Stellar has made an impressive progress during the last quarter of 2018 as it had managed to get closer to the top five list by expelling Litecoin (LTC) and taking the spot of the sixth largest currency with the market capitalization of over 4,5 billion dollars.
Previously reaching an all-time high of 0.75$ per one XLM unit, Stellar Lumens is now being traded at the price of 0.24$ with the latest increase of over 8% in a single bull run in the last 24 hours.
In addition to progressing with an increased pace of growth against the fiat also gaining over 400% on a year to date charts, Stellar Lumens makes up for one of the most efficient currencies in the market when it comes to providing fast and prompt, while cost-effective transactions.
Able to process around 1,000 transactions in a single second, Stellar Lumens seems to have a rather bright future in the blockchain space, however, this is not the only recognition this crypto is getting as there is also an increased interest in tokenization on the Stellar network.
At this pace of growth and the increased momentum, is Stellar Lumens able to skyrocket by the end of 2018?
Stellar Spiking Up in a Single Day Bull Run despite the Market Dip
Despite the fact that the market is currently in a rough state where only a handful of cryptos is managing to rise against the current market trend, which also includes Ripple (XRP) and Stellar (XLM).
However, as Ripple has acquired a weak spike against the fiat with rising around 1%, Stellar Lumens has gone above 8% up in the last 24 hours. Back in January when the majority of currencies were heading up to reach their record prices, Stellar acquired 0.75$ per one unit, but with the recent momentum, XLM might be able to reach the value of 1$ by the end of 2018 and the beginning of 2019.
In addition to rising up in the last 24 hours despite the negative market trend that caught up with the crypto market after a single day of a mass rebound, Stellar Lumens is also showing a positive return on the monthly and weekly basis.
The fact that Stellar network will be hosting “the first stable coin” issued by the tech giant IBM, which is also one of the oldest partnerships that Stellar has acquired since the time it was first launched as an ICO, is nearly enough to provide the needed boost for XLM in the market so it would be able to get closer to its record price of 0.75$ also breaking the resistance of 0.80$ and going up for reaching 1$ by the end of the current year.
As Stellar has made it with 434% of rises in the course of the last year, XLM is seen dropping by only -0.3% in the period of the last seven days, holding on in the green on bi-weekly and monthly charts.
With 22% gained in the last 30 days and with the fact that Stellar is holding on despite the dip, we can easily say that the progress of XLM is moderate at the moment, but also very promising.
Stellar Lumens has a clear objective of providing fast and cost-effective financial solution by offering its blockchain network, which is probably one of the top reasons why the demand for XLM is in constant increase during the past year.
What Can Boost the Price of Stellar XLM?
One of the potential factors between the latest boost of 8% against the dollar in the last 24 hours might be one of the recent partnerships that Stellar Lumens acquired during the last week.
In order to back up assets which are based on Stellar, BLOC company announced the official start of a partnership agreement between the company called Hyperion and Stellar Lumens network. The way that Hyperion partnership with Interstellar might be pushing the value of XLM is reflected in the fact that Hyperion is actually hosting trades of digital assets in an environment that is fully regulated by the Securities and Exchange Commission.
This is a rather important fact given the case that many assets are struggling with imposing regulations, so having a back up from Hyperion, might have conditioned the latest spike although the partnership was announced several days ago.
Moreover, Stellar’s partnership with IBM seems to be in a constant focus, which most probably represents an additional back up that might push the price of XLM up by the end of the year.