The new year’s hottest cryptocurrency is Stellar Lumens
The Stellar Lumens altcoin has shot into the new year by rising nearly 200% in less than a week.
It was a pretty quiet Christmas for the digital payments cryptocurrency Stellar Lumens (XLM), but that changed dramatically in the final days of 2017. Stellar Lumens shot into the new year with a price explosion from about $0.20 per coin on December 28 to nearly $0.60 on the morning of Tuesday January 2, 2018.
As it tripled in price, the social buzz surrounding Stellar Lumens also went crazy, peaking late Monday at five times the social volume it had on December 28, according to Solume.io.
The quick rise sent Stellar Lumens across the $10 billion milestone in market cap and past Dash into the No. 9 spot, just shy of NEM at $10.6 billion and IOTA at $11.3 billion, according to CoinMarketCap.com. It would have to double again to break into the top five, though, which spans from reigning champ bitcoin with a market cap of $236 billion to No. 5 Cardano at $20 billion.
Bitcoin has spent the holidays recovering from a massive sell-off.
Stellar Lumens bills itself as a digital solution to instant payments from one country to another. Unlike Ripple, which it forked off of back in 2014, Stellar Lumens is currently focused on helping developing countries. Ripple has had a similarly spectacular rise, soaring from $1 the day after Christmas – and just $0.25 on December 12 – to its January 2 price near $2.15.
Learn more about the connection between Stellar Lumens and Ripple, and where they may be headed in 2018, using our price prediction for the new year. You can learn all about how to buy Stellar Lumens using our comprehensive guide.