Stellar (XLM) Has Everything It Needs To Reach $1 Very Soon
There are some cryptocurrency exchanges that use their own cryptocurrencies to pay the gas fees for their operations. In this regard, Binance with its Binance Coin (BNB) is one excellent example. However, there is another great one in the name of StellarX which uses Stellar (XLM) as its underlying crypto token.
As Stellar (XLM) is the native cryptocurrency of StellarX crypto trading platform, this would make it possible for higher XLM trading volumes which might also boost the Stellar (XLM) price to $1 very soon.
While higher trading volumes for XLM might indeed boost this asset’s price, there are some other reasons why Stellar (XLM) might go bullish very soon. One of these is the increased interest of banks and financial institutions in the Stellar crypto token and its underlying blockchain which, as opposed to the Ripple’s XRP (XRP), is more stable and with fewer bearish trends.
The recent announcement of the StellarX decentralized exchange could boost Stellar (XLM) towards higher grounds.
Stellar (XLM) might reach $1 thanks to StellarX decentralized cryptocurrency exchange
Increasingly more crypto holders move to decentralized exchanges because of their anonymous form of operations. Also, StellarX is not asking of identification of its users but could demand KYC anytime when they suspect something.
Additionally, StellarX is offering crypto-to-fiat conversions which are not always accepted by decentralized exchanges, so more crypto holders might turn to this exchange to trade their cryptos against the US Dollar and other currencies.
Above all these, StellarX, operating with its native Stellar (XLM) cryptocurrencies, is the world’s first decentralized exchange to offer zero-fee trading. That’s definitely one of the most critical aspects for crypto holders.
Nonetheless, StellarX provides support for other crypto tokens, as well, such as those created on Ethereum and NEO platforms.
While many can happen in the cryptocurrencies market, as we already know that, we believe Stellar (XLM) will very soon go bullish, a fact which could drive the XLM price towards $1.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.