To simply describe how does Stellar work, one has to go back to its origins in 2014. As a form of verification, Stellar uses a unique consensus algorithm called the Stellar Consensus Protocol, or SCP for short. The SCP enables Stellar to be fast, save energy, and be secure. Since it does not rely on either PoS or PoS algorithms, Stellar became one of the earliest blockchains to have a Byzantine agreement algorithm.
Stellar has a native crypto called Stellar Lumens, denoted by XLM, which gives this project its value. Every transaction that takes place within the Stellar blockchain uses XLM as a bridge currency. Stellar value comes from these XLM tokens, which can be directly converted between fiat and other cryptos.
XLM's meaning can be found in the goal of launching Stellar, which is bringing financial services and a way to use fiat currencies in parallel with cryptos. The main utility token of the Stellar blockchain has been a part of the cryptocurrency market since 2015. The XLM price reached its all-time high value of $0.93 some 5 years ago in 2018. Since then, it has gradually gone through several obstacles to reach its current position.
XLM is number 26 on the list of cryptos with the largest market capitalization on various leading crypto monitoring websites. But despite the contrast and dull improvement observed in the market prices, XLM is a unique crypto investment option whose return on investment index is up by 2885%.
Like any other product available in the crypto industry, stellar prices are subject to change every other instance. This happens for numerous reasons, and crypto traders who buy or sell XLM by checking the price of stellar need to know the main factors influencing it.
Any project development that surfaces regarding stellar tends to boost its value. Similarly, any failure or hack incident will lead XLM downward on the price chart.
The overall market outlook plays an important role in showing XLM supporters where the coin might be headed. In a largely bullish market, XLM or any other crypto would hardly go bearish.
Any significant shift in Bitcoin has the power to make crypto investors take a step back from the market and halt XLM movements. Furthermore, the flow of assets on various crypto exchanges also affects XLM prices.
The stellar price today is going below $1 at the time of writing because there is a general bearish sentiment unfolding on a global scale for cryptos. Due to this, XLM has reached $0.088 with a total market capitalization of $2.38 billion.
So, if you were to find out how much is one stellar then the answer would be the stellar price today. It might seem a bit daunting for anyone who has invested in it recently, but it is not a concern for experts or old-timers.
The current stellar price is just proof of what we have already explained in the above section regarding the factors that drive XLM prices every single time. The low price point does not overshadow the fact that stellar is backed by IT industry giants like IBM and Deloitte.
These top-notch computing and finance companies have always been interested in the revolutionary payment system used in this project. Additionally, the fact that stellar is a regulatory-compliant cryptocurrency makes the case even stronger for XLM.