Stellar
About Stellar
The price of Stellar (XLM) is $0.09492683 today, as of Sep 16 08:12 p.m., with a 24-hour trading volume of $64.87M. Over the last 24 hours, the price has decreased by -1.46%. Stellar currently has a circulating supply of 29.57B and a market cap of $2.81B.
Stellar Lumens (XLM) is the native cryptocurrency of Stellar, which is a blockchain-based payment network whose leaders see it as a faster and cheaper way to make global payments than the likes of remittance giants MoneyGram and Western Union. Those companies charge high fees and can take days to process a transaction. In 2021, Stellar even said it was interested in buying MoneyGram.
The platform also boasts its own decentralized exchange for trading crypto and other assets. For non-crypto assets like gold, verified financial institutions known as “Stellar Anchors” act like banks and hold the deposits. The platform then issues tokens tied to those assets to the depositor and returns the assets upon withdrawal/ redemption of the tokens. That all takes place on the Stellar ledger.
In 2014, Stellar raised $35 million in its initial token sale of its native token, XLM. Stellar’s supply is managed by the nonprofit Stellar Development Foundation (SDF), which steers development of the protocol. When Stellar started, 100 billion XLMs were created with an annual inflation rate of 1 percent. The inflation rate has since been removed.
In 2019, Stellar burned, or removed, more than 50 percent of its supply, slashing its total supply cap to 50 billion. Prices jumped by more than 14% within an hour of the announcement, as the remaining tokens in circulation became scarcer.
XLM’s price hit an all-time high of $0.86 during the 2017 crypto bull run. In the following bear market, XLM’s price sank to a low of $0.03. Not long after bitcoin’s price hit a then-high of $63,500, XLM’s price reached another peak of $0.73 in May 2021.