- WisdomTree has chosen the Stellar protocol to host its new investing app.
- Amid the confluence of positivity around Stellar, is XLM’s price likely to touch $0.15?
Traditional financial service providers are seeking avenues to create a balance with the nascent cryptocurrency industry and on that premise, WisdomTree, set to release a new application dubbed WisdomTree Prime. Powered by the Stellar (XLM) blockchain codebase, WisdomTree Prime would be used for investing in several asset classes including stocks, gold, and Bitcoin (BTC) amongst others.
Notably, the Stellar blockchain codebase is a long-running system known for fast transaction confirmation, a feature that has earned it a dominant place in the payment industry. The same capability will apply to WisdomTree Prime as the Stellar network will power snappy transaction confirmations across many investment choices for the new app. According to a demo shown to American media house Axios, the Prime app functions like many of the other previously existing investing or personal finance apps.
The Stellar network powers WisdomTree’s new app Prime, providing snappy transaction confirmations across many investment choices. Are we entering the new age of finance apps? Check out the latest from @axios 👇 https://t.co/znuSe3tgmr
— Stellar (@StellarOrg) June 30, 2023
The WisdomTree Prime app has charts and clear descriptions of the different products listed on the platform as well as a portfolio tracker.
Also, the platform will charge fees for transactions but no specifics have been made available for now. While it is worth applauding that the new WisdomTree platform can help investors expand their portfolio by acquiring BTC, it should be noted that Bitcoin purchased through the app can only stay within the system. For now, they cannot be sent into an external wallet.
Developers have confirmed that they are already working on introducing connectivity features to the WisdomTree Prime app. According to the official website of the Prime app, the platform is a blockchain-native financial app built on the Decentralized Finance (DeFi) principles of choice, transparency, and inclusivity. The focus is to offer a user-friendly and well-curated experience to customers. Specifically, the platform has a vision of giving consumers a secure, transparent, and easy-to-use way to spend, save, and invest their money.
To be one of the first people to gain access to the WisdomTree Prime app when it is finally launched, interested users are encouraged to join a waitlist. The prospective waitlist applicants are only required to fill in their first and last name, email address and state of residence.
For now, this offering is only open to residents of the United States who are 18 years and above. As unveiled, there are plans to expand to other countries in the near future.
Stellar (XLM) Price Soars, is $.015 Feasible?
More developmental efforts is going on on in the Stellar network as innovators are actively working on making changes to transaction submissions.
The intended change is targeted at supporting scalability and safety on the Stellar network. The native token of the blockchain XLM is doing better than many other altcoins in the market. The token ended the first half of 2023 with a significant 17% surge in terms of its price value. At the time of this writing, the XLM token was trading at $0.1055, up 12.89% in the Week-to-Date (WTD) period.
Its sudden jump is believed to have been prompted by several factors including the explosive usage of Stellar Ramps, the positive momentum of the broad crypto market and the robust upgrades and advancements being made by Stellar developers.
The confluence of these positive fundamentals is poised to have a subtle undertone in the price of XLM in the near future. While the $0.15 price level remains a mildly ambitious projection from current market price, it is possible to beat if the buying momentum is sustained in the short term.
