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Stellar Lumens Tildamail tieup: XLM price jumps after update allows users to transfer crypto via email

11:53, 23 September 2022

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The XLM coin in front of a bullish price chart
Tildamail promises end-to-end encryption with its blockchain-based email platform – Photo: Shutterstock

Stellar lumens (XLM) was trading up 21% over the past seven days after the announcement of a new partnership.

Tildamail, a decentralised email and storage platform, has integrated with the Stellar Lumens network. It is now giving holders of its native token, XLM, the opportunity to send their crypto through emails.

The function will initially be available to over seven million stellar lumens’ account holders.

XLM’s price rally

Stellar Lumens is a decentralised network that was launched in 2015 with the goal of powering payment providers and financial institutions.

The recent integration of Tildamail fits the network’s mission and appears to have injected momentum into its XLM cryptocurrency.

After this year’s crypto crash, XLM has been trading sideways over the past three months. It dropped to a 52-week low of $0.09901 on 7 September.

But as of 23 September, three days after the Tildamail partnership announcement, XLM had climbed to $0.12 and at one point earlier was up 21% over the past seven days.

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The partnership details

The integration of the decentralised application (dApp) Tildamail into Stellar Lumens will act as a plugin. It is going to enable network users to send emails, files and cryptocurrencies.

XRP/USD

0.46 Price
-3.240% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 0.00600

BTS/BTC

0.00 Price
0.000% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 0.00000002

DOGE/USD

0.06 Price
-0.820% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 0.0007821

ETH/USD

1,292.74 Price
-0.410% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 5.00

As well as sending XLM, Tildamail users will be able to transact with the USDC stablecoin on the Stellar Lumens network. The Tildamail website said:

“Our partnership with Stellar allows you to send both stellar lumens (XLM) and USDC (powered by Stellar). You can start sending money like email instantly. Just connect your wallet and start sending money to friends and family around the world instantly at near zero fees.”

The purpose of Tildamail is to act as a “bridge between the old web and the new decentralised web”. It boasts benefits of end-to-end encryption that it claims are not found in centralised competitors like Protonmail.

Stellar’s bustling ecosystem

Stellar Lumens received praise from the CEO of Circle, the company behind USDC, on Twitter. Jeremy Allaire recognised the network’s integration with dApps that utilise Circle’s stablecoin.

For example, the Wyre protocol was spotlighted by the Stellar Lumens network as a successful fintech application. The protocol leverages USDC on the network and gives clients access to application programming interfaces (APIs).

The Tildamail integration also comes as Stellar Lumens is running a community fund to encourage new projects on the platform.

A panel of judges determine the best upcoming projects and reward them with grants. The deadline to submit a proposal to the current 11th community fund is the 25 September.

Further reading

What You Need to Know

The week ahead update on major market events in your inbox every week. Subscribe
The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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