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Stellar’s XLM Spikes 10 Percent As Coinbase Exposes It to New York Traders

  • Yuri Molchan
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    US-based Coinbase exchange has launched trading pairs with Stellar (XLM) and Chainlink (LINK) to New York traders, XLM outperforms the top 10 coins by surging 10 percent

Stellar’s XLM Spikes 10 Percent As Coinbase Exposes It to New York Traders
Cover image via www.123rf.com
Contents

Today, XLM coin of the Stellar blockchain has exceeded the top coins by value when it surged 10 percent. This coincided with a report from Coinbase saying that it has launched trading XLM and Chainlink (LINK) for New York investors.

Coinbase exposes XLM and LINK to New York traders

Earlier today, the major US-based Coinbase exchange tweeted that New York traders are now allowed to work with XLM and LINK. The exchange exposed these coins to its customers in other regions earlier this year, in March (XLM) and June (LINK).

New Yorkers can now trade and store these tokens both on Coinbase.com and on the company’s mobile apps on iOS and Android.

On this news, Stellar recorded a 10-percent surge and it keeps climbing, as per data from CoinMarketCap. Currently, XLM occupies spot #10 on CMC and is the best performing asset among the top coins.

Stellar Price 09/26/19
Image by CoinMarketCap

LINK is ranked 18 and at press time is trading at $1.72, showing a rise by 0.56 percent.

LINK Price 09/26/19
Image by CoinMarketCap

Chainlink’s LINK is based on the Ethereum network. The platform provides a connection between blockchain contracts with oracles that generate market data.

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XLM vs XRP

XLM is a rival of Ripple’s XRP, designed as a payment system for financial institutions and just like XRP, XLM is believed to be centralized.

One of Stellar’s founders is Jed McCaleb who keeps receiving payments from Ripple. As reported by U.Today recently, McCaleb received 100 mln XRP ($26,322,440) from Ripple – the transaction was spotted by Whale Alert.

This brought another wave of indignation from the XRP community, where many believe that Ripple prevents the coin’s price from rising by continuous XRP dumps.

Recently, XLM showed a massive rise by 40 percent which a few days later changed to a 12-percent drop due to whale activity on the crypto market.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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