Connect with us

Opinion

Stellar Lumens: Analysis for a HODL (or Non-HODL)

Published

on

2018 is off to a fast start for many coins, with the past couple of days being a thorn in an otherwise positive trend. Stellar Lumens was a coin that I have always been curious about. XRP was a marketing unicorn. It was perfectly palatable for the government, and it was designed to do things that were government friendly. The co-founder of XRP went on to found Stellar Lumens, a company that has a very similar system to Ripple, but a different marketing plan altogether. Let’s go into it.

Leadership

Jed McCaleb is the brains of this company. He was also the brainchild of Mt. Gox, the exchange that was tragically hacked after his departure. If we are talking about big guys in the industry, I don’t think we are going to find many more like this guy. He’s an American success story that also builds government friendly cryptocurrencies. I am hoping this is our Rocky Balboa, because we certainly need one in 2018. I haven’t seen many people step up to the plate and talking on behalf of blockchain, so I do believe the void is certainly open for these folks to join in. Garlinghouse is already the darling of CNBC, there is room for more!

Purpose

There are three in my opinion. They are first trying to get into the micropayment space with a rapid settlement software and ledger system. They are focusing on “banking the unbanked”. The costs for using their services are low, no matter what the amount that is being transacted. Sounds like a fork in Ripple! Oh, because it is. The vision is that holding lumens could be a way for people to store their money in something that isn’t a closet anymore. There are roughly 2B “unbanked” that could be considered a target market.

Compliance-focused. These guys want the banks to be able to use them! This is the McCaleb special sauce in my opinion. He is making sure that all of his stuff is always working with the powers that be, not against them. The network is set up for banks to plug themselves in, put in a clients money, and Lumens will spit it out the other side to anyone, anywhere, in any currency. Great middleman! Ripple is the institutional version, Lumens is the use case version. I believe this is why Jed left.

Lumens also built an excellent platform for design. If you want Raiden’s take, I think Mr. McCaleb saw that a platform is going to be a hell of a lot more important than a instrument of exchange. He has built a platform that is incredibly easy to design your own tokens on, that are so transparent that it can help you toe the line of the law. When the USA is just ramping up for their own regulations on ICOs, and you have Mr. McCaleb on the sideline with a  straight edge token maker, I think there could be some sweet music. I am not a tech person, so I will yield to others in it’s comparison to Ethereum. It has been advertised as a more advanced version of what is available. AKA, a newly paved road with custom car dealerships.

Competitors

Depends on which purpose. Personally, banking the unbanked is being worked on (and touted) by every cryptocurrency out there. They have debit cards, QR codes, CELL PHONES for it. There is a huge market for it, but the reason swaths of humanity are unbanked is because it is difficult to access basic services, including the education on cryptocurrency account set-up, payment and management. This is an “eventually” problem that will be solved. If this was the only part of this coin, I would move on. I am going to be leaving “banking the unbanked” up at the top. This doesn’t excite me. I am going to be talking about their near sighted solution cases moving forward.

The platform for creation is something I like very very much. I love when things can be worked on by entrepreneurs. When things are developed on a platform, their work is as good as being nailed into the walls of the block chain. I want to attract the most amount of smart people to use the coins I own, as their ingenuity in various forms will create a desire for the coin. Ethereum and NEO are the platforms I would say compete with Lumens right now.

Ethereum, which does have a Silicon Valley presence, has been around for quite some time, and the prospect of lightning is anyone’s guess as to effectiveness. I personally never bet against Ethereum, regardless of competitors. I just bet on all platforms.

NEO, “Chinese Ethereum,” is also an advanced platform that currently boasts the most robust way for developers to create. They have the best paint brushes at the moment, in this author’s very humble opinion. I don’t believe the NEO team is going to be focusing on the US ACO market just this moment (I could be wrong). I think NEO could very well be the advanced Chinese Lumens. No real need to deviate from that market for them…

Target Market 

This is the best target market anyone can ask for, and it is the reason I am writing about this coin. Business. High quality businesses that can transact in tokens quickly and compliantly for uses with every day transactions.

Let’s do an example: With Lumens I can have my bank send them USD, Lumens then encrypts that USD on XLM, and sends it off to the bank across the world in China. The bank gets that payment in Yuan, deposited directly to my friend. This target market is not being drooled over like it should. Decentralists will do their own thing, but for me USD is what puts gas in the tank. It will be that way. I want someone to play nice with my USD, and the keepers of my USD. Strong points to Lumens here.

Weaknesses

All friends of Raiden know I hate large supplies. This coin is designed for a specific use, and that use is certainly not being a $30,000 coin. 103B. That means it’s going to take a massive wave of adoption before we start seeing some price appreciation.

I want their vision to be a little more geared toward beating Ethereum. I think banking the unbanked will take significant amounts of time, and will require a lot of all hands on deck to get going. If we could shelf this goal for after we figure out whats going on with primary offerings in America, we may have more resources to speed up the process of such a noble goal.

Strengths

This is an American company solving an American problem. There are no hurdles to jump here! We have a gigantic market of investors/businesses that need a platform that they can begin to toy around with. If they can successfully offer tokens that will require payment in XLM, this is now a very good investment. This is the Ethereum Model, and look how well its doing from way up there.

