If you are an investor, it is always a good idea to have an option B. It is preferred to not put all your eggs in one basket. Now, if you are looking for an alternative digital currency other than Bitcoin, it is a good idea to take a closer look at altcoins that offer a solution to the current problems with Bitcoin.
One of the biggest problems with Bitcoin is its transaction fees and its processing time. Considering these problems, what are the best options that you have? The likes of Ripple, Litecoin, and Ethereum offered a faster alternative.
But these days, there are those cryptocurrencies such as Stellar Lumen’s XLM that have targeted blockchain tech adoption specifically for banks and financial institutions. Stellar Lumens is currently at $0.443952. And despite the recent crash in the price of altcoins, it held its value which is a good sign.
One of the things that make Stellar Lumens stand out among other digital currencies is the fact that it has increased by double digits this year alone. In fact, most of the other cryptocurrencies lost their value this year. Could this mean that it makes a good investment option?
It shows everyone that you can transfer funds in a quick and cheap manner. And since there are multi-currency transfers, it has become popular not only among financial institutions but also among traders and spectators as well.
Exchanges Becoming Interested
Hong Kong’s OKEx exchange included Stellar Lumens as part of its growing number of cryptocurrencies. This is a big deal for the digital currency since this is the world’s fifth largest exchange especially when it comes to trading volume. It started last December 28th, and for this reason, more investors had access to Stellar Lumens.
Right after being included in the OKEx list, there was around $1.4 million worth of Stellar Lumens traded in the cryptocurrency exchange website.
But it doesn’t stop there. In fact, Bitfinex announced on its Twitter that they are now going to include Stellar Lumens on their platform. And because of this, the cryptocurrency jumped in value for a good reason. Bitfinex is one of the largest crypto exchanges in the world. Daily trading volume is at $500 million just a month ago. But now, trading volume has doubled to over $1.1 billion. And with trading volume alone, it isn’t surprising that the value of Stellar Lumens has skyrocketed.
Unlike other bullish trends that are just short-term, things are quite different with Stellar Lumens. In fact, European exchange has already announced that they are also listing the cryptocurrency. Litebit.eu that has more than 50 cryptocurrencies in its platform expanded their market base and even pushing Stellar Lumens up.
A Favorite by Banks?
But of course, it is also important to take a closer look mainly at the use of Stellar Lumens. It is the favorite of central banks. It had a partnership with IBM and many already believe that this could be the reason for its mass adoption.
Its usability is also undeniable since Stellar Lumens is also about to join Lobster. This works on iOS and Android which means that it has become even more usable.