Stellar (XLM) has captured the crypto market’s attention with a remarkable 478% price surge in November, climbing to $0.65 for the first time since May 2021. Jed McCaleb, co-founder of Ripple and creator of Stellar, recently shared insights into why he believes Stellar remains undervalued despite its impressive growth.
A lot of new people looking at Stellar so I thought I'd write down some quick thoughts about why Stellar is worth your time.
— Jed McCaleb (@JedMcCaleb) November 23, 2024
IMHO Stellar is the most underrated and least understood crypto project. A lot of recent attention but people are still sleeping on this network.
Stellar…
Why Stellar (XLM) Stands Out: Real-World Utility and Technical Strengths
McCaleb highlighted several key factors that position Stellar as a unique and undervalued player in the blockchain space:
- High Transaction Volumes: Stellar processes ten times more daily transactions than Ethereum, thanks to its practical use in real-world scenarios.
- Integrated Features: With built-in tools like stablecoin issuance, token creation, and a decentralized exchange, Stellar provides an all-in-one blockchain solution for businesses and developers.
- Low Transaction Fees: Stellar’s infrastructure enables ultra-low-cost transactions, making it an attractive choice for global financial activities.
Soroban: A Smarter Smart Contract Platform
Stellar’s Soroban platform offers secure and efficient smart contract functionality, addressing vulnerabilities like reentrancy issues. McCaleb emphasized that Soroban underscores Stellar’s dedication to providing reliable tools for developers.
Mission-Driven Approach
Stellar’s focus on financial inclusion sets it apart. The platform aims to enhance access to financial services in underbanked regions, enabling affordable and efficient cross-border asset transfers.
Also Read: Stellar (XLM) Eyes $3–$5 Breakout Amid Seven-Year “Adam & Eve” Pattern Formation
XLM’s Explosive Growth and Regulatory Implications
The recent resignation of SEC Chair Gary Gensler has spurred renewed interest in cryptocurrencies tied to McCaleb. While XRP saw a 130% price increase this year, XLM outshined its rival with its November rally.
McCaleb attributes this outperformance to Stellar’s robust infrastructure and real-world utility, which position it as a critical player in digital payments.
What’s Next for Stellar?
With its strong technical foundation, mission-driven approach, and rising market momentum, Stellar appears poised to expand its role in the cryptocurrency landscape. McCaleb remains optimistic, stating that the platform’s innovations will continue to drive adoption and long-term value.
Could XLM’s rally mark the beginning of a new era for Stellar? The market seems to think so.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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