Stellar Price XLM

Stellar is an open-source, decentralized network co-founded in 2014 by Jed McCaleb and Joyce Kim to facilitate the fast and low-cost transfer of value across different currencies and assets globally. Managed by the non-profit Stellar Development Foundation, the project serves as a global infrastructure that connects banks, payment systems, and individuals to expand financial access to underserved populations. Its main value proposition lies in providing a bridge between traditional money and digital networks through the use of Anchors, which are trusted entities that hold deposits and issue credits on the ledger.

The network operates using the Stellar Consensus Protocol and a Federated Byzantine Agreement, where nodes choose trusted sets of other nodes to agree on the state of the ledger. This system ensures high throughput and fast finality, where transactions are considered permanent and irreversible within seconds. Key features include a built-in distributed exchange for trading assets without intermediaries and the Soroban platform for developing smart contracts. Users can also utilize the network for tokenizing real-world assets or accessing decentralized finance services like peer-to-peer lending.

Stellar's native token, XLM, is essential for maintaining network integrity by acting as an intermediary to find efficient exchange paths and preventing spam through small transaction fees and minimum account balance requirements. Unlike many other digital assets, the network has no inflation because the community voted to disable the automatic creation of new tokens. While the project received early funding from the payments company Stripe, it is now sustained by a global community of validators and developers rather than traditional venture capital.

Categories: Smart Contract Platform · Layer 1 (L1) · Real World Assets (RWA) · Stellar Ecosystem · GMCI 30 Index · GMCI Index

Stellar is an open-source, decentralized protocol for digital currency to fiat money transfers which allows cross-border transactions between any pair of currencies.

The Stellar network operates using its native digital currency, Lumens (XLM), which acts as a bridge to facilitate trades between different currencies. It uses the Stellar Consensus Protocol (SCP), a federated Byzantine agreement system, to achieve consensus without relying on a closed system.

Stellar's price is influenced by its adoption as a platform for cross-border payments and remittances, particularly in developing countries where access to traditional banking is limited.

The supply schedule of XLM, which includes periodic inflation and distribution mechanisms, can impact its price. The Stellar Development Foundation has also undertaken efforts to burn a significant portion of its XLM supply.

Regulatory developments in the cryptocurrency space, especially concerning cross-border transactions and digital assets, can affect Stellar's market performance.

The overall market conditions in the cryptocurrency space, including the performance of other digital assets and investor sentiment, play a role in influencing XLM's price.

Partnerships and integrations with financial institutions, payment processors, and other blockchain projects can drive adoption and affect the asset's value.

Stellar has a circulating supply of 35,054,518,779 XLM with no fixed maximum supply, and a total supply of 50,001,786,840 XLM. Its fully diluted valuation is $10.56B.

You can buy Stellar (XLM) on major exchanges such as Binance, Coinbase, Kraken, Bybit and OKX. In Nigeria, XLM is also available via local exchanges and P2P — see our XLM in naira page. Always compare fees and use reputable platforms.

One XLM costs about ₦295.9 to buy on Nigerian P2P markets and sells for about ₦293.74. The P2P USDT/NGN rate (₦1,365) sits 2.5% above the official USD/NGN rate of ₦1,331.28, so dollar-priced crypto effectively carries that spread when you buy with naira.