Lumens (XLM) is the digital currency of the stellar blockchain platform. It is a faster, scalable and inexpensive banking system. It is often compared with Ripple’s platform. However, while Ripple is concerned more about providing banking services to institutions, Stellar provides blockchain-based banking services to individuals.
Stellar also an ICO platform which is helping new projects launch their own digital coin offerings. What is interesting about XLM is its founder Jed McCaleb, one of the earliest figures of the blockchain community who was involved in the (now infamous) Mt. Gox Bitcoin exchange as well as Ripple Labs. The blockchain project also has a working partnership with tech giant IBM. They are working on a project in isolated islands of the South Pacific.
What Works for Stellar?
The platform on which Lumens (XLM) are issued allows for the superior smart contracts which are relatively more rigid than the ones created on Ethereum. This helps in creating contracts that cannot be manipulated from within or outside and protects it from attacks as well as manipulations. The project also comes with multi-layer encryptions because of which it has attracted numerous partnerships in the space as well.
Price Predictions for XLM
Though XLM is one of the stronger assets in the market, it will not be able to move away from the influence of the crypto winter. Between February 01 and March 31, the price of the currency is expected to go down from $0.0140 to $0.00932. It will experience a slight bounce-back between April 15 and May 15. It will continue to trade around $0.014 till July, and with ups and downs within the range mentioned above, the coin is expected to go to $0.0394.
The price of the asset is $0.088 right now with a market capitalization of $1.69 billion. It is currently the 9th largest digital asset in the world and has consistently featured in the top 10 over the past year.
Though the price movement of the coin does not look significant in 2019, we must note that we are at the end of January 2019 and by the end of January 2020, the coin is expected to go up to $0.2093. This means that even though the gains are moderate, XLM is a good currency to invest in with a one-year return in mind. In three years, it could be worth $0.357. If the markets continue to feel the pressure like they are doing right now, the price of 1 XLM coin is expected to go up to $0.412 by January 2024.
XLM is one of the few assets in the current markets that have shown positive movement. It is backed by the strong platform, real-time uses cases and partnerships with several major companies. The current forecast is based on the downward price movement data of the crypto winter, which is drawing several well-known currencies to trade dangerously near zero. XLM, with all these pressures, has a strong community presence as well which will be helpful for it to stay afloat in recent times. You can invest in XLM; it is a good buy.