Whale Alert For Stellar (XLM) Post The Launch of IBM’s World Wire?

By Sumedha Bose

There appears to be some very interesting news for those who have been following the developments around IBM’s new blockchain launch and Stellar’s collaboration with IBM on this new cross border payment portal.

Stellar had recently announced that they would be partnering with six international banks that collectively have operations in 72 countries, with the launch of World Wire. This seems to have started a frenzy in the market for investing in XLM.

A whale alert has been raised by some users on Twitter, who noticed a number of significant transfers related to XLM. It is being said that XLM’s new collaborations are the reason that people want to get their hands on the cryptocurrency. A twitter account that goes by the name ‘Whale Alert’ was one of the first pages to detect these massive transfers.

https://twitter.com/whale_alert/status/1108089656401383425

In the first transaction, 1 billion XLM was transferred to an unknown wallet on March 20. The second transaction was initiated from the wallet GDQP, and was sent from GDKI to GDQP. The transfer saw 1,000,000,331 XLM being sent just two minutes after the first transfer.

The Stellar website has stated that the GDKI wallet is the richest XLM wallet holding more than 43 billion XLM. These transactions were both around $11 million. Discussing this sudden influx, an user commented:

https://twitter.com/GoodTexture/status/1108118407021387777

GDQP, the wallet which received the first transaction is already listed on Coinbase and currently holds 39.9999 XLM. The sender, GDKI, was on the other hand, created on August 10, 2016, and held a balance of 47.364 billion XLM.

Stellar is going to put up a strong challenge against Ripple and XRP because of their collaboration with IBM on the cross border payment portal, it’ll be interesting to see the outcome of this event.

Sumedha Bose

Sumedha uses words as her crutch to get by in life. She takes a keen interest in debating, dancing and destroying the patriarchy in her free time. She can be contacted at [email protected].

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