XLM is the native coin of the fully decentralized Stellar consensus platform. It was launched in 2014 as a hard fork (offshoot) of the Ripple cryptocurrency. A year later, XLM switched to its own protocol. One of the Ripple founders, Jed McCaleb, leads the development team.
Stellar's goal is to make online transfers (digital and fiat currencies) more convenient by bringing together banks, payment systems, and individuals. Stellar has a built-in decentralized exchange that can trade any asset. The project has many large partners from various industries: IBM, Samsung, Smartlands, HTC Exodus, Deloitte, etc.
Stellar's goal is to make online transfers (digital and fiat currencies) more convenient by bringing together banks, payment systems, and individuals. Stellar has a built-in decentralized exchange that can trade any asset.
What determines the XLM/USD exchange rate? First of all, it depends on the general situation in the market. Bitcoin sets the main trend, and most cryptocurrencies follow its direction. XLM mostly follows BTC, but a chance of a correction should not be ruled out. This was the case in 2018, when the value of the main cryptocurrency pairs was falling. XLM increased in price several times against the backdrop of general market volatility.
To make XLM/USD forecasts, it is important to follow the industry news. It is believed that XLM is not among the main cryptocurrencies. However, Kin, Mobius, Smartlands, SureRemit, FairX projects have been successfully launched based on XLM technology. Stellar has a lot of competitors in the field of online transfers. Ripple continues to evolve, and at the same time, new projects continue to appear. If successful, the demand for Stellar will fall, and the price of XLM will drop.
Another important factor is the news of the Stellar network and developers' statements. New partnerships with industry giants, such as adding Stellar to the Samsung Blockchain Keystore, will increase the XLM price.
Risk warning: Trading in FX and CFDs entails high risk of losing capital.
