Throwing Light on Stellar Lumen (XLM)

Throwing Light on Stellar Lumen (XLM)
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The big coins in the crypto market are worth investing in and have been the preferred choice for many for some time now. There’s no doubt that’s the right move to do, as the top coins such Bitcoin never fails investors. However the other altcoins are worth considering to and if any of them is doing well, it will only be right to bring in to light.

Stellar (XLM) is a relatively small digital coin when matched up with the top guns, but it is currently showings signs that it shouldn’t be brushed aside. The coin which was created from the Stellar Development Foundation, a non-profit organization, was initially based on the system behind Ripple and was aimed at changing the economy globally. Stellar has some close similarities with ripple and that’s because both were created by the same individual.

The coin hit rock bottom on June 29th, falling to $0.17, its lowest and had investors sweating but within a couple of days, it rose back up and is now trading at $0.3, at the time of this piece, an all-time high in 2 months. This rise meant the digital coin amassed more than 60% against the USD in not more than 2 weeks, since July 12.

If there’s anything to this, it is that the coin’s resilience is top notch and investors should pay more attention to that. The coin is also the right option for investors stressing on impressive performance which equips them with the ability to adapt to the ever-changing crypto market. The digital coin allows people to exchange money directly with each other via Lumens (XLM) which serves as a medium to handle the fiat money aspects.

Adding to the already exceptional package, is the fresh announcement that Stellar would be laying hands on its very own USD trading pair, an additional factor which pushed the price higher within a couple of days, although it could also be linked to the IBM announcement that it would also be adding a crypto on the Stellar blockchain. Stronghold, a financial institution based in San Francisco broke the news and now users can buy as well as sell XLM for US dollars.

This announcement, coupled with Stellar’s remarkably low transactions fees could mean that cross-border or bank-to-bank transactions are in line for a big upgrade in affordability as well as speed.

Investors looking to convert their cryptocurrencies from the various altcoins into dollars would now rely on XLM to do so. Taking a sneak-peak at the price which is very low and affordable too would sweeten the whole package for investors.

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