Want to know how a cryptocurrency suddenly gets hot?
Based on recent history, it’s actually quite simple: Have a talented or prominent blockchain designer as the company’s founder, and then sign up a couple of high-profile clients to use the blockchain. That’s it. That seems to be pretty much all you need for the price of a currency behind a technology to climb these days.
It worked for Ethereum and Ripple. And it’s now working for one of the newest entrants into the “alt-coin” universe — Stellar.
Just weeks into the new year, Stellar has seen the market value of its currency, “lumens,” rise from $2.5 billion to over $12 billion at a time when many virtual currencies have seen their market caps slip amid a crypto correction.