Huobi Crypto Exchange Adds Stellar Lumens (XLM) Token Trading Option

Huobi has recently revealed the news that it will support the Stellar Lumen token [XLM] on its Huobi Global on July 25, 2018. As per its statement, the deposits will be ready today from 16:30 (GMT+8) time. As for the pairs it will be supporting, XLM will be traded against both bitcoin [BTC] and ethereum [ETH] as of July 26 (GMT+8). However, withdrawals will not be available until July 28.

As per AMBCrypto’s reporting, both Huobi and Stellar Lumens have successfully implemented some of their long-term goals. For instance, Huobi has been taking the necessary measures to introduce the crypto sphere to investors through its API and “transaction environment”. Similarly, the crypto exchange shared how the distribution of BIX tokens will take place, which were launched on July 24.

When considering the efforts made by Stellar, it has been noted that the open-source protocol had scored a partnership with Kodak to release the duo’s product, KODAKONE. The product will use blockchain technology to support photographers and artists and will ensure that they get compensated for their achievements. A token dubbed, KODAKCoin will also be issued as a payment method for both buyers and creators.

To add to this partnership, Stellar’s XLM tokens are believed to be working towards a certificate that allows users to view the tokens as being “Sharia”, which makes it the first to set such a mark.

During the time in which this piece was written, XLM token’s price was USD$0.32, with a market capitalization of about USD$5.8 billion. Within the past two weeks, XLM has managed to grow from USD$0.20 to USD$0.32, a dazing 60 percent growth.