Stellar was introduced by Jed McCaleb, who is also the co-founder of Ripple, in 2014. The blockchain based technology enables cross border transaction more easily and conveniently. A marginal feel is charged from the users/banks/merchants to make money or asset transfers on the platform. The open source decentralized platform, unlike Ripple which is a centralized one, is owned by the community without any third party interference. The currency used for transactions is called Lumens (XLM). The team of professionals is working rigorously on enhancing the platform features and reducing the transaction speed further to make it a preferred choice among financial institutions & banks.
The ROI of Stellar is currently 3,287.36%. As on May 03, 2019 at 10:39:00 UTC, the circulating supply of the coin is 19,104,199,931 XLM and the total supply is 104,942,387,317 XLM. The market cap is recorded as 1,915,492,535 USD, the price is trading at 0.10 USD & 0.00001795 BTC and the 24 h volume is 217,243,058 USD. According to the CoinMarketCap, Stellar is ranked at the 9th position in the top 100 cryptocurrencies list tailing Tether.
In the last 30 days, the highest price of the coin was 0.13 USD and the lowest was 0.09 USD. In the last 7 days, the highest price was 0.10 USD & the lowest was USD 0.095. As on April 05, 2019 at 05:34:01 UTC, the price was trading at 0.11 USD & 0.00002411 BTC, the market cap was 2,286,860,395 USD and 24 h volume was 328,751,019 USD. The downtrend of over -9% has been noticed in the past month.
The usability of the platform has been growing with over 150,000 active accounts at present. The ‘future of banking’ is how Stellar team has positioned the platform and rightly so if we look at the rising adoption of it for real-world challenges. Recently, Wirex, a UK-based payment network, has launched 26-fiat backed cryptocurrencies on the Stellar system. Its partnership with IBM last year has always been the talk of the town and led to major price surge for Stellar Lumens (XLM). IBM’s launch of World Wire, connecting banks via Stellar network, has got good traction and already over 7 banks have signed up to use the platform and explore the possibilities in cross border remittance. Stellar team has also signed an agreement with Deloitte Digital bank. It won’t be wrong to say that Stellar has been the underdog and now taking giant strides to take on Ripple’s position of the official banking currency. The currency has been addressing real-world problems and will be rising soon. In the next 2 years, the price can grow as high as 100 USD and five years down the line; it has the potential to reach over 500 USD.