Nasdaq Praises Stellar, Litecoin, and Bitcoin Amid Market Volatility

In a challenging market, Nasdaq predicts Stellar (XLM), Litecoin (LTC), and Bitcoin (BTC) as the most promising virtual currencies. Nasdaq highlights Stellar's strategic partnerships, Litecoin's cross-platform compatibility, and Bitcoin's stability as key factors driving their optimism in these digital assets amidst the recent market decline.

Nasdaq Identifies Stellar (XLM), Litecoin (LTC), and Bitcoin (BTC) as Promising Virtual Currencies Amidst Market Volatility

New York, NY - May 29, 2018 - Nasdaq, Inc., a leading global exchange, has recently expressed its confidence in three virtual currencies: Stellar (XLM), Litecoin (LTC), and Bitcoin (BTC). Despite the recent market turmoil that has plagued the digital currency market, Nasdaq believes that these three coins possess the potential to outpace the competition.

Stellar (XLM): Benefiting from Strategic Partnerships

Stellar is expected to reap significant benefits from its strategic partnerships, which have been instrumental in its growth. In December 2017, Stellar was listed on Hong Kong's OKex exchange, and in partnership with tech giant IBM, it developed a platform for facilitating cross-border transfers involving seven fiat currencies from South Pacific countries.

Moreover, the Kin Foundation has announced plans to fork from Stellar's blockchain due to scalability issues. This move is expected to result in the development of two parallel blockchain solutions, significantly enhancing the ecosystem's scalability and efficiency.

Litecoin (LTC): Expanding Accessibility and Use Cases

Nasdaq believes that Litecoin is well-positioned to thrive in the market due to several factors. Blocknet's recent announcement that Litecoin will become compatible with its protocol will enable it to become a cross-blockchain decentralized app. As a result, payment processors that accept LTC will also be able to accept payments in other currencies, and vice versa.

Additionally, the integration of Litecoin into Abra, a leading digital currency wallet, further expands its accessibility and utility. Abra's CEO, Bill Barhydt, confirmed that the wallet will support both deposits and withdrawals in LTC.

Bitcoin (BTC): A Steady Anchor

According to Nasdaq analyst Per Shone Antsey, Bitcoin serves as the anchor digital currency, exhibiting a lower rate of price decline compared to other cryptocurrencies. As the oldest and largest cryptocurrency by market capitalization, Bitcoin benefits from its stability and its extensive network effect.

Nasdaq's Growing Interest in the Cryptocurrency Space

Nasdaq's recent agreement with Gemini Trust, a virtual currency exchange founded by the Winklevoss twins, reflects the exchange's growing interest in the cryptocurrency market. Under this agreement, Gemini Trust will utilize Nasdaq's technology to ensure regulatory compliance.

Nasdaq's CEO, Adena Friedman, has publicly stated that cryptocurrencies are vital for supporting the internet economy. Nasdaq's entry into the cryptocurrency space signals its recognition of the importance and potential of this emerging sector.