Stellar (XLM): After a big dip, rising high again within a day which adding extra 40% on Friday, 12th January. It reflects the position of this crypto to move in one of the top 10 places once again in the second week of this new year. There is a reason behind this immediate increase from the company itself.
It is because of the announcement which made by the company in the official twitter. It reads “Validators on the Stellar network just voted to lower the base reserve to 0.5 XLM which makes the cost of creating accounts and orders inexpensive again.”
Stellar Lumens is an open-source platform for building financial products everywhere that connect people, which founded in early 2014 by Jed McCaleb and Joyce Kim. While Ripple also founded by the Jed.
The current price of this coin is $0.71 USD and its market cap is $12 billion as of 12th January 2018. This new year was started with the positive numbers to Tron and Stellar than others in the market. But, later a week, both of these coins are fell down. Both of them have different goals, Tron focusing on entertainment platform and the Stellar on banking.
Recently, Stellar’s network is started using in the IBM to develop a cross-border payment system with 5 largest banks in the world. The reason behind the price dip which happened recently might be the most of investors are from South Korea. A news which flashing online regarding the crypto ban in the country. Also, another reason for the rise of coin value is the founder is started focusing on Stellar in mid-year of 2017.
Most of the other companies are also using the blockchain technology for various purposes including banking, in that, Ripple and Stellar are two from one head. At the same time, the knowledge about cryptocurrency also reaching high to the public, it makes the investors high and people started believing in this future technology.