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14 Things to Know About Stellar (XLM) as Prices Soar

Stellar (CCC:XLM-USD) is on the rise Monday as interest in the cryptocurrency rises higher.

Let’s take a look at what potential investors in Stellar need to know about the crypto below.

  • Stellar Lumens is the native cryptocurrency of the Stellar blockchain network.
  • This is a financial network designed to store and transfer multiple types of currency.
  • That includes fiat currencies, such as U.S. Dollar, Euro, and others.
  • It also covers various cryptocurrencies, including Bitcoin (CCC:BTC-USD), Ethereum (CCC:ETH-USD), and obviously Stellar Lumens.
  • One of the major advantages of using Stellar is that it provides the reach of a global bank without the extra hassle.
  • That includes fast transactions across the network, as well as flat fees for transactions.
  • The Stellar platform is also open-source and designed with developers in mind.
  • This means it can be used for business, development, and retail.
  • It’s also worth pointing out that Stellar already has partnerships with loads of other companies.
  • A few worth mentioning are Tangem, Zagg, FinClusive, Flutterwave, and ClickPesa.
  • You can check out a larger list of its partners at this link.
  • One of the requirements of having a Stellar account is that it needs to hold a certain amount of XLM.
  • The reason behind this is to try and dissuade bad actors from making use of the platform.
  • That’s also the reason that the network makes use of a small, flat fee for transactions.

XLM was up 40.1% over a 24-hour period as of Monday afternoon.

Crypto investors looking for more news today are in luck as there’s plenty to go around.