Currently up by about 32 percent, Stellar Lumens (XLM) is having one of the best trading days – compared to its fellow top-10 most valuable coins. For reference, IOTA (MIOTA) is only up by 3 percent. Similarly, other altcoins like Litecoin (LTC) and NEM (XEM) are only up by about 6 percent.
Looking back even further, Stellar (XLM) is up 87 percent from a week ago.
In the past month, this coin has gained a whopping 351 percent. It’s currently trading at about 42 cents. Toward the end of November, it was trading below a nickel.
What kind of cryptocurrency is Stellar Lumens (XLM)?
Like most crypto-coins on the market, this one has some pretty standard features. It allows its holders to transfer funds quickly and cheaply. No banks or other financial middlemen are necessary. It is an open-source, decentralized global financial platform.
And also like a lot of its fellow top ten most-valuable cryptocurrencies, Stellar Lumens is the result of a fork. That means that its original blockchain technology was cloned from an existing cryptocurrency. In this case, it was forked from Ripple (XRP). After using Ripple’s protocol (and changing a consensus code), Stellar went live in November 2015.
Part of Stellar’s team of advisors include Patrick Collison, the Chief Executive Officer of Stripe. Also on the team as advisors is Matt Mullenweg, who founded WordPress, and Naval Ravikant – the founder of AngelList. Additionally, Stellar’s co-founder Joyce Kim is the head of MIT’s media lab.
With this kind of strong tech backing, Stellar has become one of the most legitimate cryptocurrencies on the market.
Is Stellar Lumens (XLM) a good pick?
According to coincheckup.com, this crypto-coin has a lot of positive attributes. For one thing, the total analysis score for this currency is 69.75 percent. That’s pretty good, especially compared to other altcoins. The Team Strength score is 49 percent, and its product strength score is 87 percent.
There are some mixed numbers, too, however. Its coin strength score is only 55 percent. Its business strength score is only 40 percent.
But Stellar’s Advisory board strength is 75 percent at the moment, and its activity on social media is at 90 percent. It got the full amount of points possible for blog activity – as well as Facebook and twitter activity.
But, most importantly, its average daily return on investment (ROI) is 6.11 percent. Its average monthly ROI is a whopping 136 percent. This protocol’s product development status (50 points) is at the highest level possible.
This crypto-coin clearly has a ton of solid scores. But its impressive price gains are what is probably bringing most investors into the Stellar Lumens club. This is a coin we are absolutely paying attention to.
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.