Stellar Lumens is a crypto with a very nice logo as it always reminds me of Interstellar, the 2014 epic science fiction film by visionary director Christopher Nolan. The production team created some historical scenes for SF fans, and one of the most memorable images was the black hole called Gargantua. Put on Hans Zimmer’s theme music, watch it and look at the Stellar Lumens logo afterwards. You immediately see my point.
The Stellar Lumens crypto of the blockchain platform with the same name is a breakout performer this year, and business magazine Forbes has also noticed this. Since many investors are looking for profitable investments in a loss-making stock market, you can be sure that their title will provide some nice clicks for the company.
Then again, the growth of this small crypto since the Corona crash of March 12-13 is also exceptional. While Bitcoin is flat for the year (or slightly higher) and Ethereum has already won a good 50%, this small crypto has grown at an incredible pace in 2020.
Traded as XLM, Stellar Lumens has risen 75% since early 2020. It skyrocketed as larger investors flock to performing assets.
Stellar, which falls just outside the top ten cryptocurrency tokens in terms of value, as measured by the (now) Binance website for crypto data CoinMarketCap, has doubled in value since its March low.
Only in the last week did Stellar just go up 40%.
Meanwhile, investors around the world are looking forward to a post-coronavirus economy and many believe that cryptocurrencies can play an important role.
Alex Kuptsikevich, senior financial analyst at FxPro summarizes the current sentiment very well: “Cryptocurrencies will likely be just as vulnerable to global threats as other assets of any kind. However, the difference may lie in the future. After all, some assets may lose their buyers forever, while others will build a new structure on the ruins. In the new economy, there will be a much larger space for purely digital projects.”