Stellar Lumens Price Index - Real Time Price Graph
Stellar Lumens (XLM), often referred to as just Stellar, is an open-source, decentralised protocol for digital currency, which particularly focuses on cross-border transactions. Stellar Lumens is overseen by the non-profit Stellar Development Foundation.
Stellar Lumens was the brainchild of Jed McCaleb, founder of Mt. Gox and co-founder of Ripple, with the system having first been launched in 2014. Stripe CEO Patrick Collison was also involved in the launch, with the initial project receiving $3 million in seed funding from Stripe.
The cryptocurrency was originally referred to as Stellar, but later rebranded as Lumens, and confusingly, is now generally referred to as Stellar Lumens, with both names still associated with it!
Where to Buy Stellar Lumens?
Stellar Lumens is firmly established among the top 15 cryptocurrencies on the planet at the time of writing, meaning that it is widely available at digital brokerages and exchanges. Although there are many of these platforms available online, it is still wise to purchase Stellar Lumens (XLM) from a platform diligently. Customer service, safety, and security are always important with any investment, and thus choosing a reputable broker is particularly critical.
A Brief History on the Price of Stellar Lumens
Although Stellar Lumens is a relatively new cryptocurrency, its price discovery journey has still been an interesting and eventful one.
Key News for Stellar Lumens
It probably won't come as a huge surprise that the coronavirus crisis has been the dominant news item impacting the price of Stellar Lumens. While the Covid-19 crisis has had a negative impact on most investment categories, the opposite has applied to cryptocurrencies.
Many cryptos have increased in value during the pandemic, and this has certainly applied to Stellar Lumens. As investors have sought different locations to the traditional equities and bond markets during the crisis, cryptocurrencies have been one of the major beneficiaries of this investment.
However, other issues have impacted Stellar Lumens as well. Recently, the CEO of the Stellar Development Foundation, Denelle Dixon, suggested that the Stellar Lumens blockchain would be the ideal basis for the digital dollar. Dixon indicated that this would be an obvious development at a time when both governments and institutions are seeking new ways to issue money, particularly in the Covid-19 climate.
Elsewhere, the Stellar Development Foundation also announced a $5 million investment in wallet provider Abra. This will make it possible for Stellar Lumens to offer new financial products on the Stellar blockchain. And the National Bank of Ukraine revealed in an analytical report that it has used the protocol of Stellar Lumens for a pilot project of a central bank currency.
While the Covid-19 crisis will continue to have a profound impact on Stellar Lumens, and the cryptocurrency market in general, it is clear that the founders of Stellar Lumens haven’t been resting on their laurels during the pandemic. The company is forging new partnerships that will help to take Stellar Lumens forward, and which are indicative of the increasing credibility of cryptocurrencies in general.
Stellar Lumens Timeline
July 2014Jed McCaleb, the founder of Mt. Gox and co-founder of Ripple, launched the Stellar network system, with former lawyer Joyce Kim also prominently involved.
August 2014Mercado Bitcoin, the first Brazilian Bitcoin exchange, announced that it would be using the Stellar network for its operation. Stellar Lumens price: $0.002
January 2015Stellar Lumens had approximately 3 million registered user accounts on its platform and its market cap had risen to nearly $15 million. Stellar Lumens price: $0.005
February 2015The Stellar Development Foundation announced that Stellar was releasing an integration into Vumi - the open-sourced messaging platform of the Praekelt Foundation. Vumi uses mobile phone talk time as currency using the Stellar protocol. Stellar Lumens price: $0.004
April 2015Stellar partnered with cloud-based banking software company Oradian in order to integrate Stellar into Oradian's banking platform, helping to add microfinance institutions in Nigeria. Stellar Lumens price: $0.002
July 2016Deloitte announced its integration with Stellar to build a cross-border payments application - Deloitte Digital Bank. Stellar Lumens price: $0.002
December 2016Stellar's payment network had expanded to include Coins.ph - a mobile payments startup in the Philippines - ICICI Bank in India, African mobile payments firm Flutterwave, and French remittances company Tempo Money Transfer. Stellar Lumens price: $0.001
May 2017Lightyear.io, a for-profit entity of Stellar, launched as the commercial arm of the company. Stellar Lumens price: $0.005
August 2017ICICI Bank, India’s third-largest bank partners with Stellar to build a money transfer ledger. Stellar Lumens price: $0.017
