Stellar Has Made Its Name as the Hottest Cryptocurrency in the First Week of 2018

2017 has been an eventful year for cryptocurrencies with the value of bitcoin and various other digital currencies skyrocketing. One of the fastest emerging cryptocurrencies in the world of decentralized banking is Stellar which has witnessed a 65 percent surge since last Friday. Stellar has seized its position among the top 10 list when it comes to market capitalization. Based on the blockchain technology followed by the renowned cryptocurrency – Bitcoin, Stellar has become popular owing to its fast transaction times and the convenience to exchange currencies backed by the government. Users can thus change Euros into Dollars and vice versa. The stellar coins are officially called as lumens and are traded as XLM’s.

There’s a new hottest cryptocurrency of 2018 so far: stellar

The hottest digital coin as 2018 begins is stellar, which has soared since Friday into the 10 largest cryptocurrencies by market cap.

Stellar’s network is being used by companies like IBM and Deloitte in order to develop an interbank payments system. Bitcoin has been losing steam over the past weeks and has witnessed drastic fluctuations in its market value. Even though last year saw the value of Bitcoin rise by over 1900 percent, Ripple has been the most promising cryptocurrency when looking at it on a percentage change basis. Founded by Jed McCaleb and Joyce Kim in 2014, the cryptocurrency has seen the highest increase in value in 2018 and is all set to emerge as a leader in the digital currencies market. The currency is becoming a popular choice among businesses and nonprofits as a financial infrastructure.

 Cryptocurrencies have been on the rise since the introduction of the Bitcoin over 9 years ago. Of the various competitors that have emerged over the years, a few like Ripple and Ethereum have gained widespread popularity. One of the recent entrants in the world of decentralized online currencies is Stellar that has taken the market by storm and has become the preferred choice for various businesses the world over. The cryptocurrency has provided users with a means of making transactions much faster than Bitcoin and at lower transaction costs. It is yet to be seen if Stellar will continue on this growth path and emerge as a potential threat to other cryptocurrencies. The only certainty is that 2018, is sure to be an interesting year for the digital currency.

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