Stellar’s Lumen (XLM), a cryptocurrency that has been garnering lots of investor attention recently, may soon make its way into the top four cryptocurrencies after a great performance in the past week.
As of Wednesday, 18th July, the currency had surged to a two-month high of around $0.31, indicating that interest in the currency is burgeoning. Indeed, with an upward turn seen across many other cryptocurrencies including Bitcoin over the past few days, now is a good time to be looking into the sector.
The potential for a Stellar bullrun is starting to rise in accordance with the cryptocurrency community’s recent realisation of the currency’s power. As such, it is quickly gaining a reputation as an innovator in the crypto world thanks to its ambitions to move money like email.
Indeed, the emergence of Stellar is one component in a paradigm shift in the way we look at money and the internet, and is part of a more general trend peddled by technologies such as Ripple XRP.
Anyone interested in Stellar should do their research before investing in the cryptocurrency, as the space is characteristically volatile. What’s more, Stellar Lumens are only supported by a few rather obscure wallets. Most of the popular multi-asset wallets including Jaxx and Exodus are unable to support it.
However, it should also be noted that Stellar is an exciting currency to be getting involved with right now, as it is at the forefront of cryptocurrency, demonstrating how far the industry has the potential to go. Stellar brands itself as a great way for people to shift money and optimise the ways they save. Furthermore, once Stellar is adopted on a wider scale, it is likely that major wallet makers will start developing new Stellar-friendly wallets that are secure and simple to use.