New Altcoin On Its Stellar Way

There are many factors that set Stellar and its official altcoin Lumens (XLM) on its glorious journey to the top 10

by Pavel Velichkov
10 February • 1.5 min
In News

It is easy to fall victim to the crypto-prophets of doom’s warnings that the market is dying, the crypto bubble is popping, and there is a cryptocurrency crash in the immediate future ahead. Of course, that is even easier when the market is, in fact, acting strange and some coins lose nearly two-thirds of their value.

There is always a ray of light in a dark hour though, and this time around its name is Stellar. Stellar has made its way in the champions’ league top 10 in 2018 with an increase of approximately 65% in January alone to a market cap of some USD 10 billion. It now ranks together with the likes of Ripple, Ethereum, Litecoin, and IOTA.

 

What has Brought Stellar to Top 10?

There are many factors that set Stellar and its official altcoin Lumens (XLM) on its glorious journey to the top 10 cryptocurrencies. Stellar is an open-source, distributed payments infrastructure that connects people, payment systems, and banks.

A strong factor is that its Blockchain is more functional, not simply a trading one. By performing transactions every 2 or 5 seconds, this Blockchain is perfect for the fast transfer of fiat currencies like GBP or USD. The trick here is that Lumens covers the conversion fee.

This helps the coin to recover quickly from decline because people normally rely on fiat currencies in times of crisis, but now they have the very handy opportunity to rely on a Blockchain too.

To further back up Stellar’s progress there are the two new partnerships it struck with IBM and Deloitte. This is a coin to keep an eye on, as it has proven very strong in times when others were week.