Stellar Lumens (XLM) has experienced a very impressive 2018 in terms of network expansion. According to data displayed in the website Stellar Expert the number of active accounts on the network has expanded at very high rates during 2018. At the beginning of the year, there were less than 120k accounts. Now there are more than 2 million.
Stellar Lumens Expands in the Crypto Market
Everyone knows that the cryptocurrency market has experienced a very hard downtrend during 2018. Most of the virtual currencies lost part of their value, including Stellar Lumens. During this year, Stellar lost around 85% of its price.
However, the number of active accounts on the network continues to grow. How is that possible that during such a long bear market the network continues to grow? Stellar has been expanding signing partnerships with several companies trying to increase its presence in the crypto world.
The aforementioned numbers show that the network has grown more than 10 times during the current year.
Stellar’s official Reddit account wrote as follows:
“It took almost four years to get from 0 to 1,000,000 accounts, and only two months to double the number. The network effect in action!”
One of the most important things related to this impressive growth is related to the massive airdrop conducted by Stellar. After signing a partnership with Blockchain.com, Stellar decided to conduct a $125 million airdrop. Because of this, Stellar became the network performing the largest airdrop in the market ever.
IBM and Stellar have also been working side by side in many different fields. We wrote a few weeks ago that IBM and Stellar launched a program that allows consumers and merchants in the South Pacific region to make cross-border payments. IBM is using Stellar Lumens (XLM) as well for these projects.
Furthermore, there is another important reason related to the growth in the network. The Diruna project registered more than 1 million active accounts. In this way, Diruna (DRN) helped Stellar increase the number of active accounts on the network.
Currently, Stellar Lumens is the 4th largest cryptocurrency with a market capitalization of $3.16 billion. Each XLM coin can be bought for $0.162.
Want to learn more about Stellar XLM? Read our Beginner’s Guide to XLM, complete with a history of the project and fundamentals of how the coin provides value. A search for Stellar on our site will bring up the latest XLM articles like Weiss Ratings giving Stellar XLM a “buy” rating.
Interested in investing in Stellar? You’ll want to start with our XLM price prediction article—including short-term and long-term technical analysis. (Always do your own research and read the site disclaimer)). If you’re interested in buying Stellar, you can learn how to buy XLM on Binance, our suggested exchange for new cryptocurrency investors.