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Monero {XMR} eyeing to conquer Stellar {XLM} as altcoins recover; Lisa Nestor of Stellar enunciates the importance of stablecoins

Stellar is ranked at #10, below Bitcoin SV in the market. The price rose slightly; at a rate of 0.24% in the course of the past 24-hours. The trading volume recorded is $103.428 million, while the supply has 19,638,408,809 XLM tokens in play. The total market cap of Stellar is $1.366 billion. As of this moment, XLM is priced at $0.069600. 

Monero is ranked at #11 on coinmarketcap after it was ahead of Stellar Lumens for a week. XMR rose by 0.55% in a matter of hours, which brought the price all the way up to $79.11. The trading volume recorded is $77.815 million, whereas the supply has 17,178,251 XMR coins in circulation. The total market cap of Monero is $1.359 billion.

Lisa Nestor is the director of partnerships at the Stellar Development Foundation. She spoke of the importance of stablecoins, and how the application of this tech lies beyond trading too. “Tokenization of currency” is a growing field, and adoption is expected to increase with the passage of time. Lisa also referred to the falling Chinese Yuan in her speech at the Digital Asset Strategy Summit.

Stellar is the greatest competition to XRP in terms of being an asset being used primarily for cross-border transactions. While Ripple has brought in more than a dozen global banks, Stellar Lumens is yet to announce major deals. The low reported volume shows that interest in XLM may fade soon. Will Monero be able to successfully capitalize on this opportunity?

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