Stellar is a blockchain platform and cryptocurrency network created in 2014. The native currency on the Stellar blockchain is the Lumen or XLM, and is designed to support fast and near-zero fee transactions. Like its rival Ripple (XRP), Stellar lumens focuses on cross-border payments. However, its core target is not banks and other major financial institutions but the unbanked of the world.
Stellar uses a consensus protocol that allows for network validators instead of miners, meaning fast transactions and low fees. Since its launch, XLM has traded as one of the top cryptocurrencies and is currently ranked 13th largest by market capitalization.
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Stellar (XLM) is listed for trading on most cryptocurrency exchanges and trading platforms across the world. You can buy XLM at any one of these exchanges and brokers. However, always be advised that it is safer to use a reputable platform that complies with set regulatory standards. In this way, you help protect your money from nefarious actors.
In July 2018, the crypto market was right in the midst of its bearish run. But then IBM announced it would use Stronghold, a USD-backed stablecoin traded on the Stellar blockchain. It marked a major step forward for Stellar, with XLM prices rallying more than 50% at the time of the announcement.
In March 2019, IBM launched its blockchain-based payments platform dubbed the IBM World Wire. The network wants to better the 50-year old aging SWIFT system that has become characterized by slow and expensive transactions.
With the IBM World Wire, banks and other financial institutions have access to a system that allows for cheap, fast and easy global transactions. Apart from using the Stellar blockchain, IBM announced it would use XLM as one of the main assets to be used as a bridge currency. The news saw XLM prices rally highest on that day, gaining over 10% to lead other top 10 cryptocurrencies.
Stellar (XLM) is one of the top cryptocurrencies that investors are looking to buy as prices embark on an upside after a largely bearish year. But how does Stellar XLM price compare with the British Pound (GBP), U.S Dollar and cryptocurrency Ripple (XRP)? Here is a brief price analysis for these assets.
The price of XLM in GBP (£0.047107 at the time of writing), is up 1.82% in the past 24 hours. The XLM price live charts also show that Stellar is strong against Bitcoin at 0.00000662 BTC or 2.00% over the same period. The price of Lumens against the Pound Sterling is up 35% in 2020. However, XLM remains in the red over the past 1 year trading period.
Since 2014, the GBP has only ended the year stronger than the U.S Dollar twice: in 2017 and 2019. GBP/USD historical data shows that on the two occasions, the Pound was +9.51% and +4.04% against the greenback. Incidentally, 2017 saw cryptocurrencies rally to all-time high prices, with XLM hitting its ATH in January 2018. The Brexit vote weakened the Pound in 2016, seeing it end the year 16% down on the buck. In 2020, GBP is struggling to firm up, currently -0.93% down on its value in December 2019.
The U.S Dollar is very popular with traders for its wide use in global trade. Here’s how Stellar’s price compares when paired. Stellar price in USD on January 31, 2020, was $0.062, up 2.5% in 24 hours. The lowest XLM price was against the U.S currency was $0.0004 on March 5, 2015.
XLM made its first major price move in May 2017. Valued at about $0.005 on May 1, Stellar’s price shot to hit $0.062 in 7 days. A look at the XLM’s historical price chart shows that the coin’s value rose 200% on May 7 from $0.02 to $0.06.
Stellar XLM prices peaked again that November and by January 4th, 2018, its price against the USD touched it’s all-time high at $0.93. Prices started on a downtrend in 2018 and continued for much of 2019. In May 2019, XLM/USD jumped 40% on news that the UK-based, Wirex, was to use the Stellar blockchain to issue several stablecoins. XLM price prediction for 2020 suggests XLM/USD is pinging green and could reach $0.5 by the end of the year.
Both Ripple (XRP) and Stellar (XLM) are designed to offer a network for cross-border payments. Both cryptocurrencies have had massive partnerships over the years and look dead beat on upstaging each other. Ripple’s market cap ranks its third-largest while Stellar is off the top 10 today in the 13th spot. Ripple has escrowed much of its coin and releases them periodically, while Stellar recently burned over 50% of its current supply.
But how do the two coins compare in the market? The price of Ripple XRP is $0.23 while XLM trades at $0.062 (January 31, 2020). Both are therefore priced low enough for any investor looking to buy. Over the past 1 month, XRP price has gained 23% whereas the XLM price is 37% up since January 1, 2020.
A look at XRP and XLM price history charts shows that Ripple’s price today is 19% down on its value at the start of 2019. For Stellar, the price of XLM today is 28% lower than it was at the beginning of last year. Looking at the future price of both coins, the market is bullish. Fundamental indicators are strong for both, although they both also could run into a regulatory setback.
XLM lumens price prediction for 2020 has a bullish outlook. Price forecasts are out, and a general growth within the crypto market is expected. The reasons why the price of XLM is likely to rise in 2020 stem from its team, successful partnerships, and market trends.
If you are looking to buy Stellar (XLM) this probably is the opportunity. XLM’s current price is visibly underestimated and the expectation is that it will rise to higher values in 2020. Buying or investing in crypto can be very profitable. However, like with every other investment, risks abound. The advice is to be diligent and when taking risks, be prudent about it.
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