Stellar (XLM) – joined the top 10 cryptocoin late last year, it is now the talk of the town in recent time. Like 2017, when XLM achieved over 14,000% which gave it the opportunity to be among the top digital coins, it is about doing the same this year.
While other altcoins staggers precariously, Stellar is creating a path, giving others the courage to remain in the global market of cryptocurrency.
Everyone understands that the market was bearish at the start, Stellar remains focused and drove different resisting forces to any possible fall. The coin remains atop with all impeding moves by FUDs and market forces trying to drive it down. Now that the market seems ok, Stellar is now enjoying the bullish nature of the cryptocurrency market and becoming the most celebrated or among the celebrated.
Stellar, which connects people to low-cost financial services to fight poverty and develop individual potential, is rising all day.
According to coinranking, Stellar is ranked 8, has a market cap of $ 8,216,434,378, and 24 hours trade volume of $ 163,273,000. At press time, it has a trade value of $ 0.442.
Touted as a public blockchain network that enables cross-border payments at almost no cost, while fighting poverty and developing individual, Stellar has had 2.83% in the last 24 hours, 16.99%in the last 7 days, and 141.62%in the last one month.
Analysts have linked the bullishness to the general growth noticed in the Cryptospace, Stellar continues to show unrelenting body languages creating a growing environment for itself in the presence of deteriorating coins.
Shidan Gouran’s Praise Of Stellar Lumen
In an interview with CCN, Shidan Gouran, president and COO of Global Blockchain praised Stellar Lumen at the expense of Ripple, while discussing its role as a link between enterprise and public blockchains.
It is known that Stellar Lumens was the breakaway of an early fork of Ripple, however, Gouran said Ripple is specially a ‘software company’ that deals in selling transaction software to banks.
He Gouran said, “Ripple’s ledger is not really being used for anything today. Ripple has nothing to do with blockchains. I am sure that one day Ripple is hoping that banks will adopt their software and currency, XPR. They got where they did today by leveraging the marketing of the hype blockchains.”
He maintained that Stellar is designed to an open network with a blockchain based solution, without the aim of focusing on producing software for banks.
Gouran maintains that Stellar offers superior back-end management that are not available anywhere on decentralized blockchains i.e. freezing accounts, KYTMLs APIs. Ahead of Ripple, Gouran believes that Stellar is a principal platform with the potential of linking enterprises with the public world.
IBM And Stellar: Once In A Life Time Partners
Dubbed once in a lifetime partnership, the partnership between Stellar and IBM is surprising to many, and an uncommon partnership in history owing to the standard of IBM and the awesome tool offered by Stellar. At Sibos 2017, IBM revealed the partnership where real transactions are to be settled using the cryptocurrency lumens.
According to analysts, this deal has the potential to create room for Lumen to revolutionalise the banking industry and as well dictate the future of remittance. The software company may be a possible sounding board for Stellar to coast the crypto space and at the same time become a principal player in cross-border settlement. IBM announced that it is going to convince central banks to adopt Stellar to make it stand above Ripple. As time goes on, IBM may make Stellar the next big thing to watch in the cryptocurrency world.
Kin Foundation’s Recent Partnership With Stellar
Kin foundation announced late March that it has partnered with Stellar. The announcement made XLM to grow at a faster pace. According to Kin, the reason for the partnership is because it desires using a high-speed, high-scale blockchain to satisfy users.
Therefore, all transactions as from now on, according to Kin, are to be performed on Ethereum or Stellar.
“Welcoming Stellar into Kin’s infrastructure is a huge step forward in Kin’s functionality and accessibility for digital services.”
Conclusion: The growth of every digital coin depends on the team’s hard work. Unlike some coins whose team is idle, doing nothing to propel their managed cryptocurrency, Stellar is becoming too relevant, and much celebrated in the cryptocurrency space, with increasing number of once in a lifetime partnerships. If Stellar continues in this manner, there is possibility it stays atop other coins, including Bitcoin. However, the future holds many things for the digital coin. When adopted fully, dig coins like Stellar have a space in the sky or beyond.