The latest craze in the digital currency of 2018 is stellar. The cryptocurrency rose over 65 percent since Friday landing a spot in the top ten largest cryptocurrencies by market capitalization.
Stellar gained a market cap of $10 billion as of Tuesday, making it the eight largest cryptocurrency, based of CoinMarketCap data. According to the website, stellar traded 17.5 more on the day close to 56.4 cents.
Stellar may have similarities with other digital coin such as the use of blockchain technology. However, unlike other popular digital currencies, stellar’s transactions are settled within 2 to 5 seconds which offers users a quick exchange of government backed currencies like converting euros into U.S. dollars. The formal name for stellar coins is lumens or XLM.
The most notable user of Stellar’s network is IBM, incorporating the network to make a cross border payment system with the inclusion of some prominent banks. Other partners also include the consulting firm Deloitte.
Based on data released by Coinbase, the largest cryptocurrency, Bitcoin, lost its grip on its upward movement for the last two weeks. Bitcoin traded a bit higher on Tuesday, closely reaching $13,880, dropping 12 percent over the last week.
The year 2017 was considered as the year of ripple basing on percentage change. Despite of the popularity bitcoin gained over the last 12 months, shortly climbing approximately 1,900 percent.
XRP or Ripple rose 35,500 percent reaching $2.30 the last year. Taking second place by market capitalization. Ripple traded 2 percent more on Tuesday close to $2.44, possessing a market cap of $94.65 billion based on CoinMarketCap. Like Stellar, Ripple also concentrates on payments.