Brian Kelly, CNBC Fast Money Trader, the founder and CEO of BKCM LLC, an investment firm focused on digital currencies, and the author of “The Bitcoin Big Bang – How Alternative Currencies Are About to Change the World”, is promoting cryptocurrency again.
Following the December episode about Litecoin, Brian Kelly said that he had bought Stellar in CNBC’s Fast Money program January episode entitled "The next coin to surge". The price of Stellar currency jumped immediately after the episode was released.
— CNBC's Fast Money (@CNBCFastMoney) 11 January 2018
The main advantages of Stellar according to Brian Kelly:
- Created by founder of Ripple
- Working with IBM on cross border payments
- Faster and cheaper than Bitcoin
So now who do I look for? Someone who is very similar to Ripple, that has a deal with IBM, and I can make more money like Moneygram wants to do. Partnership with IBM, I think, is very important, as IBM doesn't get enough credit for what they are doing. I think that it [Stellar] is going to have another jump right there, as more news start to come out and people start to look to use this technology.
CNBC Fast Money Trader
Brian Kelly stated that Stellar is worth buying because the Moneygram deal with Ripple is a "watershed event" for the industry, and it is difficult to compete against Moneygram, as they are going to get their margins lower.
The price of Stellar started growing following the release of CNBC episode, having shown the increase of 35% within past 24 hours and currently continues to grow. Cryptocoin rose from $0,43 to $0,69 within one day, and the market capitalization of the coin increased from $7,8 billion to $12,3 during the same amount of time.
At the moment of press, these are main market parameters of Stellar:
- Average price: $0,66
- Marketcap: $11 898 593 050
- 24h volume: $413 712 000