Stellar (XLM) is one of the top altcoins at the moment, and for a good reason. This cryptocurrency investment has been delivering massive gains, and climbing the coin ranks along the way. Stellar Lumens, as these coins are officially named, also offer a number of advantages over more established currencies like Bitcoin (BTC) and Ethereum (ETH) – on top of having a lower per-coin price tag.
Here, we will lay out why this digital currency is a sound investment that you should buy – and hang onto.
Let’s Start with the Rapid Rise of Stellar Lumens (XLM)
This coin is currently the 6th most valuable cryptocurrency worldwide, and it’s still rising through the ranking – even today. At the time of writing, it’s trading at $0.58. That’s a 30% boost from its price a day ago, and puts this digital currency just ahead of Litecoin (LTC) in terms of market value. Earlier today, LTC was in 6th place until it was overtaken.
Litecoin (LTC) is worth about $9.98 billion at the moment, with Stellar at $10.36 billion. A tiny gain or loss from one of these cryptocurrencies could shift the playing field. XLM may be in 5th place by the end of the day, too.
The Technology Behind this Coin is Powerful
This particular cryptocurrency has more than one advantage over leading coins like Bitcoin (BTC) and Ethereum (ETH). Similar to Bitcoin, it is a distributed blockchain that facilitates the transfer of funds across borders – and, similar to Ethereum, the Stellar network supports the creation of decentralized apps (dApps).
But, unlike both Bitcoin and Ethereum, XLM transactions are free. Oh, and the transactions on this network settle in just 2-5 seconds. That is lightyears ahead of Bitcoin (BTC) transaction verification speeds, and this blockchain technology is based on Bitcoin’s. And the Stellar platform enables the quick and easy transfer between currency types, like from fiat dollars to crypto coins.
XLM is also working with IBM on a cross-border transaction system.
Stellar (XLM) is Getting Legitimized with High-Profile Shout-Outs
This coin isn’t just a favorite of armchair cryptocurrency pundits and small-time traders out there. There are big-name quasi-celebrities giving their endorsements or calling attention to this cryptocurrency at a growing pace.
Millionaire investor and crypto fan John McAfee tweeted out his support for Stellar a little over a week ago. While you would think the tweet, where McAfee referred to XLM as the next bitcoin, would be a boost to this coin’s price – it actually wasn’t. Between January 15th and January 17th, its price sunk from $0.64 to just around $0.34. Since then, however, it has managed to gain back about 2/3 of that loss.
Coin of the week: Lumen (XLM) – called Stellar by some – though Stellar is the name of the network that created the coins. One of the fastest and cheapest crypto transactions. Lumens facilitate the financing of Third World projects and is called by some “The next Bitcoin”.
— John McAfee (@officialmcafee) January 15, 2018
Apart from John McAfee, the co-founder of Reddit – where this cryptocurrency has a very active and enthusiastic fan base – also threw his two cents in. (Yes, that’s the one married to tennis superstar Serena Williams). Two days ago, he tweeted this:
Definitely worth subscribing to in 2018… https://t.co/Omgof6dyN0
— Alexis Ohanian Sr. (@alexisohanian) January 22, 2018
This coin is getting some Ripple-like press these days – but its price hasn’t taken the overvalued path that XRP has ridden on. Stellar (XLM) are looking like they can possibly the next XRP coins, and it certainly has the technology and brand awareness to back it up.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.