Jed McCaleb. I think this darn guy is the one who saw the bureaucratic needle in the haystack and decided to jump in. The government friendly cryptos will always win over the anti-government cryptos. I am not going to the bonfire with those people, I want to make money this year. I have said this before. Americans want something simple, at their doorstep. This is beginning to sound like just that.

Technical Jargon 

  • Current Price 1/15/18- $.63
  • Current Supply- 17,890,569,956 XLM
  • Total Supply- 103,590,302,054 XLM
  • Market Cap- 11,447,227,515 USD
  • Market Cap Rank- 9

Partnerships

IBM. This is the big one. You may not know this, but IBM essentially controls every single corporate office in America. Their software, wiring, and hardware is what keeps most places up and running. IBM has used them for settlement, while they clear the transactions that they are doing thousands and thousands (and thousands) of. Baby steps partnership right now. However, this is already a working relationship. IBM is not a company to discount in the new wave of technology. Their technical infrastructure in American professional society is second to absolutely none. This partnership alone can tell you many things about Stellar Lumens. It is quite interesting IBM is also hiring Ethereum Developers.

Overall

I sold off some of the portions I had before the sell-off a week ago. It performed well for me, but I was going to be migrating back to my ETH. Now that I have done some real digging here, I love what this is. It is Jed McCaleb. I trust that man. I have no idea of his coding experience, or overall involvement in the nuts and bolts of any currency he has worked on behalf of. However, this man is preparing an American Noah’s Ark. This is the boat that he thinks everyone will get on, AND B2C BUSINESS OFF OF. The most important thing is the business part, hence the caps. If we are talking about a warming up ICO/ACO market in the United States, there is no better place to be apart of than a mass customization shop that can give you a filled out form to hand into the government. That hasn’t been mastered yet, even on the exchange side. I just really hope they focus on the platform first. Business comes first to set up their store fronts. People go shopping second. Lumens is a coin with customers and a lonely target market. I can’t think of that being a bad thing.

 

I am not recommending you buy XLM, or any of the currencies I have listed. You must look into each and every investment, and analyze all angles based on your savings and risk tolerance. A lot of people ask me thoughts on currencies. No currency is made for everyone. I would have to know income, savings, investment background, risk tolerance, and the list goes on. This is the reason why no one can ever recommend something to you through a long term price prediction. I want you to make money. I wish you the best of luck.


A look at the mountain range.

Disclaimer: The author holds investment positions in the cryptocurrencies discussed in this article. 

Image courtesy of Pexels and Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
11 votes, average: 4.82 out of 511 votes, average: 4.82 out of 511 votes, average: 4.82 out of 511 votes, average: 4.82 out of 511 votes, average: 4.82 out of 5 (11 votes, average: 4.82 out of 5)
You need to be a registered member to rate this.
Loading...

4.4 stars on average, based on 27 rated postsMythological God of Lightning. Cryptocurrency/Blockchain writer, evangelist, and friend. May the odds be ever in our favor.




Feedback or Requests?

Altcoins

Tron Price Analysis: TRX/USD Constructing a Head and Shoulders Pattern

Published

on

  • TRX/USD remains vulnerable to further downside, with eyes on the possible head and shoulders technical structure.
  • TRX/BTC bulls are having much difficulty breaking down huge area of supply.

TRX/USD Price Action

TRX/USD daily chart.

There has been little in terms of committed market direction. It appears that after the huge bull run, which was observed from mid-December until 10th January, the price is trying to find its feet again. The gains of that push higher were a chunky 180%, before quickly becoming unstable and losing some of that ground.

Head and Shoulders Pattern

TRX/USD head and shoulders formation, via daily chart.

A near-term ascending trend line can be observed via the daily chart. This could be forming a head and shoulders formation. The left shoulder and head have already been constructed, with attention on this possible right shoulder. It is currently moving back towards the trend line, acting as a neckline for the technical pattern. A breach could see a fast fall below the $0.020000 mark.

The next major area of support is seen at a demand zone, which tracks from $0.017500 down to $0.016000. TRX/USD last traded here on 20th December, when the bulls ran through this range, which at the time was acting as supply. At a worse case scenario, a failure of this zone holding will shift attention to the December low area, $0.011150.

TRX/BTC Bulls Cannot Break Down Big Supply Zone

TRX/BTC daily chart.

This trading week, the TRX/BTC bulls attempted on a few occasions,to break down heavy area of supply. It can be seen tracking from 0.00000700 up to 0.000007500. The price has not been convincingly breached since June 2018, a strong sign of the bearish trend gripping the market. Briefly on 10th January, an aggressive spike to the upside was observed, pushing above for a very short-time before the sellers piled in.

Weekly Chart

TRX/BTC weekly chart.

Looking via the weekly chart view, TRX/BTC has been pushing higher for the past three consecutive weeks, at the time of writing. Despite this run of gains, the technical picture does still somewhat express some vulnerabilities. The large upper wick produced during the week which commenced 7th January appears to be a bearish pin bar formation.

