Does Stellar (XLM) Make A Good Altcoin To HODL?
The current price of Stellar Lumens (XLM) does not make it the most attractive digital currency in the cryptoverse. Stellar’s growth unlike other altcoins in the market are mostly unsung on, that does not dispute the fact that Stellar remains one of the most revolutionary crypto projects till date.
The rapid growth of the Stellar network is a testament to the progress of Stellar. As of January 1, 2018, the Stellar Network was home to 244,518 accounts, however, as at June 1, 2018, the membership base of the Stellar network was pegged at 475,789.
Market Performance of Stellar (XLM)
The frequently reoccurring bearish trends of the crypto market has been a major hindrance to the growth of Stellar over the last few months. Last week began on a strong note for the crypto market, however, the price spikes soon faded resuming the decline. As at the time of this writing, Stellar along with over 81% of the crypto market is down in the red.
Stellar (XLM) is one of the most affected coins by the faltering crypto market. As of this writing, Stellar (XLM) is down by 6.77% against the USD over the last 24 hours, XLM now has a trade value of $0.287 USD, and an estimated market cap of $4.98 billion USD, which makes it the 7th largest crypto.
The low trading value and moderate returns of the Stellar Lumens (XLM) makes it one of the most undervalued and overlooked digital assets in the market. The poor performance of Stellar (XLM) may in the market will not last long, as the remarkable growth rate of its network will be critical to its price growth when the crypto market pushes for a full recovery.
New and On-Going Projects on the Stellar Network
Stellar is currently hosting the 7th edition of the annual Stellar Build Challenge (SBC) which began on June 5. The Stellar Development team recently conducted a cleanup, removing inactive projects from the Stellar directories. Following that, Fresh projects have been added to the Stellar directory.
Some of the New projects on the Stellar Network include; REM Loyalty (A retail loyalty network), Swych (a gifting and shopping network), TillBilly (a Stellar based digital payment network), FlipNpik (a social media network for local businesses), Cross Hedge, SVPER, SID, LocalXpose and Pedity. Stellar is also going to host Blockchain for Finance Conference on June 16 in Singapore.
Should You HODL Stellar (XLM)?
The current price of Stellar (XLM) is not a true representation of the progress recorded within the Stellar Network, over the last few weeks, Kin announced that it will be forking Stellar’s blockchain (for better scalability), Stellar (XLM) opened for trade on Bifinex, IBM adopted Stellar’s blockchain for its cross-border transactions, and the announcement of the new projects on the Stellar Network.
The team behind Stellar has also announced that it will be implementing the Lightening network on the platform, which will make Stellar the first crypto project to integrate the Beta Version of Lightning Network. Stellar could experience a breakout any time soon, so XLM is definitely a coin to HODL.