Stellar's price today is $0.2383 USD**, with a 24-hour trading volume of **$151.78 million. The XLM token has shown 0.00% price movement in the past day. Currently, there are 30.94 billion XLM in circulation out of a maximum supply of 50 billion XLM.
What Is Stellar?
Stellar is a decentralized blockchain network designed to connect financial institutions and facilitate seamless creation, transfer, and trading of digital representations of any currency. Its primary mission is to provide remittance services and banking solutions to unbanked populations, fostering global economic inclusion.
Key features include:
- Decentralized exchange capabilities
- Cross-border transactions with minimal fees
- Payment systems integration
- Fast settlement (2–5 seconds per transaction)
Unlike Bitcoin, Stellar uses a unique Federated Byzantine Agreement (FBA) consensus mechanism. Its native cryptocurrency, Stellar Lumen (XLM), powers the network.
The History of Stellar
Founded in 2014 by Jed McCaleb (co-founder of Ripple) and Joyce Kim, Stellar quickly gained traction with:
- $39 million raised during its initial token offering
- 1 billion Lumens initially issued (later rebranded to XLM)
- 3 million users within the first year
A pivotal moment occurred in November 2019, when over 50 billion XLM were burned (destroyed), causing a 25% price surge within 48 hours. This event reduced total supply by half and increased scarcity.
How Stellar Works
Stellar operates through:
- Decentralized Servers: Nodes update the ledger every 2–5 seconds.
- Consensus Protocol: Uses quorum slices (trusted node groups) for transaction validation instead of mining.
- Speed: Processes 1,000+ operations per second.
👉 Discover how Stellar compares to other payment networks
Use Cases for Stellar
- Multi-Currency Transactions: Trade USD, Bitcoin, or commodities like gold digitally.
- Tokenization: Create tokens representing assets (e.g., real estate, service hours).
- Remittances: Low-cost cross-border transfers for businesses and individuals.
- DeFi Integration: Enables decentralized finance applications.
Example: A farmer in Kenya can tokenize crops and sell them to a buyer in Europe without intermediaries.
FAQ
What determines Stellar's price?
XLM's value fluctuates based on market demand, adoption rates, and crypto market trends.
Is Stellar a good investment?
While Stellar offers real-world utility, always research and consider market volatility before investing.
How do I buy XLM?
Purchase XLM on major exchanges using USD, BTC, or ETH pairs.
👉 Explore secure XLM trading platforms
Stellar continues to evolve as a bridge between traditional finance and blockchain technology, prioritizing speed, accessibility, and low-cost transactions. Its growing ecosystem makes it a noteworthy player in the crypto space.
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