XLM struggles to pass critical hurdles, according to price predictions.

As demand for Stellar (XLM/USD) increased, the price soared to its highest level since September 7. The price of XLM is at $0.3673, up 44 percent from its lowest point this month. With this increase, its entire market value has risen to be than $8.75 billion, making it the world’s 21st largest cryptocurrency.

Stellar fundamental analysis

Stellar is a blockchain initiative that specializes on cross-border payments. The Stellar Foundation manages the project, which was built by a former Ripple Labs co-founder.

The Stellar network facilitates the creation of digital representations of fiat currencies such as the US dollar and the Euro. It also provides a platform that allows developers to create their own currencies.

Circle, a major blockchain firm, for example, utilized it to create USD Coin, a stablecoin backed by the US dollar. The USDC is now worth over $32 billion.

The Stellar Foundation has also made significant investments in some of the most promising businesses. For example, it invested $15 million in Airtm, a business that allows users to send and receive money rapidly, earlier this year. It also made a $3 million investment in Tribal Credit and a $5 million investment in Wyre.