Stellar Lumens News Today – Headlines for November 15

  • Stellar Lumens Take Bold Steps to Push Mainstream Adoption and Secure Platform
  • Weiss Crypto Rating praises Stellar on its recent upgrades
  • Stellar strengthens its platform to compete with Ripple

Stellar Lumens News Today – Stellar Lumens came into the crypto space back in 2014, and the digital currency has experienced its own share of highs and lows. Nevertheless, the team behind the product has kept a steady eye on long-term use and development. The Stellar network is currently positioned to make great paces into the mainstream. In preparation for mainstream adoption, the development team has made several bold moves to strengthen the ability of Stellar to compete with other digital currencies.

Stellar Lumens Takes Bold Steps to Push Mainstream Adoption and Secure Platform

Undoubtedly, Stellar Lumens is one of the few crypto projects with great potential. The principle founder of the project, co-founder of Mt. Gox and Ripple – Jed McCaleb – is known as one of the most talented minds in the digital currency industry. McCaleb and the dev team of the project want Stellar to compete with Ripple, focusing on international settlements and other financial activities. To achieve this, they have secured several strategic partnerships. One of its major partners is IBM.

Stellar (XLM) Price Today – XLM / USD

NamePrice
bitcoin
Bitcoin
$0.00
stellar
Stellar
$0.00

The Stellar network also runs smart contracts. Many decentralized apps (DApps) have been written for it. Stellar also promised that its network would as scalable as competing platforms. In a bid to further improve the platform, the Stellar Development Foundation recently disabled an inbuilt inflationary mechanism that adds 1% of XLM in circulation every year to the platform.

Furthermore, the SDF recently burned more than 50 percent of the total supply of XLM, 50 billion XLM. This was a surprising move that also pushed the price of the digital currency up by more than 25 percent in two days. According to the dev team, burning such an enormous amount of XLM tokens, which had a value of $4.7 billion, was a good faith effort to show how committed they are to the platform.

Stellar Is Under Valued – Weiss Crypto Ratings

Earlier this month, Weiss Crypto Ratings said that Stellar Lumens is still undervalued. The financial analysis company also praised Stellar for its recent protocol upgrades. The firm also said that many Ripple users would get better service if they switch to Stellar.

The ongoing altcoin recovery has also been good on Stellar Lumens (XLM). The supporters of the coin are also happy with the recent performance of the coin. Even before the rally from the recent token burn, the digital currency has been performing pretty well. However, for Stellar to prove itself as a mainstream blockchain network, it still needs to do more work.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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