The 2019 crypto market continues to be highly competitive, and coins not only struggle to stay relevant, but also to outperform their competition.
After the market crash in 2018, this has become a difficult task for many of them, but most of these projects still manage to continue their development and reach new heights.
One coin that investors have particularly high hopes for is Stellar (XLM), which currently ranks as the seventh largest coin in the top 10 list of the largest cryptocurrencies by market capitalization.
About Stellar (XLM)
Stellar is an open source protocol and was originally introduced in 2014. The aim is to provide an extremely efficient money exchange protocol. Ultimately, their goal is to replace the traditional currency exchange systems used by banks and other financial institutions. In this regard, it is similar to the second largest cryptocurrency, XRP, which is often seen as Stellar’s main competitor.
However, the main difference between the two is that Stellar has dedicated its efforts to delivering its services to individuals, while XRP aims to work with banks. The project believes that people should be able to send money as easily as email.
While faster transaction speeds are required for all types of transactions, it is believed that Stellar’s blockchain will have a particularly large impact on cross-border transactions. While XLM manages to complete transactions in just a few seconds, traditional banks and financial institutions can often take hours or even days to complete.
Since this is viewed by many as time consuming and inefficient, the demand for lightning fast services like Stellar has risen sharply in recent years. This is one of the main factors that brought Stellar to the public and why the project became so popular.
At the moment, Stellar has a lot going for it. It’s one of the fastest coins in the crypto market, with near-instant transactions and very affordable transaction fees. It has forged numerous smaller partnerships and its coin is listed on some of the most popular crypto exchanges in the world.
In addition, the project managed to partner with tech giant IBM, which wants to use Stellars almost immediately to improve its own business and offer better solutions to its customers. In the meantime, the partnership is also important to Stellar, as the support of an influential partner is often critical to the survival of cryptocurrencies.
Another big partnership for Stellar is with Blockchain.com, followed by a $ 125 million drop in air.
Finally, Stellar has another great use case that many consider to be very important to the future of crypto, blockchain, and various forms of assets, which is asset tokenization. Stellar has the ability to lead the STO revolution because it is scalable and almost numb. In the meantime, STOs have become increasingly popular and many consider them to be spiritual successors to ICOs that died out in 2018 for various reasons, such as their reliance on investor confidence in the project, which led to a lot of scams.
Stellar in 2019
Stellar made great strides in 2018, but its price did not reflect that positive development due to a constant bear market. In fact, it continues to decline to this day. While the decline is not as sharp as that of Bitcoin of Ethereum, it is still noticeable and the price of XLM is as low as it is, currently at $ 0.106816 per coin.
Even so, Stellar has a daily trading volume that is consistently above $ 100 million and its current market cap is $ 2.04
Billion. This indicates that there is a high demand for the coin and that there is a large number of active trades being made on a daily basis. Thanks to its partnerships and the features it offers, many believe that Stellar will reach great heights as soon as the market allows it. Because of this, many investors take the opportunity to invest in the coin while its price is still low.
While no one can know when the next rally will begin, analysts seem confident that it will happen sometime in 2019. If so, Stellar could be one of the coins they are leading, and even if it doesn’t. ‘t, its value will continue to benefit thanks to the coin’s high quality and coveted properties.