Stellar (XLM) Keeps Gaining Prominence, Awaits Altcoin Season

The platform attracted the KIN token, and keeps positioning itself as an alternative to Ethereum.

Stellar (XLM) keeps establishing itself as one of the leading platform coins, and moving up in market prices as well. XLM is up more than 14% in the last day in the green, at $0.24, having quite a few steady days of recovery against Bitcoin.

While the Stellar platform is not openly competing with Ethereum, the system is seeing renewed interest and a potential to serve as an alternative to ICOs and other projects seeking an ecosystem for distributed apps.

The Stellar project competes with a promise for much faster transactions – an appealing proposition where it turns out on-chain transactions do not scale easily, and the speed of exchanges or distributed apps is still a factor for the commercial use of blockchain solutions.

But there is a severe criticism on how Stellar achieves this technological feat. The system uses anchors – issuers of credit within the Stellar ecosystem, which act like banks, and only issue a centralized balance. Of course, this is seen as contrary to the digital currency principle, where each asset is secured by cryptography and the system is trust less – there is no reliance on persons or entities to respect the balance, since it is automatically computed.

However, XLM remains among the speculative assets, and its relatively low price may be promising at this point, especially after the altcoin markets are going into a short-term recovery phase.

Additionally, the Stellar project has been rather silent on new developments, barring an upcoming address by the founder, Jed McCaleb.

At the moment, the XLM digital asset may enjoy the attention of Asian traders, but also the US-based community, through the availability on Binance and Poloniex. The growth of XLM has been relatively low compared to hotter booming assets, but in cases of a fast recovery, the price may reach new highs. So far, XLM has certainly gained positions and trading volumes compared to its position in December.


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AuthorĀ Christine Masters

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