September 2017The Stellar Development Foundation announced a benefits program, part of its Stellar Partnership Grant Program, which would award partners up to $2 million worth of Lumens for project development. Stellar Lumens price: $0.023
October 2017Stellar partnered with IBM and KlickEx to facilitate cross-border transactions in the South Pacific region. The cross-border payment system developed by IBM includes partnerships with banks in the area. Stellar Lumens price: $0.013
November 2017The Stellar Lumens ATM is launched for the first time, while the first initial coin offering (ICO) is launched on the Stellar network. At the same time, the Stellar Lumen token reaches $1 billion in market capitalisation. Stellar Lumens price $0.027
December 2017TechCrunch announced Stellar's partnership with SureRemit - a Nigerian-based non-cash remittances platform. Stellar Lumens price: $0.089
January 3rd, 2018Stellar Lumen hits a record high of $0.919994, briefly taking the market cap of the cryptocurrency to the verge of $13 billion. Stellar Lumens price: $0.919994
April 2018The market cap of the token had now receded somewhat to $7 billion, but this was still many times the capitalisation of the project at its inception. Stellar Lumens price: $0.20
May 8th, 2020Stellar Lumens has nearly doubled in value during the Covid-19 crisis, after a lengthy bear market. Stellar Lumens price: $0.07
Compare Stellar Lumens With Fiat Currencies, Commodities and Crypto
Although Stellar Lumens is primarily intended to be a digital payment system, it also has a lot of credibility as an investment mechanism. The massive increase in the value of the token since it was first introduced has meant that investors have held the coin for long periods of time, seeking price appreciation.
The value of each Stellar Lumens taken is much lower than many other comparable cryptocurrencies, but its overall market capitalisation has become quite significant. And both of these figures increased massively during its bullish period in 2017-18, while the value of Stellar Lumens has doubled once more in 2020.
It is thus natural to compare Stellar Lumens to commodities, other cryptocurrencies, and even fiat currencies. So this is what we will do in this section, with some particularly relevant assets.
Compare Stellar Lumens With the US Dollar
Currencies have not fared particularly well during the coronavirus pandemic, but this has not applied to the US dollar. The world reserve currency status of the American currency has conferred a great deal of privilege on the dollar, and this has meant that the value has held up well in recent months.
However, this is nothing compared to Stellar Lumens, which has doubled in price over the last few months. Needless to say, Stellar Lumens has massively outperformed the dollar.
Compare Stellar Lumens With Gold
Gold is an obvious asset to compare Stellar Lumens with, as both can be seen as safe havens for cash in times of crisis. And the precious yellow metal commodity has definitely been reviewed this way during the coronavirus pandemic, with gold increasing by around 20% in value.
This is a more than decent performance for gold, but it has still been significantly outranked by Stellar Lumens, which has doubled in value during a period in which gold has increased in value by one-fifth. Secondly, investors have rushed to cryptocurrency more than traditional commodities during this pandemic.
Compare Stellar Lumens With Crude Oil
Crude oil has experienced the most dramatic and troubling period in its history recently, with the value of black gold tumbling. The fact that a barrel of oil was trading at a negative price for quite some time is indicative of an unprecedented crisis in the oil market. While the crisis since recovered, the downward spiral for crude has been obvious, particularly at a time when traffic all over the world has been massively reduced. It is fair to say that crude oil and Stellar Lumens have had completely contrasting fortunes in recent months.
Compare Stellar Lumens With Bitcoin
Stellar Lumens is one cryptocurrency that has performed at a similar level to Bitcoin, with both tokens basically doubling in value over recent months. Of course, each Stellar Lumens token is worth a fraction of Bitcoin, while its market capitalisation is also marginal compared to the market-leading altcoin.
Stellar Lumens Future Price Predictions
As Stellar Lumens becomes an increasingly popular investment vehicle, there has been a huge amount of speculation regarding its future price. Many people are very bullish on Stellar Lumens, but it is interesting and valuable to examine the trends that will impact this digital currency.
Stellar Lumens Price Predictions for 2020
For the remainder of 2020, there is no doubt that the ongoing coronavirus pandemic will be the critical issue impacting the price of Stellar Lumens. While we can hope that the economic carnage which follows the Covid-19 crisis isn't too great, the reality is that it will certainly be of great significance to global financial institutions and systems.
