Stellar Price Chart Starts to Sparkle as Starlight Update Goes Live
The stars could be out for Stellar (XLM) investors as recent updates look set to challenge Ripple’s grip on the banking sector. For much of 2018, the chatter among crypto enthusiasts has centered on Ripple’s xRapid and its use of XRP to facilitate faster cross-border transactions. However, all that could be set to change in the coming months, thanks to Stellar’s Starlight update. Announced on October 25, the update will not only benefit existing users but those in the banking sector.
“We’re excited to release Starlight: a demo implementation of payment channels on Stellar, and a step toward a Lightning-compatible payment channel network,” reads the October 25 tweet.
Starlight Helps Stellar Price Shine
As news filtered across the internet, the price of Stellar experienced some immediate gains. Tracking the XLM price live on October 25, the USD value moved to $0.24 before dipping back down to $0.22. Despite the slight correction in the days following the announcement, the Stellar price chart at the start of November tracking 10% higher than it was in mid-October.
Throughout 2018, we’ve seen investors scramble to buy XLM in the wake of major announcements. When Kodak signaled its intent to use the Stellar blockchain to develop a new payment system, the dollar value surged. It was a similar story when IBM launched a project on Stellar. Although the current price of XLM is currently 50% down on what it was back in May, the year as a whole has been positive for the token. Although it hasn’t been immune to the bearish trend that’s ravaged the price of every crypto, its losses haven’t been as severe as some.
Slow and Steady Wins the Race
Indeed, as Ethereum (ETH) continues to struggle, Stellar price charts have remained fairly stable. Looking ahead, this should inspire confidence in those looking for long-term gains in 2019. Starlight could prove to be Stellar’s most significant update yet as it has the power to push it into the financial arena by offering a viable alternative to xRapid. Although the battle for crypto dominance is being fought on multiple fronts, banking is one of the most important. Finding a way into this sector could not only bolster the price of Stellar in the short-term, but for the foreseeable future.
Even if that doesn’t prove to be the case, Starlight is also set to improve the payment processors for consumers. As experts have said, a crypto’s ability to replace fiats will be predicated on its usability and scalability. Stellar’s development team is clearly pushing to achieve this on a personal and commercial scale. That, in turn, should help improve the price of XLM as we move into 2019. Based on this alone, now could be the time to invest. With the price low compared to what it was at the start of the year but with fortunes rising, there should be some margin for growth in the coming months.