The cryptocurrency space is becoming bullish, and it is positively affecting all coins. The increasing growth of Stellar alongside the recovery of the cryptomarket in recent time is surprising. Stellar is succeeding to remain and may soon be counted as one of the top 5 coins in the market.
Now, according to CoinMarketCap, Stellar has a Market Cap of $8.3 Billion, and a trade price of $0.449.
Why The Bull Run?
Stellar’s bull run can be linked to its recent partnerships and the general upward movement of the cryptomarket. A few days ago, XLM partnered with Novatti Group, a go-to global fintech and systems integration provider. Not only that, Stellar also partnered IBM. It has in the past partnered Kin Foundation. These partnerships are a good sign that Stellar is slowly being adopted by the different industries, which further solidifies the legitimacy of the cryptocurrencty.
Like Ripple, Stellar is also branded as a distributed payment technology that is completely open-source. It is founded by Ripple’s co-founder, Jed McCaleb. Stellar was initially using the same protocol with Ripple. It is a cross border payment technology designed to get rid of the connectivity problems encountered between financial institutions, while simultaneously reducing the cost and time of transaction. Stellar solves bank loan distribution and remittance problems.
To make the world financially habitable, Stellar technology creates a nexus between banks, payments tools, and people. Stellar protocol makes it easy to achieve multinational fund and asset transfer in a reliable, quick, and cheap manner employing Stellar Lumens (XLM).
1. Jed McCaleb
Before co-founding Stellar Development Foundation, Jed McCaleb co-founded and served as the CTO of Ripple. He was the creator of eDonkey and Overnet network. McCaleb is also known for creating Mt. Gox, the first known and respected Bitcoin exchange.
2. David Mazières
Aside from being the Chief Scientist at Stellar Development Foundation, David Mazières is a scholar, a professor of Computer Science at Stanford University. He studied at Harvard, MIT. He researches on Distributed System and Operating Systems while focusing on security. Mazières, as a scientist, has received several distinguished awards like year 2000’s MIT Sprowls Best Thesis in Computer Science award, Oakland Distinguished Paper Award received in year 2014, and the Sloan Award received in 2002, among other notable award.
All in all, Stellar Lumens is a promising project that is slowly moving in to mainstream adoption. With its good partnerships and talented operating team, Stellar Lumens is set to fly and join the top 5 coins in the cryptomarket.