XLM competes with XRP and ETH for market share while analysts expect a comeback

  • Stellar’s first NFT marketplace Litemint is expected to increase on-chain activity in the network’s native cryptocurrency XLM.
  • Minting an NFT on Stellar costs nearly $1.5 and takes less than a minute, making it lucrative for creators and new projects. 
  • Stellar development foundation was chosen by the Monetary Authority of Singapore to develop and showcase Central Bank Digital Currency solutions. 

Stellar’s move into NFTs through Livemint is likely to fuel the narrative of a bullish trend reversal. 

XLM faces stiff competition from ETH2 and XRP, analysts expect the altcoin to make a comeback

Decentralized protocol Stellar finds its utility as a cross-border payments solution. The blockchain network’s native cryptocurrency XLM therefore competes with global giants such as Ripple’s XRP. 

Proponents have criticized the altcoin for lack of exposure to the latest crypto trends. 

The Ethereum ecosystem pioneered digital art and collectibles, through one of its oldest projects CryptoPunks, a collection of 10,000 pixelated and unique faces. Since then, NFTs have evolved on several layer 2 scaling solutions and blockchain networks.

Stellar has jumped on the Non-fungible token trend recently, with the launch of Litemint, a digital collectibles and NFT marketplace. 

Livemint offers relatively low cost minting and takes only a few seconds. The relatively low investment and time involved is likely to incentivize creators to join Litemint, in turn boosting the demand for Stellar Network’s asset XLM

Stellar development foundation (SDF), a non-profit organization that supports the growth of Stellar, was recently chosen by the Monetary Authority of Singapore (MAS) for building and showcasing Central Bank Digital Currency (CBDC) solutions. This was considered a bullish development for the altcoin. 

Interestingly, the Stellar blockchain has featured in top projects based on average daily development activity on Github alongside Cardano, Chainlink and other altcoins. The updates in the Stellar ecosystem are likely to have triggered a bullish outlook among traders and NFT holders. 

Pseudonymous cryptocurrency trader and analyst @Pentosh1 has predicted a 30% upward climb in XLM/BTC pair. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto bulls on winning streak pushing for more

Bitcoin price jumped this week after a shift in sentiment on Thursday when global equities went back in the green and investors favored riskier assets like cryptocurrencies. 

More Bitcoin News

Binance support for Polkadot parachain auctions could send DOT to new all-time high

At the Sub0 Conference representatives of Parity Technologies, DOT founders Gavin Wood and Robert Habermeier, confirmed that Polkadot is now ready to implement parachains, auctions and crowd loans on its blockchain network. 

More Polkadot News

XRP price awaits for volume to skyrocket to $2

A brief technical and on-chain analysis on XRP price. Here, FXStreet's analysts evaluate how Ripple bulls take control.

More Ripple News

Shiba Inu whales buy the dip after SHIB loses $600 million in market cap

Shiba Inu concluded a massive rally, and SHIB price plunged on October 14. Proponents were awaiting a Dogecoin flippening, however, SHIB dropped to 14th rank by market capitalization soon after. 

More Shiba Inu News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast