Since the turn of the year, Stellar (XLM) is the only major cryptocurrency not to have increased in price.
While that sinks in, bear in mind that most coins in and around the 12th ranked XLM have recorded anywhere between 100% and 1,100% growth during the same period.
So after a “stellar” year in 2018, which brought increased institutional adoption and major tech partnerships for the crypto project, why is Stellar now lagging behind?
The answer may be found in the question itself…
Casting an eye back to the final six months of 2018, Stellar regularly grabbed headlines by outperforming the rest of the crypto market. So much so, in fact, that while the rest of the market declined from summer to winter, XLM’s value actually increased.
The price increase was helped in no small part by a cavalcade of bullish news which made Stellar a sentimental favorite in 2018. Within the space of a few months, Stellar was picked up by IBM for use in its World Wire cross-border payments platform; added to Circle’s list of investable digital assets; and officially teased by Coinbase as one of the major coins they were considering listing.
This was accompanied by a fortuitous, but unfounded, rumor regarding Facebook’s utilization of Stellar for use in its own proprietary blockchain. A flattering article by the New York Times placed Stellar creator Jed McCaleb among the ten people “leading the blockchain revolution.” And Stellar was even adopted by UNICEF, as the aid organization expanded the list of currencies in which it could receive donations.