Stellar is the stand out cryptocurrency at the moment. As we enter a second day of general declines, Stellar remains as one of the few currencies making significant gains, suggesting that Stellar could lead the markets onto a more positive trajectory soon enough.
Whilst Stellar seems to have a long way to go before reaching it’s all time peak value of $0.85, as recorded at the start of 2018, we should consider that now, Stellar is almost half way to reaching this point once more. If the recent performance from EOS is anything to go by, this halfway-to-peak point is significant. Perhaps once Stellar manages to breach $0.50, we could see its value soar.
How is Stellar performing now?
At the time of writing, Stellar is valued at $0.444 and is up 2.68%. Bearing in mind that it’s neighbours, EOS and Cardano are down 5.43% and 0.03% respectively, you could argue that Stellar is performing exceedingly well.
Let’s consider that very recently, Hong Kong based exchange OKEx have recently added Stellar under trading pairs. Bearing in mind OKEx is considered to be the fifth largest exchange platform in the world based on trading volume. Since this seems to coincide with a new rise in Stellar’s value, we could argue that this listing has really benefitted Stellar and XLM.
Moreover, it transpires that Stellar and IBM will be working together to develop cross-border transfer systems in one of the first partnerships of late that could be considered a direct threat to the monopoly Ripple are seemingly trying to build through xRapid and xCurrent adoption.
What will happen next for Stellar?
Okay, of course the announcements and integrations above are significant, but they won’t cause this upwards trend to last forever. Before long, the general consensus of market depression may indeed catch up with Stellar, causing an air of correction. This however wouldn’t necessarily be a bad thing, assuming Stellar can pick back up at $0.50 and can maintain at that value.
If we see another market surge soon, and Stellar remains to hold at $0.50 then we could see XLM rack up some serious value and head towards it’s peak value of $0.85, once this threshold has been met, there really is nothing stopping XLM from reaching $1.00.
This is a currency that is expressing a great desire and a great capacity to grow. It’s current good run may indeed come to an end soon enough but this should not be a concern, Stellar will recover from this and should continue to move upwards, once the markets clear a path for it to do so.