The latest entry in eToro’s recently emerged – and much vaunted – series of cryptocurrency market analysis publications has just been released, and the news is both good and bad for followers of the Stellar platform.
eToro’s senior market analyst, Mati Greenspan, has produced a twelve page summary of the blockchain-based payment platform which gives brief insights into its team, the underlying technology and its prospects for wider adoption.
“Little Economic Case as a Store of Value”
The report is largely favourable in its description of the platform, citing Stellar’s “top-notch” team which includes Stanford professor David Mazieres and co-founder Jeb McCaleb who was also one of the brains behind the Ripple platform – arguably Stellar’s leading competitor.
Greenspan also points out Stellar’s partnership with IBM which, according to some analysts, makes it a potential future leader for blockchain-based international remittances, and also its having served as the underlying blockchain technology for some of the highest ICO profiles around such as Kik, Mobius and SureRemit which collectively have raised in excess of $150m between them.
However – and perhaps surprisingly for some followers of Stellar – the publication is less bullish on the prospects for the Stellar Lumens (XLM) token which, according to a technical analysis performed by Greenspan, demonstrates a relatively weak case for income velocity and little economic case as a store of value.