What's Driving XLM Price to OVERTAKE XRP
Summary
TLDRIn this video, the Economic Ninja explores the recent surge in XLM (Stellar) and its impressive 483% rise, outpacing XRP’s growth of 431% over the past 30 days. The discussion highlights the differences between XLM and XRP, emphasizing Stellar’s unique role and potential benefits as a payment network distinct from Ripple. The video also touches on Stellar's robust transaction volume and real-world use cases, as stated by its founder, Jed McCaleb. Additionally, the Ninja shares insights on investment strategies, ongoing promotions for cryptocurrency courses, and his commitment to engaging with the community as the channel approaches 500,000 subscribers.
Takeaways
- 😀 XLM has outperformed XRP in recent growth, rising by 483% in the past 30 days compared to XRP's 431%.
- 😀 Despite their differences, XLM and XRP are often seen as rivals due to their similar goals in the blockchain space.
- 😀 XLM's surge has resulted in it reaching a market cap of $16.4 billion, securing a spot in the top 15 cryptocurrencies by market capitalization.
- 😀 XLM's recent rally was driven by both its strong performance and growing utility, particularly in cross-border payments and financial inclusion.
- 😀 Ripple (XRP) operates as a centralized company, while Stellar (XLM) focuses on decentralization through the Stellar Development Foundation.
- 😀 The Stellar network processes more transactions per day than most networks, including Ethereum, showcasing its robust real-world use cases.
- 😀 Jed McCaleb, the founder of Stellar, emphasized that Stellar is fundamentally different from Ripple, especially in its approach to decentralization.
- 😀 XLM was recently included in Wyoming's state-backed stablecoin project, marking a significant milestone for the network's potential in mainstream finance.
- 😀 While XRP focuses on institutional use, Stellar emphasizes enabling access for unbanked populations, aiming for broader financial inclusion.
- 😀 Despite some friction within the crypto space, particularly regarding Ripple's centralization, both XLM and XRP continue to make significant strides in the blockchain world.
Q & A
What is the main topic discussed in the video?
-The main topic is a comparison between the cryptocurrencies XLM (Stellar) and XRP (Ripple), focusing on their performance, differences, and future potential.
How has XLM performed compared to XRP in recent times?
-XLM has outperformed XRP recently, with a 483% rise in value, compared to XRP's 431% increase over the last 30 days.
What is the market capitalization of XLM after its recent surge?
-As of the latest data, XLM's market capitalization is just over 16.4 billion USD, placing it at number 15 on CoinMarketCap.
What makes XLM different from XRP?
-XLM is seen as distinct from XRP because it operates under a foundation-based model, whereas Ripple, the company behind XRP, is more corporate-driven. Stellar is also focused on real-world transactions, particularly in developing countries.
Who is Jed McCaleb and what is his role in both XRP and XLM?
-Jed McCaleb is a co-founder of both Ripple and Stellar. He was the former CTO of Ripple and is the current founder of the Stellar Development Foundation.
Why is Stellar considered different in its approach compared to Ripple?
-Stellar is seen as more decentralized and focused on public transactions, while Ripple works closely with financial institutions and has been criticized for being too corporate. Stellar’s network supports more transactions per day than Ethereum.
How many transactions does Stellar handle per day compared to Ethereum?
-Stellar processes ten times the number of transactions per day compared to Ethereum, according to the information shared in the video.
What is the significance of the Wyoming stablecoin project in relation to Stellar?
-Stellar was included in the Wyoming stablecoin project, highlighting its growing importance in the crypto space, especially as it competes with Ripple and other blockchain networks.
What impact did the SEC's actions against Ripple have on XLM?
-The SEC's actions against Ripple had a mixed impact on XLM, as it led to XLM being dragged down temporarily but also resulted in it benefiting from the increased interest in XRP.
What is the speaker’s personal stance on XLM and XRP investments?
-The speaker does not provide direct investment advice but highlights the potential of both XLM and XRP, suggesting that viewers may want to consider investing in both based on their individual research and risk tolerance.
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