The New Year saw wild and historic volatility on the cryptocurrency market. Barely was 2018’s first week over when altcoins including Ripple and Ethereum rallied achieving the much-coveted highs while Bitcoin scrapped its own meteoric peak of close to $20,000 per coin.
Then came the bloodbath that saw a huge downturn in the market over the following two weeks.
The crypto community was left trying to figure out whether the dip was caused by the big time players of the crypto world shorting Bitcoin to make a profit on the sale of Bitcoin futures contracts, or whether it was the classic January dip that has been witnessed over the years with the advent of the Asian New Year.
Whatever caused the deep, there is one particular coin that seemed to have gone through the bloodbath episode unscathed and that is Stellar (XLM).
Meet Stellar Lumens (XLM)
Introducing Stellar Lumens (XLM), the cryptocurrency that is showing all the good signs of a coin that’s about to get hot.
Yes, that’s right; Stellar is basically playing by the book if the history of successful projects such as Ethereum and Ripple are anything to go by.
By simply focusing on developing a prominent Blockchain, partnering with some high profile industry players and assembling a talented team, this cryptocurrency is fast become the talk of the town in the world of crypto.
In fact, the correction that saw a good number of coins on the cryptocurrency market spared stellar and by no paltry margin.
According to XBT.net (a site popular among cryptocurrency enthusiasts for price analysis), Stellar’s market capital went up from $2.5 billion to a whopping $15 billion while other crypto coins were struggling in the dip.
Where Did Stellar (XLM) come from?
Well, Stellar was founded by Jed McCaleb (a founder of Mt.Gox and a Co-Founder of Ripple). By the look of it, he seems to attract the attention of investors based on his background and expertise in the crypto space. Furthermore, it boasts a lot of partnerships and a team of expert developers.
Some of its most recent partnerships include IBM. In October, IBM announced that it was going to partner with Stellar so as to enable banks in the south pacific to have access to cross-country payments.
This is expected to make lumen pop especially considering it will be used to conduct business by clients in different countries. According to McCaleb, the partnership has the real potential of changing “the way money is moved around the world”
But let’s face it, even with the partnerships and predictions from experts about the rise in the price, the big question is, what do stellar lumens have to offer that is different from Ripple or Bitcoin?
Stellar (XLM) cutting in-between Bitcoin and Ripple
Stellar bring the best of both Bitcoin and Ripple such that it combines the decentralized nature of Bitcoin with a non-profit business model that is open to anyone while at the same time also appealing to businesses which is what Ripple is doing.
Although Fintech experts predict that Stellar’s market cap might rise to a whopping 183 million by the end of 2018 according, it is yet to be determined whether this cryptocurrency will trounce the two coins that inspire its design (Bitcoin and Ripple).