One of the most pleasant surprises among the first 10 cryprocurrencies of the moment is Stellar. Until now ignored by many, since it doesn’t look like one coin able to bring quick profits, Stellar Lumens ended 2017 at over $0.50. Twelve days later, it surpassed $0.65 after a very difficult week and it looks like it could grow even more.
Stellar is a currency designed to modernize the financial sector, says The Merkle, and has been closely watched by potential investors ever since it hit $0.10. However, over the past weeks, its value kept rising, despite several market opposition, caused by Bitcoin’s struggles.
December was a great month for Stellar!
The record high was $0.91, which was definitely a very important step forward for an asset which, back in early December, was worth under $0.20. But this didn’t come as a surprise, at a second thought, since a lot of currencies saw ridiculously big value increases last month, with Ripple being one of the best examples.
Don’t get too excited, though, as Stellar’s price totally depends on how Bitcoin evolves, so considering that the leading cryptocurrency of the moment is seriously struggling, it was somehow expected to see XLM (its abbreviation) drop to $0.44 earlier this week.
Right now, it’s just a bit too early to talk about the coin’s future and the possibility of reaching a new all-time high, but at this stage, anything is possible.
Will the market cap increase soon?
The 24-hour trading volume is at just $439.82 million, so it’s obvious that things aren’t looking too impressive, especially considering that not that long ago, the asses had a daily trading volume of over $1 billion. But cryptocurrency markets are still recovering after the false information about South Korean exchanges started spreading like crazy.
It will be very interesting to see how Stellar will evolve over the weekend, considering that on Friday, most coins did very well, recovering nicely after a few negative days, in terms of price.
What are your thoughts on this cryptocurrency? Do you think it has the power to become even bigger?