up to $0.425, after a small decline to our current values, it seems that Stellars progress cannot be halted, as the value of the currency seemingly keeps rising and rising.
“Once the MobileCoin network is launched, users will be able to… https://t.co/STWzck05bB
— Stellar Lumens (@StellarLumens) 27 April 2018
Could this tweet tell us what is going on?
The MobileCoin ICO has just ended, the network uses the ‘Stellar Consensus Protocol’ to facilitate mobile payments. Backed by Binance, MobileCoin has made headlines recently. Now moving away from MobileCoin specifically, and back to Stellar, the star of the show, this is why Hacked.com believe this event has set Stellar on a great trajectory:
“Stellar’s integration with MobileCoin is significant for several reasons. For starters, it gives Stellar a foothold in the mobile payment market at a time when more blockchain-based startups are looking to disrupt the space. This means Stellar could become the bridge for users looking to use blockchain solutions to send and receive money through instant messaging services.
Secondly, Stellar is already positioning itself as a possible launchpad for initial coin offerings. Although MOBL is not a Stellar-based project, integration with SCP suggests companies are attracted to the platform’s speed and scalability. While Ethereum is the undisputed king of the ICO market, Stellar has put forward favorable solutions for overcoming the so-called gas problem.”
The latter justification, Stellar as a launchpad for ICO’s is especially important. In a sphere that views ICO’s as often poisonous and rather risky, perhaps Stellar now has the opportunity to clean up the system. They can’t implement regulations but, by adjusting their network they could provide new coin buyers with an air of safety and a guarantee.
This is speculation of course, this might not be something they are interested in, but indeed, it could help bolster Stellars reputation even further.
This aside, Stellar has made great progression this week, if progression continues and, if the market gets picked up by a second bull run, we could very well see Stellar reach $1.00.
Obviously, this depends on the climate being perfect and it also depends on the size of the bull run, if it does happen though, Stellar will have something to celebrate going into the weekend.
Featured Image Original Source: Pixabay