XLM coin issuance and listing trading platforms at a glance

XLM (Stellar Lumens), issued by the Stellar Development Foundation, is available for trading on major cryptocurrency exchanges such as Binance, Coinbase, and Kraken, and is used for network transactions and cross-border payments.

Oct 08, 2024 at 06:06 am

XLM Coin Issuance and Listing Trading Platforms at a Glance

1. Coin Issuance

XLM (Stellar Lumens) was created in July 2014 by the Stellar Development Foundation, a non-profit organization. The XLM token was initially known as the "Stellar" token before being rebranded in 2019.

The initial allocation of XLM tokens was 105,000,000,000. Approximately 50% of these tokens were distributed to key partners involved in the development of the Stellar network, including Stripe and BlackRock. The remaining tokens were retained by the Stellar Development Foundation to fund its operations and support the growth of the network.

2. Trading Platforms

XLM tokens are currently available for trading on a wide range of cryptocurrency exchanges, including:

• Binance
• Coinbase
• Kraken
• Gemini
• Bittrex
• Poloniex
• Huobi
• OKEx
• KuCoin

3. Usage of XLM

XLM tokens are used to facilitate transactions on the Stellar network. Users need to hold a minimum balance of XLM in their wallet to create accounts, send transactions, and participate in other activities on the network.

XLM tokens also serve as a bridge currency for cross-border payments. By transferring XLM to a destination wallet and then converting it to the desired fiat currency, users can avoid high fees and delays associated with traditional international remittances.

Additionally, XLM tokens can be used to support and participate in decentralized applications built on the Stellar network, such as:

• Stablecoins
• Wallets
• Marketplaces
• Identity management systems

4. Market Performance

The price of XLM tokens has fluctuated significantly in recent years, following the broader trends in the cryptocurrency market. In January 2018, the value of XLM hit an all-time high of approximately $0.93, but it later declined during the bear market of 2018-2019.

As of March 2023, the price of XLM is around $0.09, with a market capitalization of approximately $2.2 billion. The coin's market rank among all cryptocurrencies is within the top 25.