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Stellar Price Retakes $0.65 as all Markets Show Signs of Recovery

Most cryptocurrency enthusiasts were surprised to see Stellar in the cryptocurrency top 10 ranked by market cap at the end of 2017. A lot of people ignore currencies which won’t net them quick profits or don’t serve their specific cause. Even so, the Stellar price has successfully surpassed $0.50 last year. Fast forward to today, and the Stellar price surpassed $0.65 again. An interesting bounce back after a very difficult week.

Stellar Price Seems to Follow XRP’s Momentum

If there are two digital assets unlike any cryptocurrency existence today, it has to be XRP and XLM. The latter is also known as Stellar Lumens, another asset designed to transform the financial sector into a more modern version. Cryptocurrency speculators have kept a close eye on the Stellar price ever since the value hit $0.10. Over the past few weeks, that value has risen gradually, despite some major market opposition due to Bitcoin’s struggles.

At its peak, the Stellar price went as high as $0.91. Quite a steep value for an asset which was worth less than $0.20 in early December of 2017. The entire ecosystem has seen multiple currencies and assets explode in value over the past few months. Unfortunately, the Stellar price also hinges son how Bitcoin evolves in the price department. Given the world’s leading cryptocurrency’s struggles, it is not surprising to see Stellar drop to $0.44 earlier this week.

Ever since that time, we have seen the Stellar price mount a somewhat strong comeback. Although it has been a bumpy ride these past few days, we now have a Stellar price of $0.65 once again. It is still too early to speak of reaching a new all-time high in the near future, but anything is possible at this stage. It is uncanny how both the Stellar price and XRP price tend to go up at the same time, even though they are two separate projects which share a similar goal.

With just $439.82m in 24-hour trading volume, things are not looking overly impressive for Stellar right now. In fact, this digital asset has noted a volume of over $1bn per day not that long ago. Then again, the cryptocurrency and digital asset markets are still reeling, as a lot of damage has been caused by the media spreading fake information regarding South Korean exchanges. For now, things are slowly heading back in the right direction, but we are not out of the woods just yet.

Binance is the leading trading platform for Stellar volume as of right now. They are nearly $30m ahead of Bittrex, and $54m ahead of Poloniex. It is evident there is no fiat currency market for Stellar in the entire top five right now. The first platform which fiat currency support is Bitcoin Indonesia in sixth place. Considering how Kraken is still down for maintenance, it is only normal Bitcoin becomes Stellar’s main trading pair for now.

Stellar price speculation serves no real purpose with the market sin their current state. All of the gains noted overnight can easily be wiped out in an hour or two. We can only hope to cryptocurrency and digital asset market is finally returning to normal and things stay stable for longer than a few hours. If that is the case, the Stellar price may very well hit $0.75 before the week is over. For now, trading with caution is the best advice anyone can give you.

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Russia, Norway and Japan Have Embraced Bitcoin in 2017

Bitcoin, which was first launched in January 2009 has surpassed all expectations in 2017. Its value started the year on shaky ground, going up and down on a daily basis. But for a few months, the price has been making headline news as it rose well above what anyone predicted. No one could have foreseen the price of Bitcoin would reach $20,000 in less than 12 months, and all estimates made earlier in the year were for half this amount. In 2009, one could buy 5,000 Bitcoin for $27 and will have made a very nice profit if they had kept them. ‘Bitcoin’ – Zach Copley via Flickr (CC BY 2.0) 2017 Landmarks Bitcoin is becoming more and more accepted as a currency by governments and organisations, with nearly 6 million users worldwide. Along with its huge growth in users and value, there have been several landmarks for this digital money in 2017, including: Japan making Bitcoin a legal currency for savings and transactions. This has increased the country’s use of it a great deal, and now some Japanese employers partly pay their staff in Bitcoin. Russia announced it would legitimize the use of cryptocurrencies, including Bitcoin. Initially, they were concerned that Bitcoin was a danger to its economy and were considering laws that would have made it illegal to use. Now they are embracing it. Norway’s largest online bank, Skandiabanken, integrated Bitcoin accounts. It began publicly trading on the CBOE Futures Exchange. Bitcoin futures rose by 26 percent very quickly and the market had to be halted twice to give it chance to calm. The Bitcoin symbol was encoded in Unicode version 10. There have been other exciting ventures associated with Bitcoin, including the launch of the first Bitcoin Lotto. It allows prizes to be paid out in Bitcoin, which depending on the exchange rate can increase the winning’s value tremendously. Those with Bitcoin wallet will have a much better time as deposits and withdrawals in cryptocurrency is instant on the platform. The Lottoland jackpot stands at 1055 BTC at the moment, which is a small fortune. Photo: Lottoland The Future of Bitcoin What does the future hold for Bitcoin? That is difficult to predict. Certainly, it looks as though some of the countries such as India, Pakistan, Bangladesh, and Indonesia where Bitcoin trading is not allowed will remove those barriers over the next few years, and that can only help its growth. There are other cryptocurrencies that would love to take the top slot (such as Litecoin and Ethereum) and are working hard towards it. Could it be that it is the maximum limit to Bitcoin supply that is driving people to hold on to the digital currency and explore other cryptocurrencies, jumping into the altcoin bandwagon and getting more retailers to accept cryptocurrency payments. It is all an unknown that only time will tell, but just like with currencies of all countries, dealings will happen in whichever is the most profitable, and for the time being at least, that is Bitcoin. The post Russia, Norway and Japan Have Embraced Bitcoin in 2017 appeared first on NewsBTC.

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