StellarX Exchange Is Fully Open And Stellar (XLM) Could Surge
Stellar (XLM) could surge shortly and here’s why. It is the native token for the StellarX exchange, and usually, when a company behind the token achieves successful developments, this can also be mirrored in the digital asset’s price.
A lot of banks could become interested in XLM because of its possible price stabilization, and this would trigger less bearish and bullish price movements for handling cross-border transactions.
Such a thing could lead to increased adoption for XLM.
StellarX’s latest blog post shows the high potential of the exchange and the token as well.
“This week, we’re happy to say that StellarX is fully open.” Here are a few reasons for which Stellar could surge shortly.
Decentralized exchanges have lots of users
At the moment, the number of crypto holders in decentralized crypto exchanges is much bigger than the number of its centralized counterparts because of anonymity and privacy.
StellarX said that owners of the listed tokens in their platform could demand KYC from the token users, but, otherwise, there is no need for identification.
A lot of decentralized exchanges don’t flaunt the possibility to exchange crypto to fiat and vice-versa.
On the other hand, StellarX will allow users in the U.S. and more countries to fund their accounts with their bank accounts soon.
“Today, StellarX has a real fiat onramp, a first for a decentralized platform. If you have a U.S. bank account, you can deposit dollars directly, via ACH, right inside our app,” the announcement says.
Zero-fee decentralized exchange
The StellarX network will pay the fees for all transactions that will be made on the platform instead of users.
“Using StellarX, on the other hand, costs you nothing. We take no fees and, even above that, we refund all network costs, something no other decentralized exchange can match. All the while, you have sole control over your assets, so whenever there’s interest, it’s yours,” the Medium post announces.
For all these reasons, the success of StellarX exchange could trigger a price surge in XLM. You can read the complete blog post here.
At the moment, XLM is priced at $0.255166 on CoinMarketCap.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
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.