Jed McCaleb Explains Why He Believes XLM Is One of the Most Underrated Cryptocurrencies

Jed McCaleb, the co-founder of Ripple Labs and the creator of Stellar, recently shared his insights on why he believes XLM is one of the most underrated cryptocurrencies.

The co-founder of Ripple Labs and the creator of Stellar, Jed McCaleb, recently shared his thoughts on why he believes XLM is one of the most underrated cryptocurrencies.

In a series of tweets, McCaleb highlighted that Stellar already processes more daily transactions than most other blockchains, handling 10 times the volume of Ethereum.

“Unlike many blockchain projects, Stellar is actively used in real-world transactions every day. This sets it apart from others in the space,” he said.

He also brought up Stellar’s simplicity and well-thought-out design. The network includes built-in features such as stablecoin and token issuance, as well as a decentralized exchange.

McCaleb then discussed Stellar’s on-chain governance system, followed by the company’s smart contract platform, Soroban. Soroban is designed to be both safer and more efficient, avoiding common pitfalls like reentrancy vulnerabilities.

Next, McCaleb pointed out Stellar's remarkably low transaction fees, which he described as "basically free."

A lot of new people looking at Stellar so I thought I'd write down some quick thoughts about why Stellar is worth your time.

In his opinion, Stellar has world-class engineering and some of the best developer documentation in the industry.

The documentation makes it easy for developers to get started and build applications on the network, which drives further adoption and innovation.

Finally, McCaleb stressed that Stellar is focused on revolutionizing digital payments. He believes the most impactful use of cryptocurrency is as a means of digital money.

Stellar’s goal is to provide financial services to communities without access to banks and to enable businesses to transfer assets more easily and cheaply than through traditional banks.

XLM price up 463% in November

The post comes at a time when coins associated with McCaleb show outperformance on the market.

This is due to a variety of reasons, such as the official resignation of Gary Gensler as SEC chair. Due to the regulatory problems the SEC v. Ripple case caused for XRP, the price of the token was suppressed for years. But, the resignation news as one of the reasons triggered a 170% surge from the beginning of the year.

Being XRP's rival of sector and sort of beta play, XLM of Stellar saw an even more stunning price surge of almost 500%, reaching at $0.65 a high not seen since May 2021.