Stellar Lumens (XLM) is currently placed at the 9th position due to its impressive run throughout 2019. XLM is currently trading at $0.12 seeing an increase of 64% in the last three months alone. The altcoin has also achieved its 2019 all-time high of $0.165.
Stellar is currently moving in a consolidation zone of $0.12 and $0.13 and analysts suggest that the price can go either way for the altcoin. Stellar has got its hopes higher with a number of the strategic partnership with institutional investors. The XLM community is quite bullish about the coin touching the $0.5 mark.
The recent surge and such a significant performance of XLM can be attributed to its community which has been promoting the token as well as the underlying technology for quite some time now. Thus the recent surge in prices can be attributed to positive promotions as well as numerous strategic partnership.
IS XLM Following on the Ripple Footsteps?
The Stellar community has been positioning the XLM token to be used in the banking sector, given the platform is considered to be quite secure and the transaction fee is also low. The current ambition of XLM seems to be following on the footsteps of Ripple, which has carved a niche for itself in the banking sector with its various banking solutions in the form of X-Current, xRapid and Ripple net.
Stellar has recently partnered with IBM and Deloitte along with payment service providers like Wirex. Stellar has also been targetting the startup sector, where it has partnered with the Pioneer organization from Israel. The partnership would see Pioneer using XLM as a form of incentive token for the users who participate in numerous contests organized by Pioneer.
Looking at the number of partnerships and developments made on the Stellar network along with the positive media attention that it has garnered, many believe that Stellar would be able to touch the mark of $0.5 towards the end of 2019.