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Stellar Lumens [XLM] poised for a comeback after BACE’s addition of XLM and new wallet update!

Sthuthie Murthy

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Stellar Lumens [XLM] making its comeback!
Source: Pixabay

With the never-ending competition in the crypto market and the addition of new coins and tokens almost every day, it is not a cake walk to stand out from the rest. Almost 1800 digital coins are vying with each other for a decent market capitalization. XLM, currently holds $6.6 billion worth of market capital. It is one among the top 10 coins in the global market.

In 2014, when Jed McCaleb and Joyce Kim introduced Stellar to the market, the sole purpose was to provide an efficient money exchange protocol, which now has become a stand out feature of this coin.

Jed McCaleb, the co-founder of Stellar Development Foundation recently spoke at an event at Tel Aviv about how the payments look like will look like.

Event attendee Hasan Noman tweeted:

“You’re a true JEDi Knight!!! Can’t wait to see you and the spectacular Stellar team shake up the Cryptosphere as we know it today :-)”

Noah Barton, an XLM believer, and invertor commented:

“Worldwide cryptocurrency Stellar [xlm]. The future is here :-)”

XLM had exhibited significant upsurges in the general turmoil of drastic falls, scams, and hacks as observed at the end of last year. 

The open-source protocol for quick transactions was designed in an intelligent manner. The internal architecture comprises of multiple layers that run a software while connecting other XLM servers via the internet. This is how the exchange is accessible to all traders across the globe.

Every individual’s account is held in the database called a ledger. Lumens popularity are spreading rapidly because of the efficient global network, low costs, lightning fast speed, and QOS. Decentralization is brought about with the effortless integration of The Stellar Consensus Protocol (SCP) with the Federated Byzantine Agreement (FBA).

Listing in BACE Exchange:

BACE Exchange provides a fiat market and an easy trading platform for the investors to trade directly between cryptocurrencies and fiat. Recently, an announcement was made about XLM getting listed in BACE.

BACE recently tweeted:

BACE Official Twitter Handle

BACE Official Twitter Handle

XLM has also partnered with many mainstream companies like IBM and KickEx and according to many crypto-connoisseurs, it might have strengthened this coin.

Stellarport:



Stellarport, a cryptocurrency exchange, with a unique feature that ensures immediate trading tokenized from ICOs was created by the same team that invented XLM. They use hardware wallets for transactions within a lightning speed of 5 to 10 seconds.

Ameil, an XLM enthusiast tweeted:

“That volume is really something! great job Stellar port I am just curious how does a coin or token listed in port? because I want my favourite crypto coins/tokens be listed as well. Do they need to apply, compatibility will be an issue as well?”





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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

Altcoins

FLiK case: Utility tokens take another hit in case allegedly involving Rapper TI, claims prominent lawyer

Priya

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Source: Unsplash

Stephen Palley, a prominent lawyer at Anderson Kill, spoke out about the FLiK token case via his official Twitter handle. Notably, unlike most tokens in the space, FLiK made headlines because of its celebrity backing.

Towards the end of last year, it was reported that the US Rapper Clifford Joseph Harris Jr., who goes by the stage name T.I. and T.I.P., was sued for $5 million over the alleged failure of the token promoted by him and his partner, Ray Felton. The rapper was being sued by a group of 25 individuals who claimed that that they invested around $1.3 million in the tokens.

Additionally, there were allegations that the rapper used the raised money to increase the token’s value, following which the duo sold their holdings after the coin crashed. Other well-renowned celebrities such as Kevin Hart and Mark Cuban were also reportedly associated with this project.

On the recent developments surrounding the case, Stephen Palley stated,



“Utility tokens” take another hit in case allegedly involving rapper TI. Court says FLiK ICO tokens = securities under Howey Test, for motion to dismiss purposes. That they offered some functionality ≠ relevant given buyers’ expect of profits solely from efforts of others. 1/4″

Source: Twitter

Source: Twitter

Source: Twitter
The lawyer further stated that,”use of funds” was already determined by the defendants, “per the FLiK token whitepaper.” He went on to state that there was a time problem, adding that Federal Law rules that “unregistered sale” of security tokens were supposed to be reported within 12 months after the violation.

The lawyer concluded by tweeting,

“ps — form was never going to be exalted over substance, so none of this is a huge surprise. Also, this is a ruling on Rule 12(b)(6) motion to dismiss so the Court takes the allegations as true for purposes of ruling. The merits still have to be litigated.”





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