Sparkling News Pile Up for Stellar (XLM), Price Still Relatively Low
Stellar (XLM) keeps adding projects and exchanges, but its prices continue the long-term slide.
The price of Stellar (XLM) still warrants position 8 on CoinMarketCap. However, the asset sank below $0.30 before recovering slightly. But the next big story for XLM is the opportunity to trade directly against fiat.
Stellar was recently added to eToro, but that type of trading does not require holding the asset, only betting against its price. At the moment, the sentiment for XLM on eToro is 100% buying recommendation, with prices ranging between $0.30 and $0.31.
The listing on the Swiss BACE exchange recalls the move of Vertcoin (VTC), which started to build its own fiat on-ramp for direct buying. Trading against BTC depresses prices, but if an asset has an independent economy and exchange, the price may move by a different logic.
Additionally, services like Stronghold offer a small-scale exchange for buying Stellar through other digital assets. The FairX project aims to bring fiat buying to Stellar.
With exchanges quickly filling up with new assets, some leading coins resort to building proprietary exchanges. Stellar, of course, has its DEX market almost from the beginning, but now third parties are starting to use the platform for exchange services. There is also Stellarport for additional services.
One Reddit user also built an app for merchants, assisting with exchange rates and liquidation for several crypto assets, among them XLM.
As the crypto markets slumped, the Mobius ICO (MOBI) enters the stage at which the price unravels from the initial hype. MOBI is thinly traded, to the equivalent of 15 BTC in 24 hours.
After trading was officially launched on March 5, MOBI slid from $0.15 to current prices of $0.10, after a short-lived pump in the past days.
But right now, the Mobius Network ICO is making the rounds in Japan, as well as other Asian countries, and the future may see the token appreciate more. MOBI had more troubles with US investors, blocking buyers from six states: Washington, Vermont, Connecticut, New York, Alabama, and Hawaii. The reason for this were overly-strict AML requirements that would bloat the costs of the project.
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