Stellar (XLM) is an open source, decentralized, and community-owned network aimed at conducting cross-asset transfers of value. Intended to be an open financial system providing access to low-cost financial services to people of all income levels, Stellar charges fraction of a penny to facilitate the cross-asset transfer of value. In addition to that Stellar (XLM) can handle exchanges between different cryptocurrencies. Like Ripple (XRP), Stellar is also centralized and can handle cross-platform transactions along with microtransactions. But, unlike Ripple, Stellar.org, the organization supporting Stellar, is a non-profit one. Using intermediary currency of Stellar, Lumens (XLM), a user can send any currency that they own to anyone else in a different currency. In 2014, the founder of Mt. Gox and co-founder of Ripple, Jed McCaleb, founded Stellar. Moreover, Stellar.org is working with various financial institutions and drastically reduce the cost and time required for cross-border transfers.
According to coinmarketcap.com, on April 19, at UTC 05:44, Stellar (XLM) was trading at USD 0.115954. At the same time, it’s market capitalization was around USD 2,241,224,524. Moreover, Stellar’s last 24 hours trading volume was approximately USD 283,029,881. Currently ranked at 9th place in the cryptocurrency ranking chart, Stellar’s Return on Investment (ROI) rate is 3,796.70 %. In comparison to Bitcoin, it was valued at 0.00002216 BTC per chip. On March 25, Stellar (XLM) was trading at 0.102469, since then it saw unprecedented growth and today after 25-days, its current value is USD 0.115954 with a cumulative hike of 13.2%.
Let’s have a look at historical fluctuations in the price of Stellar (XLM):
(Jan 04, 2018)
(Nov 18, 2014)
|Yesterday||0.119237 USD||0.115588 USD|
|7-days||0.124288 USD||0.111893 USD|
|30-days||0.134701 USD||0.098930 USD|
Yesterday was a good trading day for Stellar (XLM) as it opened at 0.116655 USD and wrapped up the day at 0.117363 USD, with an intraday gain of 0.000708 USD (0.61%).
In the first week of April, when the crypto market was bullish, the price of Stellar (XLM) did relatively well against the USD. Additionally, it maintained an uptrend for a few days before the market correction started. Not to forget that recently Coinbase announced that it would be launching an educational program for enlightening its users regarding Stellar (XLM). This news came as a support for the Stellar Lumens (XLM) and helped in maintaining market value. Nevertheless, with correction in the market, the price is Stellar Lumens (XLM) fell against the USD and BTC as well. Since the 8th of April, there is a bearish trend in the value of Stellar Lumens (XLM). According to sources, if this market trend persists, the price of Stellar will hit bottom before any further breakout commences.