Stellar (XLM) has had a rocky but successful year so far, both in price and technical developments. The recent release of StellarX, the decentralized exchange is set to push Stellar towards greater heights. The coin is currently way undervalued at $0.24 with StellarX expected to realize the hidden potential Stellar holds in future.
The world of cryptocurrency has seen a contrasting landscape during 2018, making it the most important year yet since the advent of blockchain technologies back in ’09. The year started off at a high with most of the coins reached their all-time highs (ATH) during this period. However, the influx of cryptocurrency projects saw some investors lose their investments in bogus projects that fell as soon as they completed their ICOs.
As the year wore on, the prices of most coins fell significantly across the board as a massive sell off ensued on the crypto market. In the turmoil and confusion, more investors lost more cash as they sold their overpriced coins that were bought at ATH prices during the year. The strong bearish trend has however helped the crypto world get rid of these scams that were creeping up at a very fast rate. This helped the blockchain development teams concentrate on developing and improving their blockchain platforms.
The rocky but successful year of Stellar
One coin that has had a stellar year so far is Stellar (XLM), comparing it to the other projects on the top 10 market cap list. Currently placed at position 6 on the market cap listings, XLM remains one of the biggest movers on the charts during the year. The magnificent run is represented by the moves seen on the charts as the coin soared over 40 places up since November last year.
Don’t get it wrong though, the coin is only third to Ripple (XRP) and Cardano (ADA) on the number of circulating coins in the top 10 cryptocurrencies at over 18 Billion XLM tokens currently in circulation. This greatly affects the market cap values and overall positions on the ranks but does not shade the stellar achievements of Stellar at all.
The coin currently trades at $0.242978 USD per coin representing a 0.5% drop in price in the last 24 hours. At 72% drop since its ATH, XLM performs better than coins such as XRP and Ethereum, both have dropped over 84% since their ATH.
The StellarX decentralized exchange
The Stellar Organization has made rapid developments on the platform as well as addition of XLM to multiple exchanges in 2018 including the rising Robinhood crypto exchange.
However, it is the recent launch of StellarX decentralized exchange, the latest development from Stellar Organization that is set to propel the project to greater heights in the coming months. With the exchange offering free trading and even reimbursing the user for the network costs.
“StellarX is built on Stellar’s universal order book. Trades happen directly between traders. No middlemen, no miners. You trade from your own wallet and keep total control of your keys. Transactions settle in seconds, and trading on StellarX costs nothing. We refund your network fees and we even return Stellar’s automatic 1% APR inflation to our users, keeping none of the weekly airdrops for ourselves.” – StellarX official website.