Stellar (CCC:XLM-USD) is on the rise on Monday as interest in the cryptocurrency rises.
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Let’s take a look at what potential investors in Stellar need to know about the crypto below.
- Stellar Lumens is the native cryptocurrency of the Stellar blockchain network.
- This is a financial network for storing and transferring multiple types of currency.
- This includes fiat currencies such as US dollars, euros, and others.
- It also includes various cryptocurrencies including Bitcoin (CCC:BTC-USD), ether (CCC:ETH-USD) and of course Stellar Lumens.
- One of the main advantages of using Stellar is that it offers the reach of a global bank with no additional hassle.
- This includes fast transactions over the network as well as flat fees for transactions.
- The Stellar platform is also open source and was specially developed for developers.
- This means it can be used for business, development, and retail.
- It’s also worth noting that Stellar already has partnerships with many other companies.
- Some notable are Tangem, Zagg, FinClusive, Flutterwave, and ClickPesa.
- A larger list of partners can be found at this link.
- One of the requirements for a Stellar account is that it must hold a certain amount of XLM.
- The reason for this is to discourage bad actors from using the platform.
- This is also the reason why the network uses a low flat fee for transactions.
XLM rose 40.1% over a 24-hour period on Monday afternoon.
Crypto investors looking for more news today are in luck because there is a lot to do.
InvestorPlace’s crypto coverage spans a variety of different topics. These include price predictions for some crypto, a new animal-based crypto token, as well as a big hedge fund founder buying crypto. Find out all about it and more at the links below.
More Crypto News for Monday
At the time of publication, William White had positions (neither directly nor indirectly) in the securities referred to in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s posting guidelines.
Article printed by InvestorPlace Media, https://investorplace.com/2021/05/what-is-stellar-xlm-14-things-to-know-about-the-crypto-as-prices-soar/.
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