The sixth best cryptocurrency has added 7% to its value over the past 24 hours. Stellar also reached a transaction volume of $3.18 million.
Speaking at the MoneyShow conference in San Francisco last week, well-known Bitcoin and digital currency advocate Charlie Shrem shared his thoughts with Yahoo Finance reporters:
“Hold any cryptocurrency you decide to buy for five years. Hold your assets securely, and the likelihood of you making a profit will be extremely high. Why? Because bearish and bullish cycles usually change every two years,” Shrem said. “I always tell people who want to buy cryptocurrency: “how much money do you mind losing?” “$500” they tell me. So invest $500 in a range of digital assets, and learn more about them, study them.”
Until recently, 2018 was a terrible year for Stellar investors. On January 2, this cryptocurrency cost $0.88, but in six months its price fell by 80% and by July 12 it was only $0.18. However, keep in mind the nature of bidirectional cryptocurrency volatility. On December 21, the price of Stellar was $0.204, and in less than a couple of weeks it increased by 331%.
Today the cost of the coin has reached $0.23. By July, XLM had overtaken Litecoin to become the sixth-best cryptocurrency. Today, Stellar Lumens' market capitalization has exceeded $4.2 billion.
XLM helps to conduct fast and secure transactions of different currencies around the world. This blockchain network has every chance to gain momentum again as soon as the market turns bullish again. After all, Stellar is currently backed by tech giant IBM, which is looking to leverage the Stellar network to create its first token on a public blockchain.
Additionally, despite 2018 not being the best year for cryptocurrencies, according to the company's official Twitter account, Stellar has achieved considerable success - reaching 1 million active users, 25 million payments and 8 million transactions. Considering the unfavorable situation in the digital asset market, we can say that Stellar coped well with the challenges - and even managed to overtake one of the altcoins.
XLM has every chance to break into the top three leaders.
According to nasdaq.com
You May Also Like
The future of Bitcoin Cash is apocalyptic
Initially, in the first weeks of November, the price of Bitcoin Cash (BCH) rose. Investors have begun to accumulate the asset ahead of the upcoming fork and network split, during which holders of the main asset will also receive a new cryptocurrency, BSV. Why did the price drop by 81%?
Bitcoin SV promises to serve 5 billion users per day
According to the project's lead engineer, Bitcoin SV's scalability ensures that it will one day be able to serve billions of people on a daily basis.
