2017 was a fantastic year for Stellar, which saw its Lumens alt coins (XLM) increasing in value from $0.002 to $0.50 over 12 months. While 50c per Lumen might not seem impressive, we’re talking a 25,000% growth in the price of Stellar.
This increased visibility for the altcoin has greatly improved its standing among the digital currency giants like Ethereum and Bitcoin, but can Stellar capitalise on its investment and sustain its growth through 2018?
It certainly seems so, and here’s why…
Expansion of real-world applications
Global technology giants IBM announced their partnership with Stellar last October, unveiling plans to develop a blockchain solution for simplifying cross-border transactions. The system is already live in New Zealand, the United Kingdom, and Australia, with over 30 banks already using the system, and more to come. With Lumens being used as the mode of transfer, allowing for speedier and more secure transactions along the blockchain, its value is going to increase with each new adoption.
An ATM that supports Stellar Lumens as currency was recently unveiled at the Singapore FinTech Festival. You can purchase Lumens for a regular fiat currency (Singapore dollars were used in the demonstration) and have them immediately transferred to yours, or someone else’s cryptocurrency wallet. Putting an altcoin on the same level as a fiat currency like this is a bold move and one that will strengthen XLM's visibility and brand recognition.
A new cryptocurrency exchange – FairX – is set to make a massive impact in the industry by allowing direct trading between crypto and fiat currencies across the world. An impressive promise, if it comes to fruition and the blockchain that will underpin this venture? Lumens, of course.
Should you be investing in Stellar Lumens?
There's every reason to believe the price of XLM will skyrocket by the end of 2018, establishing Stellar Lumens as an altcoin that’s set to run the distance, and turn a tidy profit for investors too.
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