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Why Stellar Lumens Could Be The Next Top Cryptocurrency

Stellar Cryptocoin in Clouds Above Mountaintop

Stellar is an altcoin with huge potential, and it is set to be huge this coming year. The developers have hired blockchain experts to create the best technology that they can.

On top of this, they have already signed partnership deals with high profile companies and individuals to both promote and use the virtual currency.

In just a few weeks, the market capitalisation of Stellar Lumens (XLM) has risen from $2.5billion to a massive $12billion. This happened at a time when the crypto market was pretty much collapsing. Since then, it has dropped a little to $9billion, but this shows the increased popularity in the virtual coin.

Experts have predicted that the market capital could rise to $183billion in just one year. This is ambitious, given that Bitcoin, the worlds largest and most popular cryptocurrency is just $197.86billion. In order for it to hit this figure, Stellar would have increased by 1,700 percent.

The creator of Stellar Lumens, Jed McCaleb, was also the creator of the first ever Bitcoin exchange, Mt. Gox, as well as hoping in the creation of Ripple; the third most popular cryptocurrency.

IBM Logo on Metal Grate

In 2017, IBM announced that it would use the virtual currency to speed up the cross-country transactions in the South Pacific. McCaleb said;

“Currently, cross-border payments tend to take up several days to clear. This new implementation is poised to start a profound change in the South Pacific nations, and once fully scaled by IBM and its banking partners, it could potentially change the way money is moved around the world, helping to improve existing international transactions and advancing financial inclusion in developing nations.”

IBM have predicted great things for Stellar Lumens, and other crypto enthusiasts believe that because Stellar is completely decentralised and that it is completely non profit, XLM could surpass Ripple; its more centralised counterpart.

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Frances is a writer for Crypto Daily, and she is responsible for bringing you the latest news on everything that is related to the Crypto world. She has a keen interest in Cryptocurrencies, and has many years of experience writing in all different roles. She is incredibly passionate about writing, and this combined with her interest into the finance, and virtual currency sector means that you are kept up to date with all of the latest news and information regarding all cryptocurrencies.