The ongoing month of January 2021 is proving to be an extremely lucrative month for Stellar as its value has gone up by roughly 60% in the last few days, just today Stellar has also hit the 2 years high of $0.41, this recent price hike has once again placed the Stellar in the top 10 list of words biggest cryptocurrencies. Then in the first few days of Jan 2018 it crossed the $0.50 price level and in the same week, Stellar reached the all-time-high of $0.93 (at that point it also hit the peak on the BTC/XLM trading pair and reached 6,300 satoshis-smallest unit of BTC).īut it failed to maintain that price level for long, as within the next three weeks it lost roughly 70% of its value then for months Stellar continued stumbling on the different price levels and during mid-Dec 2018 its price dipped down to less than $0.10 price level and continued on an average price of roughly $0.07 for months until the tail of Nov 2020 and from then on Stellar had been trading at an average price level of $0.15. It surpassed the $0.10 price level in the first week of Dec. Initially, 100 billion XLMs were produced and the number was planned to increase by 1% each year but later the Stellar community voted to curb the XLM supply by 50%, in Oct 2019, as the result of which we now have 50 billion XLMs, Out of which 20 billion are traded, bought and utilized by the Stellar users and remaining 30 billion are held by Stellar foundation to support and promote Stellar adoption as a payment network.Īlso Read: Cardano Price Prediction XLM Price Historyįor years after its launch Stellar never really achieved any significant feet but in Dec 2017. The fixed number of Stellar XLMs were produced when for the first time it went live. Stellar’s XLM unlike Bitcoin or Ethereum nor can be mined neither can be awarded by the protocol. Initially, Stripe also supported Stellar by investing $3 million in seed funding. Later Stellar partnered with Stripe CEO Patrick Collison and they together found Stellar foundation, a not-for-profit organization to support the development and adoption of Stellar Lumens payment network. Jed McCaleb collaborated with the lawyer Joyce Kim and launched Stellar in 2014. Gox (which at one point was the biggest crypto exchange in the world and held more than 70% of Bitcoin) that was declared Bankrupt by Tokyo District Court in April 2014. He is also the co-founder of Ripple, and on the negative side, he is the same man who invented the infamous crypto exchange Mt. he is one of the major contributors to the crypto market, the market we see today owes plenty to Jed him. Jed McCaleb is the mind behind the innovation of Stellar. Fundamentally it is designed to bridge the gaps between the different financial institutes and Its main objective is to create a synchronized environment for all kinds of financial networks. In other words, it is here to support the existing financial system and not to challenge it. One more thing that makes Stellar unique among its peers is its vision to enhance and revolutionize the crypto market. The stellar consensus protocol is the first practical implementation of the FBA (Federated Byzantine Network) protocol idealized by Professor David Mazieres in 2015. Stellar is also famous for its unique consensus protocol which is the first of its kind. Previously it operated on protocol 13 but on the 23rd of November Stellar development fund upgraded the network and now Stellar is operating on protocol 15, which is relatively more suitable and efficient. Though in its nature it is much similar to that of Bitcoin and Ethereum practically it’s quite different from them as it portrays its self essentially as a payment and not as a cryptocurrency. Stellar Blockchain boosts the efficiency of the network, decreases the cost, saves time, and also enables the network to perform cross-border transactions adequately. Steller like all the other famous cryptocurrencies runs across a decentralized network, built on a blockchain that keeps the network synchronized.
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