Stellar

Stellar is an open network that allows money to be moved and stored. When it was released in July 2014, one of its goals was boosting financial inclusion by reaching the world’s unbanked — but soon afterwards, its priorities shifted to helping financial firms connect with one another through blockchain technology. The network’s native token, lumens, serves as a bridge that makes it less expensive to trade assets across borders. All of this aims to challenge existing payment providers, who often charge high fees for a similar service.

The Stellar project was launched in 2014 by Ripple co-founder Jed McCaleb and his partner Joyce Kim. McCaleb left Ripple in 2013 due to disagreements about the project’s vision with fellow co-founders.

Stellar is an open network that allows money to be moved and stored. When it was released in July 2014, one of its goals was boosting financial inclusion by reaching the world’s unbanked—but its priorities shifted to helping financial firms connect with one another through blockchain technology. 

The network's native token, lumens, serves as a bridge that makes it less expensive to trade assets across borders. All of this aims to challenge existing payment providers, who often charge high fees for a similar service.

There are about 50 billion lumens in existence. No more lumens will be created. There are currently about 20 billion lumens circulating in the open market

The Stellar Development Foundation, which is a non-profit organization that supports adoption of the Stellar Lumens payment network, was created in collaboration with Stripe CEO Patrick Collison. Stripe received 2 billion lumens in return for a $3 million seed investment. 

The Stellar Development Foundation wishes to put a hold on the upcoming Protocol 20 upgrade of the Stellar blockchain network, originally scheduled for January 30. This decision follows the discovery of a bug that could impact the Soroban smart contract transactions.

Stellar Development Foundation Votes to Delay Protocol 20 Upgrade Amid Bug Concerns

A bug identified on Jan. 25 was deemed to pose "little risk," but after receiving "robust feedback" from the blockchain's developer community, the Stellar Development Foundation opted to "disarm" its validators ahead of the Jan. 30 target date for the Protocol 20 upgrade.

Stellar's Foundation Supports Delay of Smart-Contracts Upgrade After Bug Found

Bitcoin

Ethereum

Solana

Solana (CRYPTO: SOL) has emerged as one of the top gainers among Layer-1 (or base) blockchains, up over 80% in the past month. Other top-performing Layer-1 cryptos in the past month include Avalanche (CRYPTO: AVAX) up 82%, Cardano (CRYPTO: ADA) up 28%, and Tron (CRYPTO: TRX) which gained 8%.

Solana's Stellar Month: Nearing $70 As Top Layer-1 Crypto, Surpassing Ethereum And Bitcoin

The nine-year-old project, one of the earliest major blockchains, is getting a facelift to incorporate "smart contracts," that theoretically could attract new applications and users – and potentially more demand for the XLM token.

Stellar, Early Blockchain Built for Payments, Adds Smart Contracts to Take on Ethereum

A Bloomberg crypto market analyst says Ethereum (ETH) and one XRP rival are dominating institutional interest in real-world assets issued on public blockchains. Jamie Coutts says on the social media platform X that traditional finance is driving real-world asset (RWA) tokenization, and he predicts that more firms will enter the space soon.

Ethereum and One XRP Rival Dominating Institutional Interest for Real-World Asset Tokenization: Bloomberg Analyst

Stellar has partnered with security firm Certora to conduct security audit checks for its upcoming smart contracts platform, Soroban.

Stellar conducts security checks for upcoming smart contracts platform Soroban

Circle announced Tuesday the launch of its euro-backed stablecoin on the Stellar network Layer 1 blockchain.

Circle launches EURC stablecoin on Stellar network

With expanding EURC stablecoin to Stellar, Circle expects to boost European remittance channels, cross-border payments, treasury management and aid disbursement.

Circle's Euro-Pegged Stablecoin Is Now Available on Stellar Network

Circle's EUR-pegged stablecoin on Stellar now means that EURC is live on three different blockchains including Ethereum and Avalanche.

