Stellar Lumens started making waves over the weekend sending shivers down the spines of the elite cryptos on the top 10. Last week it made a strong statement and announced its presence when it made it to the upper areas below the 10th range displacing well-performing digital currencies like Decred, PIVX, Stratis, SingularDTV, Factcom and a few others.
By Saturday it was at number 11 burgeoning and brimming with energy to make it to the top 10. It was no wonder to those of us who were observing it intently to see him at number 10 at the dying embers of Saturday.
The platform that connects banks, payments systems and people kept its rampaging match on on Sunday putting fear in those Cryptos at the last five. Early mornings on Sunday, it gained an unbelievable 131.08 percent, finally knocking down Golem and went ahead to push gradually depreciating Monero to occupy the 8th position on ConmarketCap, the league table of Cryptocurrencies.
The situation has seen currencies like Augur and Maidsafe losing top 10 statuses. Even some other coins that were aspiring for top 10 are now lingering below the 15th spot. Stellar Lumens, a fallout of Ripple after a disagreement over decentralisation now has a market Cap of almost $5 Mln. However, its market price is a minute $0.047994.
Joyce Kim, the Executive Director at the Steller development Foundation in a recent interview on Money & Tech revealed Stellar Lumen is complementary to Bitcoin and a distributed multicurrency system that allows every currency to run on it. She mentioned that on their protocol Bitcoin, Litecoin Yen, Dollar and every currency can run on it. She also stated one one of their main focus is to reach underserved communities.
With the new sensation, it has created in the industry, It is very obvious everyone is watching it and want to get hold of some of their tokens. It is fascinating enough to see how on a daily basis, one or two Cryptocurrencies brings out some unique system that beautifies the ecosystem so immensely. CCN is set to reach to the Stellar Lumen team to bring you more update. For now, it seems there is more room to get your hands on some stellar.
Featured image from Shutterstock.