To understand XLM price forecasts that we present later in this article, you need to know where it came form. Like all cryptocurrencies, their value is driven primarily by speculation in their current state. Trade Stellar Lumens Stellar Lumens Price History And Long Term Price Potential ICOs can be conducted on the Stellar blockchain, and the Kin cryptocurrency token was among the first to do so, however, the popularity of Ethereum for this task makes Stellar lumens less used for this purpose. Stellar lumens has partnered with the likes of IBM on their hyperledger project, giving the project much needed credence and validity in the crypto space. It gained popularity early on and is still amongst the more popular assets today. The transparency, support from early crypto pioneers, and a focus on the unbanked make XLM or Stellar lumens a favorite amongst the cryptocurrency community. The Stellar Foundation provides clear and transparent accounting of these funds that anyone interested in seeing can review. Of these 50 billion, 20 billion are bought, traded, and used across the open market, while the Stellar Foundation holds the remainder to use toward promoting Stellar adoption. Now there are about 50 billion lumens, total, in existence, and no more lumens will ever be created due to the now fixed supply. And in November 2019, the overall lumen supply was reduced. That inflation mechanism was ended by community vote in October 2019. Later, the Stellar lumens supply was reduced by half, so roughly 50 billion XLM remain, with no new XLM to ever be created henceforth. The Stellar supply was set to grow 1% per year but later this inflation mechanism was removed due to community vote. Instead, 100 billion XLM coins were minted when the Stellar network went live. Unlike Bitcoin, Stellar lumens aren’t mined or awarded by the protocol over time. Many confuse XLM to be an XRP fork, and while the assets share many similarities and aim to disrupt similar industries, McCaleb says the codes are different, and the Stellar Foundation’s goals are wildly different than that of Ripple’s. Like Bitcoin and Ethereum, Stellar relies on blockchain to power the network, but the result is a much faster, cheaper solution. has no owner if anything it’s owned by the public. Stellar is decentralized and isn’t controlled by any third-party, despite the involvement of the Stellar Foundation. Stellar acts as a bridge across multiple currencies so they can all function across the same financial network. Stellar is an open-source network for any type of currencies or payments, even dollars or Bitcoin. Lumens, or XLM, act as the native cryptocurrency asset that powers the Stellar blockchain network. Now, today, Stellar functions as a disruptive solution for cross-border payment, and an option for the unbanked to have access to a store of wealth and means of transfer, all with extremely minimal fees. Stellar Foundation has since received funding from many other partners. Later they formed The Stellar Foundation in close collaboration with Stripe CEO Patrick Collinson, a not-for-profit organization that supports the development and adoption of the Stellar Lumens payment network.Ĭollinson and Stripe supported Stellar with over $3 million in seed funding. McCaleb partnered with lawyer Joyce Kim to launch the project. His early work in the industry is part of what made the space what it is today. Gox and was a co-founder of another altcoin, Ripple. Stellar Lumens was first launched in 2014 by Jed McCaleb, a pioneer in the cryptocurrency space, who is also responsible for founding Mt. After all, it is impossible to do a XLM prediction without understand the market itself. What is Stellar Lumens (XLM) Coin?Īny XLM forecast will have to begin with an understanding of the coin’s history. XLM price has changed by -0.2% in the last 24 hours. The 24-hour trading volume amounts to $114848796 USD. Today (16 August 2023) Stellar Lumens ( XLM/USD) is trading at $0.1299 per XLM, with a market cap of $3559796814 USD.
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