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.