![]() This approach has helped to make the global Stellar network quite popular. To give you an idea of how accessible XLM is, the official Stellar website reports that “Right now, the minimum balance is 1 lumen and the minimum per-transaction fee is 0.00001 lumen.”Ĭlearly, Stellar Lumens is built for broad-based affordability. That’s a feature you won’t find in some other crypto coins. Rather, it means that this token is perfect for people with smaller-sized financial accounts who want to transfer funds across borders without pricey fees.īased on the Stellar network, XLM tokens not only allow users to send sums of money, but make it relatively convenient and cost-efficient to convert currency. This doesn’t mean that institutions are barred from using Stellar Lumens. One thing that’s different about XLM is that it’s designed to help individuals transfer money. You might know Ripple as a low-priced cryptocurrency that’s favored by institutions. Let’s start this section off with a fun fact: Stellar Lumens was created by Jed McCaleb, who also created Ripple (XRP). So, please be cautious with Stellar Lumens and only take small position sizes when trading it. The price retreated to around 27 cents recently, and that’s an example of how quickly it can drop. Stellar Lumens touched its 52-week high in early January. ![]() Just be careful about chasing the price near its peak. The prospect of doubling or tripling your money is within reach – if you have excellent timing. Perhaps its propensity for huge, fast moves explains why Stellar Lumens may be considered by some folks to be a trader’s paradise. ![]() As evidence of this, we can observe that its 52-week range is from around three cents to approximately 40 cents. XLM is certainly no exception to this rule. Low-priced assets are sometimes known for making outsized price moves. A Closer Look at the Stellar Lumens Priceįirst off, let’s address the fact that XLM stock is cheap compared to famous cryptocurrencies like Bitcoin and Ethereum. With that in mind, let’s delve into XLM’s wide-ranging price moves. In other words, once you’ve purchased Stellar stock, you might actually find yourself wanting to hold on to it for a long time. As we’ll discover, an argument could be made that XLM is truly the “people’s currency.” Still, I invite you to consider Stellar Lumens not only as a vehicle for quick profits, but also as a form of currency that could change the world. And for the price-action traders out there, we will examine XLM’s technical aspects. Sure, you can just bypass the learning phase and start trading Stellar Lumens based on the price action.
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