Stellar Price Stats
Market Cap: $2,800,531,811
Circulating Supply: 24,978,270,719 XLM
Supply Cap: 50,001,787,737 XLM
All Time High: $0.875563 -87.2% Jan 03, 2018 (over 4 years)
All Time Low: $0.00047612 23410.6% Mar 05, 2015 (over 7 years)
Brief Description of Stellar
Stellar, a notable cryptocurrency, operates as a decentralized blockchain network focused on revolutionizing cross-border transactions and financial connectivity. With its innovative consensus protocol and decentralized exchange, Stellar offers efficient and cost-effective transfers of both conventional and digital assets, making it a preferred platform for financial institutions, remittances, and small transactions. Beyond its technical prowess, Stellar places a strong emphasis on financial inclusivity, aiming to bridge gaps in global financial access and empower underserved communities.
Stellar Ranking on Coinmarketcap is #24 and Its Ranking on Coingecko is Also #24 and you can Currently Purchase Stellar on Binance, Coinbase, Kraken, Bittrex, Bitfinex, Upbit and Huobi.
Stellar Team
Stellar began in 2014 when Jed McCaleb left Ripple, a platform he co-founded, to create a new financial system. McCaleb and former lawyer Joyce Kim launched Stellar as a platform for the everyday user. Soon after, Stripe’s CEO collaborated with McCaleb and Kim to create the nonprofit Stellar Development Foundation.
Advantages of Stellar
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It has fast transaction speed
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It Supports Multi Currency
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Low transaction fees
Disadvantages of Stellar
- Stellar Currently have small circulation supply.
- Stellar have so many Competitors such as Ethereum, Ripple..e.t.c
- Development on Stellar Platform is Slow
Stellar Use Cases
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Cross-Border Payments: Stellar’s fast and low-cost transaction capabilities make it ideal for cross-border payments, enabling individuals and businesses to transfer funds seamlessly across different currencies and borders without the need for intermediaries.
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Remittances: Stellar’s network is well-suited for remittance services, allowing migrants to send money back home with reduced fees and faster processing times compared to traditional remittance methods.
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Tokenization of Assets: Stellar’s platform facilitates the creation and exchange of digital assets, making it a valuable tool for tokenizing real-world assets such as real estate, commodities, and other valuable items, thereby increasing their liquidity and accessibility.
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Decentralized Exchanges (DEX): Stellar’s built-in decentralized exchange enables users to trade various assets directly within the platform, providing a secure and efficient environment for trading without relying on third-party exchanges.
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Financial Inclusion: Stellar’s focus on connecting financial institutions and serving underserved populations makes it a powerful tool for enhancing financial inclusivity. The platform enables easier access to banking and financial services for those who lack traditional banking infrastructure, helping to uplift communities worldwide.
Summary
Stellar is a decentralized Network used to transfer digital currency to fiat money locally and across borders. The Stellar blockchain’s cryptocurrency is called the lumen, a token that trades under the symbol XLM.
