The Stellar Lumens is a virtual currency developed by Stellar Development Foundation. The organization's currency, which is called the lumen, is traded on various cryptocurrency exchanges. Lumens can be used by traders on the Stellar network, which is a blockchain-based distributed ledger network that connects banks, payments systems, and people to facilitate low-cost, cross-asset transfers of value, including payments.
Background Info
Stellar is operated by the Stellar Development Foundation, a nonprofit organization founded by Jed McCaleb. The Stellar project received initial funding from the payments startup Stripe, along with donations from organizations like BlackRock, Google, and FastForward. The organization covers its operational costs by accepting tax-deductible public donations. In 2018, Stellar signed a deal with TransferTo for cross-border payments to more than 70 nations. It also became the first distributed technology ledger to obtain a Shariah-compliance certificate for payments and asset tokenization and was selected as a partner by IBM for a double-pegged stablecoin project.
Key Features
Stellar is a decentralized protocol on open-source code to transfer digital currency to fiat money domestically and across borders.
Mining XLM tokens
Unlike the tokens of other blockchains, lumens aren’t mined or awarded by the protocol over time. Instead, 100 billion lumens were created when the Stellar network went live, and for the first 5 or so years of Stellar’s existence, the supply of lumens also increased by 1% annually, by design.
XLM Token Wallet
The secure and reliable wallets are provided by the Stellar Lumens team on its official website.
There are three types of wallets:-
Keybase - Keybase is an encrypted communication app with a built-in Stellar wallet.
Solar Wallet - Solar Wallet is a Stellar wallet with DEX and multi-signature support.
Lobstr - Lobstr is a mobile and web wallet with DEX and multi-signature support.
Market Cap
XLM has a market cap of $6,067,011,543. It has a circulating supply of 23,252,223,196 XLM coins and a max. supply of 50,001,806,812 XLM coins.
XLM Coin Current Price
The current price is $0.247 per coin.
XLM Coin Price Prediction 2021
The price might reach $0.68 per coin by the end of 2021.
XLM Coin Price Prediction 2025
The price might reach $6.0 per coin by the year 2025.
Conclusion
Stellar Lumens is a good investment for the future. Stellar’s primary focus is on developing economies in the areas of remittance and bank loans to those who are outside of the scope of the banking services. Stellar doesn't charge individuals or institutions for using the network. The price has fallen from $0.79 to $0.25, and still, it's not stable so this can be risky to invest in sinking crypto but it can also be an opportunity. The technical and chart analysis can't be done until the BTC get out of the bearish trend. Once the BTC get out of the bearish trend, then an improvement might occur in stellar's performance. For now, do more research, once you feel it's a good option then you can invest in XLM with a small amount to get started.
Where to Buy XLM Coin?
The exchange platforms which are providing the opportunity to trade XLM coins are:-
Coinbase.
Kraken.
Binance.
Bittrex.
Bitfinex.
UpBit.
Coincheck.
Huobi.
NovaDAX.
GMO Coin
disclaimer: I am not a financial advisor. Kindly do your own research before making any decision. I am not responsible for any financial loss. You are solely independent to make your decisions. I do my own research before investing and then share my experience so others might get benefit from my little knowledge. The article is completely written by myself. No part of the article is copied from any source or website.
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