If this week fails to close in the green, it could suggest that a larger wave of selling pressure may materialize. Typically, the types of candlesticks described above tend to come ahead of downside pressure. In addition, then numerous rejections seen within the earlier detailed supply zone, stacks favorably for the bears.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.6 stars on average, based on 110 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




Feedback or Requests?

Continue Reading

Altcoins

Monero Price Analysis: Stronger Malware to Mine Monero; XMR/USD Has Room for Another Potential Squeeze South

Published

on

  • Researchers: a stronger malware has been uncovered, which can mine Monero.
  • XMR/USD price action remains stuck in a narrowing range, subject to an imminent breakout.

The XMR/USD price has seen some upside on Saturday, holding gains of around 3% towards the latter stages of the day. Despite the press higher from the bulls, a move which has been observed across the cryptocurrency market, vulnerabilities remain. Price action has been ranging for the past nine sessions. Once again, this isn’t specifically just XMR, as this type of behavior is witnessed across the board. The narrowing in play came after the steep drop that rippled across the market on 10th January.

Price action was initially well-supported to the upside by an ascending trend line, which was in play from 15th December. This at the time was a very promising recovery, as XMR/USD had gained as much as 55%. Unfortunately, however, the bulls were unable to break down supply heading into the $60 region and were eventually dealt a big hammer blow. On 10th January, the market bears forced a heavy breach to the downside, smashing through this support. The price had dropped a big double-digits, some 20%.

Stronger Malware Mining Monero (XMR)

There is a dangerous form of malware that can bypass being detected and mine Monero (XMR) on cloud-based servers. A recent notice was put out by Palo Alto Networks’ Unit 42, an intelligence team that specializes in cyber threats, regarding a Linux mining malware. This was detailed to have been developed by Rocke group, which has the ability uninstall cloud security products. It can do this to the likes of Alibaba Cloud and Tencent Cloud, to then illegally mine Monero on compromised machines.

The two researchers from Palo Alto Networks, Xingyu Jin and Claud Xiao, detailed the findings of their studies. Once the malware is downloaded, it takes administrative control to initially uninstall all cloud security products. Shortly after, it will then then transmit code that will mine the Monero (XMR). Further within their press release, they said, “To the best of our knowledge, this is the first malware family that developed the unique capability to target and remove cloud security products.”

Technical Review – XMR/USD

XMR/USD daily chart.

Given the current range block formation, eyes should be on the key near-term technical areas. Firstly, to the downside, $43, which is the lower part of the range. A breach here will likely see a retest of the December low, $38. To the upside, resistance be observed at around the mid $46 level. Should a breakout be observed here, then a potential retest of the broken trend line will be watched.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.6 stars on average, based on 110 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




Feedback or Requests?

Continue Reading

Altcoins

Litecoin Price Analysis: LTC/USD Bulls Enjoy Big Jump But Stubborn Resistance Capping Potential

Published

on

  • Litecoin sees a relief rally on Friday, but is still stuck within stubborn range-block.
  • LTC/USD price action has formed a bearish flag pattern structure, subject to a potential break lower.

The Litecoin price on Saturday was seen holding decent gains of over 5%, as life is kicked back into the bulls. The LTC/USD pair has been victim of trading within a stubborn daily $3 range. This very much being the case for the past nine trading sessions. It is a form of consolidation after the breach south from an ascending trend line. This had been supporting the price from 14th December 2018, up until the bears forced a breach on 10th January.

In light of the breakout below the above-mentioned trend line, a large wave of selling pressure came with that. LTC/USD plunged by as much as 25% to the lowest levels seen since the start of the month. The earlier described range-block formation has come as a result of the increased volatility that accompanied the break south. The high of the range should be noted at the $33 mark, with the lower support eyed down at the psychological $30 level.

Bear Flag

Given this type of price behavior from a technical standpoint, it appears to demonstrate some vulnerabilities to the downside. The calming and consolidating after an initial explosive drop lower to then potentially resume the selling pressure reflects this point. As can see from either the 4-hour or daily chart, price action has formed a bearish flag pattern. When the market fell from 9-10th January, this formed the pole of the bearish flag of the structure. The actual flag is currently being constructed, as part of the sideways trading being observed.

Lightening Network Trial Underway

As reported by the CCN team, Coingate, a cryptocurrency-based payments platform, has now executed a trial run of its Lightening Network via Litecoin.  The platform has partnered up with a privacy service provider, known as Surfshark for this pilot project. Within the partnership, the implementation of Lightening Network payment solution for Litecoin transactions is a big milestone for the cryptocurrency community.

Technical Review – LTC/USD

LTC/USD daily chart. A bearish flag structure can be seen.

As detailed earlier, a breakout from the range-block formation will be the next trend defining move. Should the bears manage to force a break below the lower support, tracking at $30, then a demand area below will be called into action. This can be observed tracking within the $28 price region, which is a known area to find buyers. A failure to do so could see LTC/USD drop back down towards $23-22 range.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.6 stars on average, based on 110 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




Feedback or Requests?

Continue Reading

Recent Posts

A part of CCN

Hacked.com is Neutral and Unbiased

Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

Trending