The coin burn caused a short-term rise in the price of XLM, however, this quickly faded. The Stellar Foundation originally had over 100 billion lumens in existence but roughly half of its outstanding coins were burned in November 2019. There is a maximum supply of 50 billion Lumen. This includes banks and allows the network to provide instant currency conversion almost all over the world. However, Stellar does have an extensive partner network. Where Ripple has banks and large corporations as its target audience, Stellar is more targeted towards individuals and small businesses. Stellar has since become one of the best-performing altcoins over the last five years and its market cap now stands at over $1 billion.ĭespite their similarities, Ripple and Stellar are aimed at different audiences. Stellar was created by Ripple co-founder, Jed McCaleb, in 2014, as such, both networks share some underlying similarities. The main purpose of Stellar is to connect financial institutions to blockchain technology and facilitate cheaper transactions in developing markets. The Stellar blockchain's cryptocurrency is called the Lumen, and trades under the symbol XLM.
CURRENT STELLAR LUMEN PRICE CODE
The SDF has also launched a community fund which allows members of the Stellar community to have a say in which projects working on Stellar receive funding from the foundation.Stellar is a decentralized protocol based on open-source code built for transferring digital currency to fiat money to any place in the world. The foundation is a non-profit organization which also supports the Stellar ecosystem by promoting the usage of the Stellar protocol through airdrops, grants and other mechanisms. One of the key players in the Stellar ecosystem is the Stellar Development Foundation (SDF), which funds the development of the open-source Stellar protocol and maintains the Stellar codebase. The Stellar protocol also has a built-in decentralized exchange functionality where users can create buy and sell orders through the protocol itself – this feature can be accessed through interfaces such as StellarX. For this reason, some ICOs and STOs have selected Stellar as their platform of choice. However, XLM is not the only asset that can be transferred through the Stellar blockchain – users can create custom tokens that can be transacted quickly and efficiently. Due to the network’s speed, fluctuations in the XLM price have a very limited impact on the transaction. For example, Alice can send EUR to Bob, and Bob receives USD on the other end of the transaction. XLM is also designed to be used as a bridge currency to facilitate cross-border transfers between different currencies. While XLM can be used for peer-to-peer transactions just like any other cryptocurrency, it also performs a role in the Stellar blockchain as a defense mechanism against spam transactions – a small fee of XLM is necessary to complete each transaction. The native asset of the Stellar blockchain is called lumens, and is commonly described with the ticker XLM. Users can create custom tokens on the Stellar blockchain.XLM can be used as a bridge currency for international payments.You can read more on this topic in our in-depth article on Stellar (XLM). However, the XRP and Stellar blockchains are still often compared since they both offer fast and cheap transactions and share some common history. At the beginning, Stellar shared a lot of its code with the XRP ledger, but the project has since taken on unique characteristics of its own. Stellar is a blockchain project founded in 2014 by Ripple co-founder Jed McCaleb and venture capital investor Joyce Kim. In terms of market cap, Stellar is currently ranked #1 in the Stellar Network sector and ranked #14 in the Layer 1 sector. The current yearly supply inflation rate is 8.17% meaning 2.05B XLM were created in the last year. Stellar's current circulating supply is 27.19B XLM out of max supply of 50.00B XLM. The Stellar price prediction sentiment is currently bullish, while Fear & Greed Index is showing 51 (Neutral). The highest XLM price since the last cycle low was $ 0.796465 (cycle high). The lowest price since it's ATH was $ 0.027660 (cycle low). Stellar reached its highest price on when it was trading at its all-time high of $ 0.930121, while Stellar's lowest price was recorded on when it was trading at its all-time low of $ 0.001227. The XLM price increased 11.93% in the last 24 hours. Stellar price today is $ 0.159916 with a 24-hour trading volume of $ 1.06B, market cap of $ 4.35B, and market dominance of 0.36%.
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