Stellar is slowly but steadily climbing the ladder of top trading cryptocurrencies, becoming the 6th largest crypto in the course of the past several weeks as it pushed Litecoin (LTC) down the list.
Stellar Lumens is still continuing with gaining momentum, also trading in the green on September 12th, while not dumping the price, which is considered to be a great sign for the future of XLM.
Moreover, Stellar is posing as a threat to Ripple (XRP) according to some analysts as both projects have the same objective – to provide a swift, secure and cost-effective way of sending global payments.
With the latest announcement, it was stated that Stellar Lumens bought of Chain, a blockchain startup, in order to make a brand new venture that will be called Interstellar, making yet another reason why Stellar Lumens can become your next investment.
Stellar is Forming a New Entity – Interstellar is Coming
Stellar Lumens was issued and launched by the marketing branch of Stellar Foundation called Lightyear with the idea of connecting financial institutions and payment systems through blockchain network.
As of September 5th, later announced and officially confirmed on September 10th, Stellar Lumens have bought a blockchain startup called Chain in order to create a new venture that will become a part of Stellar Lumens institution – Interstellar.
Apparently, Stellar Lumens was able to collect 40 million dollars in private funds since it was first issued back in 2014 while cooperating with giants like NASDAQ, Visa, and IBM.
While Stellar is set to provide its network for IBM’s coming blockchain-based asset described as stable coin, the foundation is working on enabling the tracking of assets between private ledgers on the Stellar network which will come to realization with Interstellar.
While the Stellar foundation is remaining independent in this case, the marketing branch Lightyear and Chain, the recently bought blockchain startup, will make a newly merged venture presented as Interstellar.
Interstellar will thus become a solution that will allow different institutions and organizations to exchange, manage and, issue assets through the public ledger, maintaining high scalability and taking over the customer base as well as enterprise products that were once under Chain startup.
Moreover, Sequence, the cloud service of Chain, will enable tracking of assets as they are being moved across the public ledger.
This way, Stellar is becoming stronger also gaining more momentum in the world of blockchain as well as among financial institutions.
Stellar Lumens (XLM) Price
Although Stellar has shown some amazing performance in the market for the past few weeks, we can again see it dropping against the dollar on daily, weekly and monthly charts.
However, XLM is showing a set of gains of over 1000% in the course of a single year, which tells a lot about the progress of Stellar in the market.
With the latest change Stellar is going up by barely 1% against the dollar, while it is showing -18% on its weekly chart.
Stellar is currently being traded at the price of 0.19$, expecting to see it spiking up additionally against the fiat with the upcoming activation of Interstellar, as well as the anticipated IBM project that should be hosted on the Stellar Lumens network.
