- Stellar has moved into the non-fungible token trend with the launch of Litemint
- Stellar identifies its utility as a cross-border payment solution.
- XLM will compete with XRP and ETH.
- XLM price might reach a new all-time high (ATH) soon.
Stellar’s move into the non-fungible token (NFTs) through Livemint provides a bullish price reversal of XLM coin.
Stellar Current Market Status
Currently, Stellar holds 25th place on CoinMarketCap. Moreover, Stellar (XLM) price trades at $0.3349 with a 24-hour trading volume of $528,761,993, at the time of writing.
The XLM coin is available on crypto exchanges such as Binance, OKEx, FTX, CoinTiger, and Huobi Global. If the bullish trend continues, the XLM price can reach a new all-time high (ATH) soon.
XLM Competes With ETH and XRP
Decentralized protocol Stellar identifies its utility as a cross-border payment solution. Moreover, the blockchain network’s native asset XLM will compete with Ripple (XRP). Moreover, the proponents have accused altcoin for lack of exposure to the recent crypto trends.
More so, the Ethereum ecosystem pioneers digital art and collectibles via one of its oldest projects CryptoPunks. Notably, CryptoPunks is a collection of 10k pixelated and unique faces. In addition, NFTs have evolved many layer 2 scaling solutions and blockchain networks.
Recently, Stellar has moved into the non-fungible token trend with the launch of Litemint.
It’s truly exciting to see more artists and creators around the world take advantage of Stellar’s low fees to participate in the new emerging creative economies! Congratulations @LitemintHQ for providing a platform that’s accessible to everyone! https://t.co/Yu0DjECCq6
— Stellar (@StellarOrg) September 5, 2021
In fact, Livemint provides relatively low cost minting which takes only a few seconds. Moreover, the low investment and time involved will enhance creators to join Litemint. In turn, boosting the Stellar Network’s demand as XLM asset.
In addition, Stellar development foundation (SDF) was selected recently by the Monetary Authority of Singapore (MAS) for creating and showcasing Central Bank Digital Currency (CBDC) solutions. Notably, this is considered as a bullish development for the altcoin.
Furthermore, the Stellar blockchain has created top projects related to average daily development activity on Github alongwith Cardano, Chainlink, and other altcoins. All-in-all, the update in the Stellar ecosystem likely triggers a bullish outlook among traders and NFT holders.
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