Stellar Lumens (XLM) price Surge Following Coinbase Listing and Tempo Partnership
Following the announcement of Coinbase intentions to pursue Stellar Lumens and to look into making this coin a part of its fiat-to-crypto portfolio. This has both given XLM added validity in the crypto community and knocked its biggest competitor, XRP, a couple of notches down.
Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX). https://t.co/qoECyR0V1f
— Coinbase (@coinbase) 13 July 2018
Stellar Lumens is currently the 7th largest coin with a total market value over $4B and average daily trading volume about $50 million and is trading at $0.219 according to coinmarketcap.com.
With the announcement of Coinbase pursuing Stellar Lumens and Cardano’s ADA, the void for a high supply, low priced cryptocurrency will have been filled ahead of a potential XRP listing.
Stellar Network recently announced their collaboration with one of the world’s most popular money transferring companies called Tempo.
The two entities will be working together to create a new cryptocurrency payment network. Tempo wants to establish itself as the leader in this upcoming industry and a partnership with Stellar will definitely help.
XLM will be used as the base currency for its payment network, which will be able to process 600,000 transactions for a fee as low as $0.01.
President of Tempo, Jeff Phaneuf said:
“The existing Tempo remittance network allows Tempo to offer a quick cash-out process in multiple countries. We are now expanding to offer the easiest, fastest and most secure bridge between cash and crypto.”
Tempo will also offer designated fiat backers that will allow users to directly transfer fiat for crypto and vice versa with almost no fees involved.
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