Circle's EURC Stablecoin Launches on Stellar Network

Dogecoin

Dogecoin moved away from a key price floor on Saturday, as the meme coin ended a three-day winless run. Price has traded in the red since Wednesday, leading to a collision with a support point of $0.0620. Stellar also rallied, nearing a one-month high in the process.

Biggest Movers: DOGE Moves Away From Support Level, XLM Nears 1-Month High

Cronos rose for a second consecutive session, as the token continued to move away from a recent three-month low. Volatility in the marketplace was high on Friday, after several days of price consolidation. Stellar also surged, moving to a three-day high.

Biggest Movers: CRO Moves From 3-Month Low, XLM Extends Recent Gains

Toncoin was a big mover on Thursday, as the token rose by nearly 4%, closing in on the $1.90 level in the process. The rally came despite crypto price consolidation, with the global market cap largely unchanged as of writing. Stellar also surged, remaining near a recent two-week high.

Biggest Movers: TON Moves Towards $1.90, XLM Remains Near Recent Highs

Stellar surged by as much as 7% on Monday, despite sentiment in crypto markets being mostly bearish to start the week. The token rallied for a second straight session, after a recent collision with a key price floor. Toncoin also rose, hitting a fresh multi-month high.

Biggest Movers: XLM 7% Higher, TON Nears $2.00 Threshold

The latest price moves in bitcoin (BTC) and crypto markets in context for Sept 4, 2023. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Bitcoin Hovers Below $26K; Stellar's XLM Rallies

The price of Stellar (XLM) skyrocketed 10% over the past day, while the wider crypto market is trading flat.

XLM Surges 10% As Stellar Teases 'Something Cool' on the Horizon

Stellar was a notable mover during Saturday's session, as the token returned to the green to start the weekend. Prices recently fell lower for six straight days, however, bulls have reentered the market snapping this streak in the process. Dogecoin also rebounded today.

Biggest Movers: XLM, DOGE Rebound on Saturday, Following Recent Market Sell Off

The foundation behind XRP rival Stellar (XLM) is acquiring a minority stake in the payments giant MoneyGram International (MGI).

XRP Rival Stellar Lumens (XLM) Acquires Stake in Cash Transfer Giant MoneyGram Via Foundation

Stellar has announced its investment in the major money transfer company MoneyGram International.

Payments Network Stellar Announces Investment in Money Transfer Firm MoneyGram

The two money movers have been working together for years.

Stellar Invests in MoneyGram in Bid to Be a ‘Digital-Forward' FinTech Leader

Bitcoin Cash

Bitcoin Cash was one of Monday's biggest movers, rising by as much as 5%, despite markets mostly consolidating to start the week. The global crypto market cap has been largely unchanged, with volatility mostly muted. Stellar also rose higher, avoiding a drop below a key support point.

Biggest Movers: BCH 5% Higher on Monday, XLM Avoids Drop Below Support

Cryptocurrency giants, bitcoin and ether, meanwhile, lost ground during the month.

MakerDAO's MKR, Ripple's XRP and Stellar's XLM Led Crypto Gainers in July

Solana dropped for a third consecutive session on Tuesday, as the token started the month of August nearly 5% lower. Overall, the global market cap was mostly in the red, dropping by 1.44% as of writing. Stellar fell to a one-week low, following a four-day losing streak of its own.

Biggest Movers: SOL, XLM 5% Lower, as Bearish Streak Extends

Euro bulls are set for an anxious summer ahead as doubts creep in over how far the ostensibly still-hawkish European Central Bank will go with interest rate rises.

Analysis: Euro's stellar run in doubt as ECB muddies rate outlook

Bitcoin (CRYPTO: BTC) moved higher, with the cryptocurrency prices trading above the $29,400 level on Thursday. Ethereum (CRYPTO: ETH) also recorded gains, but traded below the key $1,900 mark this morning.

Bitcoin, Ethereum Move Higher; Stellar Emerges As Top Gainer

Products focused on XLM saw nearly 63% higher inflows this year.

News for Stellar Crypto (XLM)