The Stellar development foundation has been selected by the Monetary Authority of Singapore to develop and showcase its Central Bank Digital Currency solutions. According to crypto analyst Ekta Mourya, Stellar’s move to altcoin NFTs via Livemint is likely to fuel the bullish reversal narrative. For details of the news cryptocoin.com keep reading.
Analysts expect altcoin project to make a comeback
The decentralized protocol Stellar finds its utility as a cross-border payment solution. XLM, the native cryptocurrency of the blockchain network, therefore competes with global giants like Ripple’s XRP. Fans criticize the altcoin project for not taking advantage of the latest crypto trends.
The Ethereum ecosystem pioneered digital art and collectibles through CryptoPunks, one of their earliest projects with 10,000 pixels and a unique face collection. Since then, NFTs have evolved over several layer 2 scaling solutions and Blockchain networks. Stellar has recently joined the non-Fungible token trend with the launch of Litemint, a digital collectible and NFT marketplace. He made the following announcement on Twitter:
It’s really exciting to see more artists and creators worldwide taking advantage of Stellar’s low fees to join the emerging creative economies! Congratulations on LitemintHQ providing a platform that everyone can access!
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
Livemint offers relatively low-cost mintage and the process only takes a few seconds. According to analyst Ekta Mourya, the relatively low investment and time will encourage creators to join Litemint and in turn increase demand for Stellar Network’s altcoin XLM.
Famous crypto trader predicts 30% climb in XLM/BTC pair
The Stellar Development Foundation (SDF), a nonprofit that supports the growth of Stellar, was recently selected by the Monetary Authority of Singapore (MAS) to create and showcase Central Bank Digital Currency (CBDC) solutions. This is considered a bullish development for the altcoin.
Interestingly, Stellar Blockchain has been featured in top projects based on average daily development activities on Github alongside Cardano, Chainlink, and other altcoin projects. Ekta Mourya says updates to Stellar’s ecosystem are likely to have triggered a bullish outlook among traders and NFT holders. Cryptocurrency trader and analyst Pentosh1, using the pseudonym, predicts a 30% uptrend for the XLM/BTC pair:
Double dip and IHS forming. I think this is fine for a roughly 30% switch to 10xx. The volume was also built. The USD pair is also shown. Many altcoins look good like this
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.