Can you explain the rationale behind the ticker symbol variations for Stellar Lumens on Poloniex and Coinbase?

3 answers

• Dec 26, 2021 · 3 years ago
  The reason for the ticker symbol variations for Stellar Lumens on Poloniex and Coinbase is due to the different naming conventions used by each exchange. Poloniex uses the ticker symbol 'XLM', which is the standard abbreviation for Stellar Lumens in the cryptocurrency industry. On the other hand, Coinbase uses the ticker symbol 'LUMEN' for Stellar Lumens. This variation in ticker symbols can be attributed to Coinbase's preference for using more descriptive symbols that align with the full name of the cryptocurrency. It's important to note that these ticker symbol variations do not affect the underlying asset or its functionality on either exchange.
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• Dec 26, 2021 · 3 years ago
  The rationale behind the ticker symbol variations for Stellar Lumens on Poloniex and Coinbase lies in the exchange's branding and user experience strategies. Poloniex, being one of the early adopters of Stellar Lumens, decided to use the industry-standard ticker symbol 'XLM' to maintain consistency with other exchanges and provide familiarity to traders. On the other hand, Coinbase, known for its user-friendly approach, opted for the ticker symbol 'LUMEN' to make it more intuitive and easier for users to understand. These variations in ticker symbols are primarily driven by the exchanges' efforts to differentiate themselves and cater to their respective user bases.
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• Dec 26, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I can shed some light on the rationale behind the ticker symbol variations for Stellar Lumens on Poloniex and Coinbase. Poloniex, being one of the earliest exchanges to list Stellar Lumens, adopted the ticker symbol 'XLM' to align with the industry standard and provide consistency for traders. On the other hand, Coinbase, a popular and user-friendly exchange, chose the ticker symbol 'LUMEN' to make it more intuitive for their users. This variation in ticker symbols is not uncommon in the cryptocurrency market, as different exchanges often have their own preferences and naming conventions. It's important to note that these ticker symbol variations have no impact on the actual trading or functionality of Stellar Lumens on either exchange.
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