Why XLM Surged Nearly 200%: Key Factors Behind Stellar’s Growth

The post Why XLM Surged Nearly 200%: Key Factors Behind Stellar’s Growth appeared first on Coinpedia Fintech News

The Stellar market has grown by at least 478.057% since November 5. The sharp surge in the price of XLM has grabbed the attention of the crypto community. It has once again brought back the crucial question: Is Stellar the most underrated crypto project? A recent post by Stellar co-founder Jeb McCaleb shared some important insights about the real strength of the project, something not many have ever discussed regarding the project. Dive in!

Steller’s Growing Popularity 

The popularity of Stellar has grown sharply in recent years. The unmatchable growth, which the XLM has achieved this month, is one of the many indications of people’s growing interest in the project. McCaleb acknowledged the growing interest, but claimed that no progress has been achieved in people’s understanding of this cryptocurrency project. He pointed out that the attention, which Stellar has received lately, has not helped it escape its underrated status.

What Makes Stellar Special?

Highlighting the significance of Stellar, McCaleb noted that Stellar handles at least 10 times more daily transactions than Ethereum. Moreover, he added that real-world payments constitute a large portion of Steller’s transactions.

Advanced Features of Stellar 

Stellar has several advanced features, from native stablecoins, a built-in DEX, on-chain governance and safer smart contracts, to passkey support and native multi-sig. 

Emphasising the cost-effectiveness and efficiency of Stellar, McCaleb noted that the project ensures fast transactions with near-zero fees, and is a top performer in its segment in terms of efficiency. 

He also projected Stellar’s developer team and developer documentation as key factors that make the project stand out as the best in the industry. 

Stellar’s Potential in Global Finance 

Positioning Stellar as a highly useful payment system, McCaleb pointed out that the project aligns with the best use case for cryptocurrency. Additionally, he expressed hope that businesses and individuals would recognise the utility of Stellar in financial transactions. He also predicted that Stellar would become a prominent player in the global financial system. 

In conclusion, Jed McCaleb highlights Stellar’s unique capabilities, from real-world usability to advanced features, showing its potential to transform global finance.