In our ever busy world of Bitcoin and countless Altcoins, it’s increasingly hard by the day to identify the best up and coming cryptocurrencies from an array of pump-and-dump schemes. Stellar is an altcoin with high potentials, and there’s seemingly nothing stopping it from reaching the moon in 2018.
Stellar Set To Fly
One of the proven strategies cryptocurrency founders’ employ in making the price and market value of their projects soar is by hiring expert Blockchain developers if they don’t have a solid Blockchain background.
Another vital thing they’ve often done is signing partnership deals with high-profile companies or individuals to use the currency and also to promote it. The above strategies have worked perfectly well for various Blockchain-based digital currencies over time.
Some weeks ago, the market capitalization of Stellar Lumens (XML) jumped from a lowly $2.5 billion to over $12 billion at a time when the cryptocurrencies market was experiencing a market-correcting bloodbath. Although at press time the XML market cap stands at just over $9 billion, there is plenty of positivity emanating from the Stellar Lumens camp.
Seasoned cryptocurrency analysts and Fintech experts have predicted that Stellar’s market cap could rise to $183 billion by the end of 2018. This is no minor feat, because the market cap of the world’s flagship cryptocurrency, Bitcoin is just $197.86 billion at press time. If this bullish prediction holds true, it simply means the value of the XLM Altcoin would skyrocket by 1,700 percent this year, dusting Bitcoin and Ethereum price forecasts.
Experts have predicted that bitcoin will see a 140 percent gain while Ethereum is expected to climb by 170 percent.
Back to Genesis
The co-founder of Stellar Lumens, Jed McCaleb, is the creator of the first ever bitcoin exchange, Mt. Gox, and he also has a hand in the creation of Ripple, which is currently sitting comfortably on the number three spot on the cryptocurrencies table, with a market cap of over $63 billion. In essence, Stellar passes the blockchain developer background test.
Back in October 2017, IBM Corp. announced it would use Stellar to speed up its cross-country transactions in the South Pacific. After the deal was successfully sealed, McCaleb said:
“Currently, cross-border payments tend to take up several days to clear. This new implementation is poised to start a profound change in the South Pacific nations, and once fully scaled by IBM and its banking partners, It could potentially change the way money is moved around the world, helping to improve existing international transactions and advancing financial inclusion in developing nations.”
IBM has hinted that it could use Stellar Lumens to process up to 60 percent of the “cross-border payments in the South Pacific’s retail foreign exchange corridors” which is estimated at around $1 billion monthly. Crypto enthusiasts believe that the entirely decentralized nature of Stellar, coupled with its nonprofit nature, positions the Altcoin for greatness and XLM could even surpass it’s more centralized counterpart, Ripple.
Will that be enough for stellar to displace Ripple at the number three spot? Only time will tell.