Stellar’s native token XLM is one of the few that has been able to keep on its toes and make sure it stays in the green over the past week. Being able to gain over 6.40% within the last 24 hours has put XLM at 1.87% despite some of their competitors being on the double digit negative.
XRP is the third biggest cryptocurrency and has recently faced a increase in competition in the crypto space of cross border payments. Stellar has now teamed up with IBM who is an increasingly bigger player in ‘the race to create the most cost-effective, widely adopted cryptocurrency’ on a worldwide scale.
Several followers of the third best crypto, XRP, have noticed that the price of XLM is slowly catching up to it with the latest introductions acquisition of Chain and cross border payments with IBM. The minds behind the team are always looking to evolve and constantly improve the coin to make it the most promising out there to choose from.
The lighthearted rivalry between the two companies goes quite far back. After selling the infamous Mt. Gox exchange, Jed McCaleb changes his digital currency efforts to creating a new currency. Classed as the ‘ripple protocol’, McCaleb looked to grow a transactionary cryptocurrency that completed blockchain consensus by members on the network. With this, Ripple was born and this led to the creation of their main token XRP. After this, McCaleb cut all its connections with the business which led to the creation of the Stellar foundation and thus the XLM coin.
With today’s performance, it’s easy to see that the acquisition of CHain by Lightyear has raised the bar a little bit for XLM. The end goal is for Chain and Lightyear to eventually become Interstellar.