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Stellar Lumens Price Summary
At the time of writing, Stellar Lumens was trading at $0.071 with a market cap of $1,428,225.849. Although XLM has a low trading value, in September of 2020, recent projections indicated that this once top ten cryptocurrency is again on the rise and could rapidly accelerate in the near future.
Over the years, this cryptocurrency has experienced varying levels of success. As with most cryptocurrencies, Stellar has achieved market highs and lows. The XLM current trading value is admittedly far lower than its once trading high of $0.875 in 2018. After experiencing a few years of stagnation, this digital currency is beginning to make a comeback on the markets.
Stellar Lumens has always had a respectable reputation, so it shouldn’t come as a surprise that despite recent lows and market volatility, investors and traders alike are still interested in this decentralised platform. Try to always remember that due to volatility surrounding cryptocurrencies, it’s crucial to trade responsibly as prices are not set in stone and are often changing. This volatility can, however, often be used to an investor or traders’ advantage.
Stellar Lumens Price History
Like most cryptocurrencies, Stellar’s value is mostly driven by market speculation based on revolving trends. This digital currency displayed a downwards turn over the past few years; however, things appear to be potentially improving for XLM.
In January 2018, Stellar Lumen reached an all-time high; however, the subsequent bear market and crypto winter caused it to be one of the market’s worst-performing altcoins. XLM fell a shatteringly 90% from the value it once held. In 2019, this cryptocurrency didn’t fare much better as the coin only managed to reach a high of $0.16 with a new record low of $0.03. Stellar Lumens seems to be rising from the bear market bottom and rallying in 2020. Some key events have undoubtedly affected XLM and analysing these can perhaps allow for future foresight.
The CEO of the Stellar Lumens development foundation recently suggested in 2020 that the Stellar blockchain would be an ideal basis for which the digital dollar could be tested. This public suggestion positively affected the cryptocurrency and has further increased investor interest. The price of XLM on the market was also favourably affected following this announcement.
Additionally, another notable event that has positively contributed to the rising value of Stellar Lumens is the $5 million investment in wallet provider Alba. This investment will enable Stellar Lumens to offer new financial products on the stellar blockchain.
Incredibly the National Bank of Ukraine recently, towards the beginning of 2020 revealed an analytical report stating that it initiated a pilot project of a central bank fiat currency based on the protocols of Stellar Lumen. This helped to solidify not only Stellar Lumens’ rising potential but also boosted cryptocurrency credibility.
The coronavirus pandemic of 2020 has positively influenced and impacted the price of Stellar Lumens. This directly contrasts with the negative impact that the pandemic has had on most traditional economic markets. Many have been flocking to cryptocurrencies like Stellar Lumens as an alternative to conventional equities and bond markets. XLM has managed to double its value during the pandemic to nearly $0.07.
Stellar Lumen Price Prediction
Before we delve into the price predictions for Stellar Lumens, it is essential to mention that responsible crypto trading is a top priority, especially if you want to succeed. Various developments pertaining to Stellar Lumens have to be examined to attempt price predictions for 2020 and beyond.
It is vital to consider global events and expert trading opinions to determine if the investment option holds any promise. Technical analysis tools should also be used as they will aid in the price prediction process.
The coronavirus pandemic is here for the long term. This global event is going to continue impacting the price of Stellar Lumens. While this is sure to be a trying period for traditional investment avenues, consistent evidence points towards it becoming a bullish period for Stellar Lumens alongside other cryptocurrencies. The XLM coin is set to make further gains during the remainder of 2020, as increased investor interest is turned towards the crypto markets.
According to many expert opinions, Stellar Lumens is predicted to potentially increase more than it already has this year as well. Various reports have this digital currency moving within a range of $0.351 to as high as $4.
Price prediction charts for 2020 are showing that a fractal has formed. This fractal is looking almost identical to the last consolidation period that saw the enormous surge in the value of XLM back in 2017. Could this be an indication of Stellar Lumens being on course to set a new high?
Many experts backed by technical analysis data have stated that Stellar Lumens has the potential to continue to grow and reach new heights in the years to come. Some predictions have claimed that the cryptocurrency could be trading at $22 per XLM token in 2021, although with the unpredictable nature of 2020, parity with the dollar would be much more likely. Onwards of 2021, many positive indicators foretell Stellar Lumens’ potential for success in the long term.
Expert Tip on the Price of XLM
Stellar lumens is predominantly focused more on individuals than corporations. Stellar’s aim is to develop a global platform that allows decentralized and open-source payments. Specifically, Stellar Lumens is ambitiously developing its network to potentially reduce poverty by allowing extremely low costing cross-border transfers. This digital currency is making leaping strides to revolutionising how money is distributed. On the network, owning an amount of Lumens allows you to transfer money anywhere in the world efficiently and affordably. This could give the coin great future relevance as a focus on Universal Basic Income increases.
About Stellar Lumen
Jeb McCaleb founded Stellar Lumen in July of 2014. The Stellar network is an open-source blockchain payment system. It aims to connect financial institutions and ultimately reduce transaction costs and lengthy waiting times. Stellar additionally has its own successful cryptocurrency, Lumens (XLM), hence the name Stellar Lumens. This digital currency differs from traditional mining networks like Bitcoin and uses a Federated Byzantine Agreement (FBA) algorithm instead to validate transactions.
Stellar Lumens is one of the most credible cryptocurrency projects that exist. The numerous partnerships have undoubtedly helped to substantiate this. Partnerships with companies Alba, Elliptic, IBM, and Deloitte give investors and traders a sense of security that they may not feel with other cryptocurrencies.
The Stellar Development Foundation also has many ongoing projects with several companies. These projects could have a significant influence on XLM’s price in years to come. Some of the companies that Stellar is involved with include; Satoshi Play, Sure Remit, and Tempo.
The numerous partnerships and projects could bode well for future price trends as the greater the community base, the more solidified in the market Stellar Lumens will become.
Stellar Lumen Value Compared to Other Cryptocurrencies
Yes, it is digital money. Stellar Lumens has a good foundation as a monetary platform, and the digital currency Lumens can be used in the purchasing of goods and services.
Stellar Lumens has shown some stability and even growth during the unpredictable year of 2020. This is taken by some to be a positive signal for an investment opportunity.
Stellar Lumens operates on a similar basis to Bitcoin and has been showing good price trends in 2020; there are also many projects and partnerships that are inspiring confidence in the longevity of the project and the coin.
The price of XLM is influenced by a number of factors, including global events, news articles, expert opinions, and investor interest.
No. As stellar is likely to keep pace by reducing the minimum balance requirement and the per-transaction Lumen cost.