The importance of a cryptocurrency exchange that is associated with a cryptocurrency or crypto token on such cryptocurrency exchange could not be overemphasised. The likes of Binance coin(BNB) Created by Binance Labs and used in payment of gas fees in the exchange is a good example.
StellarX is launched–free trades, fiat onramp, all kinds of tokens! Still lots to do. But here’s a look at where we are and where we’re going. https://t.co/BnHGwxD8E0
— StellarX (@stellarxhq) September 28, 2018
Since Stellar (XLM) is the native token for the StellarX exchange. This will play a huge roll in Higher trading volumes which is a very bullish movement that might drive the price of XLM to $1 Unexpectedly.
Banks could also start getting much interested in XLM than XRP because of its possible price stabilization which means less bearish and bullish price movements for handling cross-border payments on the blockchain which in then turns into more adoption of stellar lumen.
The recent announcement of StellarX decentralized exchange could make the price of Stellar Lumen to hit the moon. Some of the reasons why I hold this position since Stellar Lumen (XLM) will be used as it’s native token are:
1) Decentralized exchanges have more users: presently, the number of cryptocurrency holders in decentralized cryptocurrency exchanges is far greater than the number of it’s centralized counterparts because of it’s anonymous form of operation. There is no need for identification even though that StellarX said that owners of listed tokens in the platform could demand KYC from their token users.
2) Fiat services: many decentralized exchanges are not equipped with facilities that could aid in cryptocurrency to fiat conversion and vice versa. However, StellarX will enable users in US and come other countries like Nigeria, Europe, UK and Canada to fund the account with their bank account soon.
3) World’s First Zero-Fee Decentralized Exchange: this is recommendable and will attract more users since the StellarX network will pay the fees for all transactions in the platform instead of the users.
4) Supports other tokens: Other platforms that supports the creation of tokens like the tokens created in the ethereum blockchain and NEO platform could be listed there. This will give stellar lumen a high trading volume which will eventually lead to rise in it’s price.
From this four reasons, it could be seen that Stellar Lumen will definitely soon be heading for the bullish train, Do you think XLM will hit $1 in 2018 ? Let me know your price predictions in the comments.