Stellar Lumens (XLM) is an open source, a decentralized protocol that facilitates digital currency to fiat currency exchanges and also permits cross border exchanges between any pair of currencies. The goal of stellar has been to unite the world’s infrastructure so that the revenue flow is quick and at a less cost between financial institutions, businesses and people. As a decentralized financial network, a single entity cannot process transactions or stop a user from onboarding or offboarding into the network. The platform will still be completely functional with some servers being turned off or if it fails. Stellar’s cryptocurrency, Lumens can be used for transferring money to people overseas and also serves a bridge currency between the tokens on the stellar platform.
Stellar has a market capitalization of USD 2,374,777,016, and each token can be purchased for 0.123290 USD on April 04 at 11:34 UTC. Based on the stats, Stellar is the 8th largest cryptocurrency in the market and has a circulating supply of 19,261,662,526 XLM coins and a 24-hour volume of $397,261,496. The return on investment is estimated by Coinmarketcap to be 4039.52%.
Elaboration on the Market
The market opened with a capitalization over USD 2100 million USD and the trading price summing to 0.112932 USD. It peaked to USD 2500 million USD before deteriorating. The price fell as low as 0.073777 USD with the Mcap value of USD 1,414,206,302 and had been on the downtrend period until February 08. The market trend has been on a continuous increase thereafter with inconsequential dips due to the volatility of the cryptocurrency. The Mcap bounced to an all-time high on April 04 at 01:39 UTC where the value traded at USD 2,513,176,024 and the price traded at 0.130506. This increase was a drastic growth from its lowest values by 77.71% and 76.89% respectively. The 20-day exponential moving average proves the hike in the market values by 15.09% giving bulls an upper hand.
Price Prediction for XLM
The market, on the whole, has been consistently increasing, but the volatility of the coin might affect the future. Being crypto predicts an increase in the price of XLM coins by the end of the year. It estimates the price to reach 0.2 USD in December 2019 and one year later, in December 2020, the price is expected to increase as high as 35-45 USD. Jio Phone, cryptocurrency forecaster believes the coin has an optimistic future with the values reaching 8.08 USD by April 2020 and would move even higher to over 12.00 USD by the end of 2020.
Stellar Lumens, with its consistent market and bullish support, has a bright future to look forward to. The predictions are achievable if the volatility of the cryptocurrency subsides. The current market is in support of the buyers both long term and short. The traders with their contributions can maintain the uptrend for a longer period with an increase in the value of the cryptocurrency.