Stellar Lumens (XLM) is now worth more than Litecoin (LTC). At $0.799 per XLM, the entire cryptocurrency is now valued at roughly $14.3 billion. That means that Stellar has soared to be the 7th most valuable digital currency worldwide.
Just ahead of Stellar is NEM (XEM), in 6th place. And just behind it is TRON (TRX), which is in 8th place with $13.4 billion in value.
XLM has added 265% to its price one week ago. In the past month, its price has grown by 611%.
But in the past 24 hours, Stellar Lumens have fallen by nearly 10%. With such extreme gains seen before this slump, we’re thinking that it’s time to take advantage of this dip and buy in. The bearish sentiment may just be due to the meteoric rises of other altcoins this week. Maybe not.
As this altcoin nears the momentous and significant $1.00 mark, we are keeping our eyes fixed on Stellar to see where its price goes next.
What kind of Cryptocurrency are Stellar Lumens (XLM)
Stellar basically runs like Ethereum (ETH). It is a decentralize, cross-border transaction ledger platform – just like Ethereum. But this altcoin is one of the several altcoins – Cardano (ADA) comes to mind – that have improved upon Ethereum’s limitations.
First off, Stellar is free to use. Ethereum – we wish it were free to use. There are now so many ETH-alternative cryptocurrencies out there that have superior (or more promising) technology.
Stellar Lumens (XLM) can smoothly convert currencies during transactions too. It is a decentralized exchange where people can easily exchange different fiat currencies.
It is just an all-around more flexible and efficient piece of ledger technology. We are banking on Stellar Lumens gaining more in value in the coming weeks.
But other popular altcoins are also rocketing up the crypto charts. We’ll see what happens.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.