While this will be a testing time for many commodities and asset classes, the prevailing evidence suggests that it will be bullish for cryptocurrencies. This is certainly backed up by the performance of Stellar Lumens and other cryptos during the coronavirus crisis and would seem to suggest that Stellar Lumens may make further gains during the remainder of the calendar year.
Stellar Lumens Price Predictions for 2021
In 2021, the coronavirus pandemic will still loom large, even as everyday life begins to get back to normal. It would be naive to believe that economic activity will have completely resumed, and the post-coronavirus climate will definitely be a challenging one.
It is hard to predict precisely the extent of what is likely to be a recessionary environment. But we can reasonably expect cryptocurrencies such as Stellar Lumens to continue to be viewed as safe-havens in this environment. The cryptocurrency bull market may continue for quite some time, and the climate for Stellar Lumens into 2021 is quite promising.
Beyond 2021 for Stellar Lumens
Even beyond 2021, the coronavirus pandemic will continue to impact culture, society, and the economy. It is likely that there will be a massive recession or even depression, but this may be beginning to recede by this time. Nonetheless, the impact of the shuttering of the global economy will create shockwaves for several years to come. It can also be stated that we don't know whether or not there will be further peaks in the virus.
This will likely be bullish for Stellar Lumens, but the cryptocurrency will also have to deal with several other demographic issues in the years ahead. Firstly, Stellar Lumens will need to demonstrate use cases to the market, particularly as the cryptocurrency sphere is so competitive. And the Stellar Development Foundation will also need to forge as many partnerships with financial institutions and other relevant businesses as possible.
The reputation of Stellar Lumens going forward will also be particularly important, especially its ability to deliver cross-border payments. Its credibility in this area will determine the future of the Stellar Lumens project, and it is notable that it will be in direct competition with Ripple in this area; one of the largest and most prominent altcoins.
There are challenges ahead for Stellar Lumens, but also possibilities and potential.
Stellar Lumens Price Conclusion
In conclusion, the long-term price discovery of Stellar Lumens will be dependent on its ability to mark itself out from other cryptocurrencies in the niche and deliver a system that does something distinct, while also delivering its functionality at a world-class level. The value of Stellar Lumens is quite likely to increase during the recessionary period that lies ahead, but its founders must use this period profitably to build use cases for the cryptocurrency that will sustain Stellar Lumens for many years to come.
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Frequently Asked Questions
The blockchain is a public ledger that records all transactions related to a cryptocurrency, such as Stellar Lumens. The blockchain ensures that Stellar Lumens is transparent, fair and accountable, making the public keys for all transactions available to all interested parties.
The founders of Stellar Lumens have actually ensured that it has a good foundation as a monetary platform. It is an active digital payment system that has already forged partnerships with many companies in the mainstream financial architecture. It is hoped that Stellar Lumens will become a widely adopted digital payment system, as this process continues to expand. As Stellar Lumens can clearly be exchanged for goods and services, it meets any reasonable definition of the term money.
The Stellar Development Foundation is indeed a non-profit organisation, although it is not tax-exempt, and has no plans to seek tax-exempt status from the IRS. The Stellar Development Foundation does not have shareholders, nor seek profits or dividends, and purports to be driven by its core mission of “creating equitable access to the global financial system.”
Most exchanges charge a minimum of 2 tokens in order to send Stellar Lumens, but there is generally no minimum amount required.
The answer to this question depends on the personal circumstances of the individual. But there are many advantages to Stellar Lumens. Firstly, it can be an excellent investment mechanism, as its price appreciation over its history has been significant. Secondly, the platform is faster and cheaper than many of the common methods of payment, and its founders have worked hard to establish Stellar Lumens as a viable cross-border solution. This feeds into the third obvious advantage of Stellar Lumens, which is that it can be an excellent platform for those denied access to the conventional banking system.
Mining refers to the process of acquiring blocks on the Stellar Lumens blockchain. This requires powerful computers, which work on algorithmic equations in order to complete this process. The acquisition of cryptocurrency is referred to as mining in order to create an allegorical parallel with other more traditional commodities such as gold.
Stellar has made the new network for its product available at https://launch.stellar.org/.
As of November 2019, there were approximately 50 billion Stellar Lumens tokens in circulation.