The 2019 crypto market continues to be highly competitive, with coins struggling not only to remain relevant but also to outperform their competition.
After the market crash in 2018, this has become a difficult task for many of them, but most of these projects still manage to continue their development and reach to new heights.
One coin that investors have particularly high hopes for is Stellar (XLM), which currently holds the position of 7th largest coin on the top 10 list of largest cryptocurrencies by market cap.
About Stellar (XLM)
Stellar is an open-source protocol and was originally launched in 2014. It aims to deliver a supremely efficient money exchanging protocol. Eventually, their goal is to replace the conventional money exchange systems provided by banks and other financial institutions. In this regard, it is quite similar to the second largest cryptocurrency, XRP, which is often considered to be Stellar’s main competitor.
However, the main difference between the two is that Stellar has dedicated its efforts to providing its services to individuals, while XRP aims to work with banks. The project believes that people should be able to send money as easily as an email.
While faster transaction speeds are needed for all types of transactions, it is believed that Stellar’s blockchain will have an especially large impact on cross-border transactions. While XLM manages to complete transactions in just a few seconds, traditional banks and financial institutions can often take hours, or even days to achieve the same.
Since this is considered by many to be time-wasting and inefficient, the demand for lightning-fast services such as Stellar has grown a lot in recent years. It is one of the main factors which has brought Stellar to the public eye, and why the project received so much popularity.
At present, Stellar has a lot going for it. It is one of the fastest coins in the crypto market, with near-instant transactions and very cheap transaction fees. It has entered numerous smaller partnerships, and its coin is listed on some of the most popular crypto exchanges around the world.
Not only that, but the project also managed to enter a partnership with tech-giant IBM, which hopes to use Stellars near-instant reach to improve its own business and offer better solutions to its customers. Meanwhile, the partnership is also important to Stellar, as gaining support from an influential partner is often crucial for the survival of cryptocurrencies.
Another big partnership for Stellar is the one with Blockchain.com, which was followed by a $125 million-large airdrop.
Finally, Stellar has another great use case which many consider very important for the future of crypto, the blockchain, and different forms of assets, which is asset tokenization. Stellar has an opportunity to lead the STO revolution due to the fact that it is scalable and nearly feeless. Meanwhile, STOs have grown in popularity, and many consider them to be spiritual successors to ICOs, which went extinct in 2018 due to a variety of reasons, such as their dependence on investors’ trust in the project which led to a lot of scams.
Stellar in 2019
Stellar has made a lot of progress in 2018, but its price has failed to reflect this positive development due to a constant bear market. In fact, it continues to drop to this day. While the drop is not as severe as that of Bitcoin of Ethereum, it is still noticeable, and XLM’s price is low as it is, currently sitting at $0.106816 per coin.
Despite this, however, Stellar has a daily trading volume that is constantly above $100 million, and its current market cap is at $2.04
While nobody can know when the next rally is going to start, analysts seem to be convinced that it will happen at some point in 2019. When it does, Stellar may very well be one of the coins leading it, and even if it doesn’t, its value will still benefit thanks to the coin’s high quality and highly sought-after attributes.