This week was very good for the entire cryptocurrency market, but one coin managed to stand out, compared to the other entries in top 10. Stellar Lumens’ price was in the green all week, the resurgence coming as a relief to owners after the recent period, in which coins saw their prices dropping significantly.
But what could take the price that high?
This week, mobile trading application EToreo announced that Stellar Lumens was added on the trading platform, which currently has more than 6 million registered users. Basically, this is a new market for the coin, offering new opportunities for people interested in XLM.
Over the past months, more and more investors expressed their interest in Stellar, helping it reach the top 10 coins, in terms of market cap. Also, some of them claim that it’s actually a better version of Ripple, which is currently the third coin on the market.
The coin allows larger and faster transactions – less than 5 seconds, to be more specific, a feature which attracted the interest of several companies. Mobius DApp Store is one of them, as CEO David Gobad seems to be a big fan of Stellar, according to a report from CryptoRecorder.
“Ethereum only runs at 7 token transactions per second and transactions can cost more than $0.30 (sometimes multiple dollars!), which is significantly greater than credit card fees,” he said.
“Stellar, on the other hand, runs at ~1,000 transactions per second today and costs fractions of a cent per transaction. Stellar also natively supports multi-sig wallets and has smart contracting capabilities without a Turing complete programming language, so its attack surface is much smaller,” Mr. Gobad added.
Big names are interested in XLM as well
But Mobius is not the only company interested in the coin. Multiple Fortune 500 companies, including IBM and several banks, are already using it, in order to develop International Payment Systems. These should be way faster than any transaction made with altcoins, according to a partnership deal signed in October 2017.
Right now, Stellar Lumens is trading at $0.455 and has a market cap of almost $8.4 billion.