Just like up-and-coming coins are hot on Bitcoin’s tail (Litecoin is coming to mind right now), there are a number of rising stars that could soon replace Ethereum (ETH) as the go-to decentralized applications (dApp) network. In fact, there are tons of altcoins that have developed variations of Ethereum’s technology. A lot of those currencies have managed to do so while also making transactions faster and cheaper than on the ETH network. Among these high-potential coins are EOS (EOS), Cardano (ADA) and – of course – Stellar (XLM).
Stellar Lumens, like the rest of the wider cryptocurrency market, have been gradually declining in price in recent weeks. But, despite the global crypto slump, XLM remains a serious competitor in the space. Here’s why we think that this coin might end up being the digital currency that finally overtakes Ethereum (ETH).
Stellar Lumens are basically household words at this point
Stellar (XLM) has gotten a lot more notoriety in recent weeks. Sure, it has been a favorite altcoin that’s had plenty of time in the top-20 most valuable rankings, but It wasn’t until the first week of January that this coin’s price really took off. Stellar Lumens peaked on January 4th, at about 84 cents. Since then, this coin has corrected back down to 39 cents.
Even so, a few big events have happened since then that have boosted this coin’s name recognition and legitimacy. On January 25th, for example, this coin’s price shot 20% higher after payments processor Stripe said that it may support XLM transactions in the future – while it slowly gets rid of Bitcoin.
That’s a huge deal. Stripe deals with the transactions of over 100,000 companies. It ill discontinue its Bitcoin-processing feature in April because it’s too slow and too expensive. The company’s Product Manager, Tom Karlo, said in a blog post that they might start supporting Stellar Lumens “if substantive use continues to grow.”
This coin has already gotten recognition for partnering up with IBM and Deloitte, so this is just another piece of good news.
Stellar (XLM) is already stealing Ethereum’s market share
There’s a new cryptocurrency platform that is trying to be the “Stripe of Bitcoin” – it’s called Mobius Network. They could have launched their ICO on the Ethereum network, just like EOS (EOS) and Basic Attention Token (BAT) did. Instead, however, they chose to launch on top of the Stellar platform.
We're very excited to be the first major ICO built and announced on @StellarOrg! If you haven't noticed, Stellar grew by over 20,000% in 2017. Also, in 2018, you'll see why Stellar over Ethereum is a no-brainer. Here's why… #XLM #MOBIhttps://t.co/nPJcEJV2fl
— Mobius (@mobius_network) January 2, 2018
The company’s co-founder and CEO David Gobaud said that Ethereum is like AOL or Myspace in the current blockchain era – just obsolete and there are better options out there.
Which brings us to the other ICOs that have launched on top of the Stellar (XLM) network, like this one:
Tutorial Guide | @smartlands, which ICO'ed on @StellarOrg, has created a guide to teach people how to trade assets on the Stellar Decentralized Exchange (SDEX). Check it our here: https://t.co/3NaLcbtX42 #XLM #SLT #blockchain
— Smartlands (@Smartlands) January 3, 2018
They have also been racking up new partnerships, like this one:
— Stellar (@StellarOrg) February 2, 2018
Analysts see Stellar (XLM) in the Top 3
Bitcoinist just did an interview today with a crypto industry pro, and he had some positive things to say about the cryptocurrency market – including the future of Stellar Lumens. David Drake is the Chairman of $200 million crypto fund LDJ Capital. He spoke with Bitcoinist about a number of topics, including the current market slump.
When asked about the future of the crypto sector, he said “It’s here to stay and it’s a permanent force that’s going to be a 10 trillion-dollar market.” He also said that as regulators make their minds up over the next few months, the market is set to take off in March or April – after the SEC figures their business out.
He was also asked which coins he would recommend to his high-end investor clients. This is what he said:
“The contenders against Ether such as EOS and Stellar. They are upcoming contenders for the top three spots and I am very eager to see how quickly they will grow and today its half-price Friday.”
Large investment funds are already leaning toward this coin, clearly. I wonder what this will mean for Stellar’s price in March or April – if his prediction is correct.
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.