What is Stellar Lumens? One of the Fastest Growing Cryptocurrencies?

Stellar’s Lumen (XLM) cryptocurrency was trading at $0.002 this time last year, but a remarkable 12 months has seen it surge by 29,400 percent.A single Lumen token is now worth about $0.60, according to CoinMarketCap – an incredible 39 percent more than its low on Tuesday (January 23).

The digital currency’s total market cap now sits at an impressive $11.05billion, making it the sixth biggest crypto on the planet, as well as one of the fastest growing.

Stellar, which is an offshoot of Ripple (XRP), is turning plenty of heads in the financial world and has already forged partnerships with a number of established businesses.

 

What is Stellar?

Stellar was launched in 2014 by Ripple co-founder Jed McCaleb and former lawyer Joyce Kim as an open-source network that allows money to be transferred across borders quickly and cheaply.

The company started when Mr McCaleb left Ripple following a number of ugly disputes and there is still no love lost between the two parties to this day.

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