Most cryptocurrencies were not spared in the last grizzly attack on the crypto market. Though not exactly left out of the price slump, Stellar Lumens (XLM) held on to its position in the top five market cap rankings.
Much of the token’s valuation has been noted to have risen due to the surge of interest in the coin. Analysts point out that the token’s current trading is a major signal that it is the bottom and is just what the token needs to break out and take on the next bull run.
As with the crypto market, there are a number of factors that could be the catalyst to the next bull run. One of this is the incorporation of stablecoin, AnchorUSD, on Stellar’s platform.
Incorporation of AnchorUSD to Facilitate Bull Run
With some of the issues face by the crypto sphere this year majorly regulations and price volatility, it is no news that investors are gradually turning to stablecoins. The fact that the Stellar Lumens project was basically developed as a blockchain project is an asset to the token and other ICOs.
This is because Stellar provides an interface for the exchange and launch of ICOs. As such, AnchorUSD (USDX) found a place on Stellar Blockchain. Recently announced by the stablecoin’s development team, the coin was created to circumvent the volatility faced by unbanked cryptocurrencies.
According to the team, the USDX’s platform had been updated such that Stellar Lumens can be purchased using AnchorUSD. The team announced that StellarX, an exchange developed to promote interaction with Stellar marketplace, will be incorporating the stablecoin.
StellarX allows customers the opportunity to buy coins with fiat currencies on their platform. The exchange also allows withdrawal of coins via the websites of third-party providers. This is made possible because all the assets that can be traded on the platform are tethered assets traded via these third-party providers.
Stellar’s Mainnet Lightning Network
Stellar’s plan to integrate its off-chain payment network is just another factor needed by the blockchain network to kick off its next bull run. Stellar had earlier announced that it would be integrating its lightning network in December.
The lightning network is majorly structured to handle and process transactions at faster rates and in larger scales. Hence, if established as a payment channel, mass adoption could be easily achieved.