Stellar (XLM) shows stability as it stands at $0.7 after an impressive 27% increase in last 24 hours. It has seen a positive gain in its value in the midst of all other cryptocurrencies facing a downfall this week. As the second week of 2018, Stellar maintained its position as a top 10 crypto currency. Currently trading at $0.66, this is a great sign of great recovery after a couple of very bad weeks where it traded at below $0.5.
Chart by coinmarketcap.com
This is after Stellar (XLM) achieved an all-time high of US$0.91 in 1st week of January 2018. The coin has experienced its constant volatilization in its 24 hour changes but still ensured it maintains its 8th position on coincapmarket.com. 2018 marks the year that stellar climbed two steps from position 10 to 8 making a total of 65% in terms of returns.
Based on lumens as its units of the currency, this digital currency has proven to be a coin worthwhile of investing in. Just a month ago, the stellar lumens were under great pressure to maintain their slot as among the top 20 contenders of cryptocurrencies.
It is just the other day that IBM embraced Stellar’s network in order to come with a cross-border payment method which involved 5 world major banks. With this network, it would only take banks 2 to 5 seconds to facilitate the exchange of government-backed currencies faster than the current system that takes days if not hours.
Besides being founded by the same person Jed McCaleb, Stellar (XLM) and Ripple (XRP) are both quite famous around the financial sector .It is major reason it has seen its success and increase in its market cap to around US$12.7 Billion. The prices of the stellar lumens seem to take after ripple prices maybe because both crypto coins deal almost in the exact similar thing but cater for different customers. These two cryptocurrencies might not seem to be a direct competition but are among the leading coins that will revolutionize the banking industry and ensure adoption of cryptocurrencies over the fiat and government issued currencies.
With the previous week being very unfavorable even for major cryptocurrencies like Bitcoin, Stellar (XLM) as well, hinges on how the outcome of other coins performs. Though it is still very early to speculate on another all-time high soon for stellar, anything is possible at these rates of volatilization and more news expected to come.