Stellar Lumens (XLM), popularly known as Stellar, is indeed making waves. Stellar, which was launched in July 2014, unseated some top names to occupy the fourth rank among cryptocurrencies in 2018. The crypto started off 2017 on a spectacular note, recording a whopping 250% growth and achieving a market cap of 3 billion as of November 2018. On the back of this wonderful uptrend, Stellar is expected to increase in price to $1.00 in 2019, a rise of 4x from its current valuation. Some dub this disruptive currency as the “future of banking” and many others state that Stellar could be the next big platform for Initial Coin Offerings (ICOs).
Stellar has been able to shake up some big cryptos such as Ethereum, Ripple and Litecoin. In terms of popularity too, it is on the same page as the big names.
Stellar All Set to Scale New Highs
Stellar’s phenomenal success is not concentrated in the US alone. Across the Atlantic, Stellar is gaining popularity in the UK too. Stellar’s increasing renown in the UK is also visible from the growing number of enquiries on the various websites about how to buy Stellar Lumens in the UK. Lack of mainstream adoption was cited as one of the hurdles in Stellar’s progress. However, in end-2017, Stellar Development Foundation partnered with SatoshiPay and sought to correct this perception. SatoshiPay is a London-headquartered company that processes micropayment transactions and is a digital pocket-change wallet that allows users to conduct internet payments. SatoshiPay will use Stellar as the underlying cryptocurrency ledger for its nano-payment system. This will be a springboard for its leapfrogging success. Further, SatoshiPay has tied up with The Register, a tech website with four million visitors, giving Stellar a reach to this vast cyber population.
Cryptocurrencies are complicated assets and there are numerous factors that can drive their growth. If you are planning to by Stellar in the UK, you should know some factors that are driving its growth and are responsible for this cryptocurrency jumping up the pecking order to occupy the fourth rank.
- Stellar is backed by Jed McCaleb, its co-founder, who is a programmer at heart. McCaleb is also the founder of the ill-fated Mt GOX and the crypto Ripples. Stellar was designed along Ripple’s best practices, and it has some new and more advanced features that make it an even better digital currency. As the Chief Technology Officer at Stellar, he drives innovation and breakthrough. Some prestigious people McCaleb brought on board include Patrick Collision of Stripe, Sam Altman of Y Combinator, and Matt Mullenweg of WordPress. One of the most successfully launched cryptos in history, Stellar is vigorously focusing on expanding its partnership list so that it can achieve a wider reach for its technology of enhancing payment transfer, which is being constantly improved by a dedicated team. Some of its partnerships include IBM and Stripe, besides payments processors such as SatoshiPay.
- Stellar is decentralised and it runs an open ledger, in keeping with the core principles of cryptocurrency.
- Following the launch of Stellar, 100 billion XLM were created. The Stellar Development Foundation ensures that 95% of XLM are distributed the world over, making distribution one of its strengths.
Given its strident march and optimistic predictions for 2019, Stellar is set to dazzle and spread its luminescence to millions of crypto investors.
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