Coin of the day is Stellar
Stellar is an open-source protocol for value exchange founded in early 2014 by Jed McCaleb (creator of eDonkey) and Joyce Kim. The Stellar protocol is supported by a nonprofit organization, the Stellar Development Foundation. At the time of launch, Stellar was based on the Ripple protocol. After making several changes to critical consensus code, the Stellar network forked…
Latest news
Technicals
XLMBTC is showing an active growth since Jul 13, reaching 100-days EMA on Jul 15, and taking-off from the EMA to break Global Bearish Trend Line and 0.00004 level. For now, the bullish rally has stopped at the 0.0000425 resistance and probably will transit into a correction for a while. The main requirement, to preserve bullish view, is to stay above the Global Bearish Trend Line. Nearest resistive level on the way up is 0.000045 level; after breaking 0.000045, the price will meet 26% Fibonacci zone - the last frontier before setting new highs.
Stellar is an open-source protocol for value exchange founded in early 2014 by Jed McCaleb (creator of eDonkey) and Joyce Kim. The Stellar protocol is supported by a nonprofit organization, the Stellar Development Foundation. At the time of launch, Stellar was based on the Ripple protocol. After making several changes to critical consensus code, the Stellar network forked…
Latest news
- Jul 17 - Stellar becomes Sharia-Certified
Recently Stellar(XLM or STR) has been showing a noticeable growth, breaking from the stagnation tendency of the first half of 2018. The main news that accompanies the growth is certification of Stellar blockchain by the Shariyah Review Bureau (SRB).
For the Stellar ecosystem, obtaining a certificate means being able to expand in markets that require compliance with Islamic principles: in the countries of the Cooperation Council of the Arab States of the Persian Gulf (Bahrain, Kuwait, Saudi Arabia, Qatar, United Arab Emirates and Oman) and some countries in South-East Asia.
From Twitter: “Stellar is the first distributed ledger protocol to receive Sharia compliance certification in the money transfer and asset tokenization space.” By StellarOrg@
- Jul 18 - Stellar Partnership With IBM To Launch An FDIC Backed Crypto
A startup named Stronghold is making use of Stellar Blockchain technology to launch USD Anchor. This USD Anchor will make use of the Stellar Blockchain technology to verify transactions. Its token will be backed by Prime Trust, a Nevada trust company to the US dollars. This Trust company will in turn deposit money into all Federal Deposit Insurance Corps insured.
IBM reported that the New York City Based Signature Bank backed out from this collaboration as it was the first choice. IBM and Stronghold are partnering together to find out the various financial uses of the token. The head of IBMs blockchain services for financial institutions, Jesse Lund stated that the aim of the platform is for both Fiat money and digital money to be used as means for transactions on the blockchain platforms.
Stronghold is the security to the Stellar partnership network. The entire collaboration between Prime Trust bank and the FDIC with this IBM platform is a step in the right direction. Sewn Bennet, the co-founder of Stronghold stated that there is a need for growth in the management of digital and Fiat currency.
This project shows the various ways to make Fiat currency tokenized in order to perform fast transactions like cryptocurrency. IBM’s first use cases will center on across border transactions as well as small-scale foreign transactions. The coin is available to select institutional clients, but it will be available soon.
Technicals
XLMBTC is showing an active growth since Jul 13, reaching 100-days EMA on Jul 15, and taking-off from the EMA to break Global Bearish Trend Line and 0.00004 level. For now, the bullish rally has stopped at the 0.0000425 resistance and probably will transit into a correction for a while. The main requirement, to preserve bullish view, is to stay above the Global Bearish Trend Line. Nearest resistive level on the way up is 0.000045 level; after breaking 0.000045, the price will meet 26% Fibonacci zone - the last frontier before setting new highs.
