Stellar Coin Verdictīack at the end of 2017, the price of Stellar coin exploded to more than 80 cents for a brief moment. So far, indications on Stellar appear to be mixed. However, over the long-haul, it will be an individual coin’s fundamentals that determines whether it finds market success or not. Many cryptocurrencies are rising now thanks to the surge in the price of bitcoin. Additionally, in their view, DeFi and Ethereum 2.0 pose competitive threats to the long-run success of Stellar coin. However, the analyst notes that relatively few outside developers want to work on Stellar. The project is well-funded and has the human resources necessary to succeed. One analyst suggested a mixed outlook for Stellar. Some of this may be due to structural issues. In fact, when measured against bitcoin, Stellar coin has lost roughly 80% of its value since its peak back in 2018. However, it has been around a long time, and failed to gain additional value versus bitcoin or Ethereum (CCC: ETH). That makes a considerable success, to be certain. Is Stellar’s Plan Working?Īs of this writing, Stellar currently has the ninth-largest market capitalization of all cryptocurrencies. A solution built on Stellar could be outside the reach of traditional large banking and tech companies. Particularly in light of recent events, with high-profile politicians and activists losing access to their banking relationships, some people are looking to find alternate means of processing payments. This would offer obvious appeal compared to the limits of traditional payments systems and the high costs of the regular banking network.Īdditionally, Stellar’s decentralization is a plus. In its grand vision, Stellar will allow ordinary coders and website developers to put robust currency exchanging and trading systems into their sites and apps. Stellar aims to disrupt traditional banks and payment networks. It’s designed so all the world’s financial systems can work together on a single network. Stellar makes it possible to create, send, and trade digital representations of all forms of money: dollars, pesos, bitcoin, pretty much anything. The project’s official website states that: So what makes the Stellar coin stand out? It aims to serve as a universal medium of exchange. There’s a ton of different cryptocurrencies out there. But others fear that Stellar’s position in the crypto ecosystem may not be that firm. Some analysts have lofty price targets for the coin. However, it’s never come close to reclaiming its old highs back in the previous bitcoin run-up. Stellar Lumens has been a bit of a mixed bag.
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