Could Stellar Be A Millionaire-Maker Coin?
Stellar has been a top performer for its early investors. Is it too late to jump in?
Since its initiation, Stellar has seen significant growth in its price levels, usability, and popularity among investors. XLM entered the market with a purported goal to provide a more streamlined approach to international money transfers and remittances.
There has been a whopping increase of over 91% in Stellar's price range in merely five months. XLM kick-started 2021 at $0.33 and has surged all the way higher, hitting a valuation of $0.629 as of writing.
Thanks to its unique network that facilitates affordable, fast, and reliable transactions, there is a rising interest of investors in Stellar Lumens today. With its increasing adoptions and technical developments in place, crypto enthusiasts are in a bid to know whether stellar could be a millionaire-maker coin.
Before taking a stand on Stellar's potential to be a millionaire-maker coin, let's dig a bit deeper into its price rally, factors that drive XLM's growth, and future advancements.
What Is Stellar Lumens (XLM)?
Stellar is both an open-sourced distributed payment network and a cryptocurrency. It processes cross-border payments at lightning speed compared to other cryptocurrencies. Lumens is the native currency of the Stellar network that serves as a bridge, making cross-border asset tradings less expensive.
Stellar has quite a lot of similarities with the Ripple network. But, unlike Ripple that focuses on large financial institutions, Stellar helps individuals in transferring money across borders seamlessly.
Stellar's native token XLM has a prominent role to play in its network. All Stellar users are bound to hold a tiny bit of XLM in order to participate in the network activities. It protects the ledger from getting filled with spam or other security threats.
A sizeable chunk of Stellar's popularity comes from the expertise of its founder, Jed McCaleb. He has been one of the earliest and leading investors in the blockchain community, whose name is associated with several other cryptocurrencies.
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Is Stellar A Millionaire-Maker Investment?
Since 2014, Stellar has shown exponential growth in terms of its price and network usability. XLM initiated its journey in the crypto market at a low price point of just $0.003 and kept surging higher, hitting an all-time high of $0.9381 on January 4, 2018.
Stellar Lumens secures the 13th position in the CoinMarketCap ranking with a market cap of $14,388,697,227 as of writing. XLM has a limited supply of 50,001,806,812 coins in the market, of which 22,868,935,015 are already in circulation.
Analysts predict that Stellar's price range is going to surge higher in the coming five years due to its scarcity and increasing demand in the market.
XLM was made with a mission to narrow the gap between the cryptocurrency world and the traditional finance sector. It has made successful partnerships with some of the biggest financial and tech companies, like Deloitte, IBM, and Stripe. Needless to say, this is a prominent factor that boosts Stellar's value in the market.
Factors That Could Make Stellar A Millionaire Maker
Several unique factors fuel Stellar's successful journey to being the next millionaire-maker coin. Here are a few among them:
Faster Transaction And Lower Fees
The XLM is popularly known as a fast and cost-effective cryptocurrency in the market. It is capable of processing up to 1,000 transactions per second at just 0.00001 Lumens.
Process Complex Chain Reactions
The Stellar platform operates in a unique manner that helps facilitate complex chain reactions. Imagine if you have no direct currency pair for your particular trade. Here, Stellar will further accomplish multiple trade transactions until it is successful.
Stellar underlying technology is unique and revolutionary as it enables cross-border transactions seamlessly with low transaction fees. Traditional transactions need to go through SWIFT, which is slow, costly, and rigid.
Stellar saves businesses from going through a tiring process of banking intermediaries by providing a payment network that is faster, cheaper, and convenient to use.
This efficiency makes Stellar one of the best choices for users, especially for sending exotic currencies.
Strong Partnership With IBM
Stellar Lumens has had a strong partnership with IBM since its initiation. The most significant fuel behind XLM's growth is IBM's decision to make Stellar a part of its Universal Payment Solution. This IBM-Stellar partnership is now competing with Ripple, and in the future, is looking forward to replacing SWIFT.
There already exists a working blockchain product of IBM and Stellar that uses XLM in the South Pacific region. It aims to connect retailers in the Pacific's most isolated islands, adding to its global usability.
Adoption By Grayscale
Yet another significant factor that boosts XLM's value in 2021 is Grayscale's big-budget purchase of XLM. Grayscale is a popular digital asset manager globally with more than $36.1 billion assets under its management. Over the past few months, Grayscale has shown high interest in XLM and has purchased a total of 35 million XLM.
The increasing demand for XLM and its high institutional adoptions could drive Stellar to be the next millionaire-maker coin in the crypto space.
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Could Stellar Be A Millionaire Maker Coin?
Stellar Lumens has a clear trajectory for integrating cryptocurrencies into the existing financial sector without completely disrupting the traditional financial system. It is one significant reason for the worldwide adoption of this cryptocurrency.
The Stellar Lumens project is bound to success, especially with its vast advancements on the network. The management recently tweeted about the major release of their new Horizon 2.0, which will bring even greater flexibility and adoption rates in the foreseeable future.
The Stellar Development Foundation (SDF) published its 2021 roadmap earlier this year on January 29. It states that supporting the robustness and usability of the project, developing sustainable use cases, and being a trustworthy blockchain are the three central pillars that hold the project together.
The team predicts that by working together, Stellar could soon surge higher than ever. And each of its factors and development will allow Stellar to grow significantly in the future, making it the next millionaire-maker coin in the market.
Stellar Lumens is the best cheap cryptocurrency that has the potential to bring good returns in the future for investors. With all its developments in place, Stellar can probably expect tremendous growth soon. According to crypto analysts, $1 is a reasonable target that XLM aims to hit by the end of 2021.
Given its unique approach to turn the financial market more advanced and its strong partnerships with big guns in the market, it's no surprise that Stellar is one of the most popular cryptocurrencies in the world today.
Therefore, considering all the predictions and factors, Stellar could be a millionaire-maker coin and a successful blockchain project in the crypto space.
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