This week has been tough for the cryptocurrency market but Stellar (XLM) still came out as a winner, at least in terms of development. All top 100 cryptocurrencies went in the red during this week and Stellar (XLM) wasn’t an exception.
Therefore, it’s quite difficult to tell which cryptocurrency performed the best. However, Stellar (XLM) kept going strong and stayed in the top 20 list despite this recent market crash.
Stellar (XLM) Surpasses Expectations
Ethereum was expected to take over the cryptocurrency market ever since Vitalik Buterin who is the co-founder of Ethereum announced that “Casper” and “Plasma” are going to be launched during the upcoming future. However, Stellar (XLM) didn’t give up and kept on fighting for its spot.
The reason we are saying that Stellar (XLM) is fighting for its spot on the cryptocurrency market is because there are many other cryptocurrencies which offer smart contracts and dApps (decentralized apps) and they all compete against Stellar (XLM). Here some of the cryptocurrencies which offer similar services as Stellar (XLM): EOS, NEM and NEO.
The SDEX Project
In case you didn’t know, Stellar (XLM) published its 2018 Roadmap which included two goals. The first goal was to officially launch the Stellar Decentralized Exchange platform and the second one was to improve the XLM token by making it faster and cheaper.
The team that is in charge of these two goals is called SDEX. This team is filled with cryptocurrency veterans and they all working to build a “front-end for Stellar’s inherent decentralized exchange”. There are already 11 pairs of SDEX and the list is expected to expand during the upcoming months. Therefore, Stellar (XLM) will surely see a price spike once the SDEX project is finished.
Stellar (XLM) Current Price
Nonetheless, let’s check out Stellar (XLM)’s price in order to get an idea of how much the cryptocurrency needs to grow before it can reach the top 10 list.
The XLM token is on a downswing right now, being valued at $0.289050 according to Coinmarketcap. With that said, Stellar (XLM) still has a long road ahead before it can be considered as a top 10 cryptocurrency.