Uphold recently stirred up the Stellar Lumens (XLM) community with a post highlighting its positive developments.
Uphold drew attention to the Stellar Foundation’s partnerships with financial giants such as Mastercard and Franklin Templeton, and asked if these partnerships can help push XLM above the $0.1 level and create long-term success.
After struggling with the $0.090 level, XLM surged over 7% in the past week to its current price of $0.09699, with some resistance at the $0.1 level.
Are these Strategic Partnerships a Beacon of Hope?
The partnerships with Mastercard and Franklin Templeton were strategic milestones for Stellar Lumens. Mastercard’s involvement could enhance the usability of XLM in mainstream financial transactions, potentially increasing its adoption rate.
Franklin Templeton’s interest, in integrating blockchain technology into its asset management processes, lends further credibility to Stellar’s blockchain.
Such collaborations could indeed provide the much-needed boost for XLM, pushing it beyond the $0.10 threshold. Responding to Uphold’s post, one user stated, “I remember not too long ago when it was chilling at $0.12-$0.13,” and noted that 2024 had been a rough year for XLM.
However, with the recent surge, it is about to reclaim those levels and could climb further if it keeps its momentum.
Responses from the Community
These partnerships are promising, but the long-term success of XLM hinges on broader market dynamics and its adoption rate.
As one user pointed out, “These partnerships could enhance $XLM’s credibility and market use cases, potentially driving long-term growth.” The user believes the partnerships can help with the adoption rate, potentially driving sustained growth.
However, the announcement was also met with skepticism. Some critics argued that Stellar’s partnership with XLM dates back to 2019, questioning the novelty of the news.
However, Stellar announced a new partnership with MasterCard recently, planning to integrate the company’s Crypto Credential solution with the Stellar network.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Competition and Market Perception
The cryptocurrency landscape is fiercely competitive, and XLM is often compared to XRP, another digital asset with similar use cases. The XRP community was vocal about XLM’s performance, with one user commenting, “XLM booms when XRP moves first,” suggesting that XLM’s success would not come until XRP begins climbing.
Notably, both assets have historically shown significant correlation, and if these partnerships help XLM grow, XRP might benefit from it. However, only time will tell if XLM can maintain its momentum.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on Twitter, Facebook, Telegram, and Google News
