XLM | Stellar the Brightest STAR in the Blockchain SKY
2024-11-23

Crypto alts pump one by one and star of tonight show is Stellar  

But  What is Stellar ? 

Stellar is an open source, decentralized protocol designed to facilitate the transfer of digital currencies into fiat currencies globally. Its native cryptocurrency, known as Lumen, powers the Stellar blockchain.

The primary goal of Stellar is to bridge financial institutions with blockchain technology, enabling affordable and efficient transactions, particularly in developing markets. Established in 2014 by Ripple cofounder Jed McCaleb, Stellar shares some similarities with Ripple. However, Stellar has distinguished itself as one of the most successful altcoins, with a market cap exceeding $1 billion.

While Ripple primarily caters to banks and large corporations, Stellar focuses on individuals and small businesses. Nonetheless, Stellar’s robust partner network, which includes financial institutions, supports worldwide instant currency conversion.

Initially, the Stellar Foundation issued over 100 billion lumens. However, about half of these were burned in November 2019, reducing the maximum supply to 50 billion lumens. This coin burn briefly boosted XLM's price, though the increase was short-lived.

 Key Features of Stellar and How It Works 

Stellar employs a federated Byzantine agreement aka FBA algorithm instead of traditional mining for transaction validation. This unique approach eliminates the need for approval from cryptocurrency miners, enabling faster transactions compared to many other blockchain systems.(only nerds read this part!)

 What is Stellar Used For? 

Stellar is primarily designed to streamline cross-border payments. Its mission is to make international transfers quick, affordable, and user-friendly. The system works by converting the sender's currency into Lumens, which is then converted into the recipient’s currency.

For instance, if someone sends GBP from the UK to Russia, the Stellar network first converts the GBP into Lumens and then into rubles. Users typically access the network through partners like Stripe or Wirex, which provide services integrated with bank cards. Transfers are processed in approximately five seconds.

Where to Buy XLM

XLM is available on both centralized and decentralized exchanges (CEXs & DEXs) 

 Stellar Price Info

- Current Price**: $0.43 (up by +54% in the last 24 hours)  YES, BIG ALTS CAN PUMP HARD TOO  
- All Time High (ATH): $0.94, achieved on January 4, 2018, currently down -54% from its ATH.  
- Circulating Supply: 30.01 billion lumens.  
- Maximum Supply: 50 billion lumens.  
- 24Hour Trading Volume: $3.14 billion.  
- Most Active Market: Upbit.  
- Market Share: 0.37% of the total cryptocurrency market.  
- Market Capitalization: $13.06 billion.  

 XRP and XLM: The Batman and Robin of Global Finance 

The World Bank and other major financial authorities are increasingly acknowledging XLM & XRP's potential as a game-changing tool in the global financial ecosystem. Versan Aljarrah, founder of Black Swan Capitalist, recently emphasized this in a post on Twitter, discussing the significant roles XRP and XLM could play in shaping the new global financial system.

Aljarrah pointed out that XRP is specifically designed to enhance institutional liquidity for cross-border transactions, making it a vital asset in the evolving landscape of global finance. Meanwhile, XLM offers a robust infrastructure tailored for efficient peer-to-peer transactions, positioning it as a key player in facilitating everyday financial interactions

Technical analysis 
Xlm bulls broke 0.15$ major resistance and now ready to break the second wall which is 0.45$, if btc pullback then Xlm correct then gets ready for second pump,next targets are 0.53, 0.57 and 0.59$. most indicators shows bullish signals and the volume looks good 
