Will Stellar (XLM) do it again ?

[carlfebz2]

Now the price $XLM has pump from $0.067 to $0.084 (+21%) after SDF announced about burn 55B XLM.
https://www.theblockcrypto.com/linked/45793/the-stellar-foundation-has-burned-over-50-of-the-total-xlm-token-supply-canceling-airdrop-programs
https://www.stellar.org/blog/sdfs-next-steps/

I think this is a desperate move by Stellar. They are really eager push the price up again to attract investors. Having a 20B supply right now is a good call for them since the current market condition is not good and having tons of supply will just make their token more useless. I'm expecting more development rather than cutting the total supply. And also more marketing to attract more users of the platform.
Mass adoption is what Stellar needs. If stellar just follows the marketing path of Ripple, They will surely surpass them since XRP is a very centralized token.

They've done it to attract attention and get into the news. And it's working in that mainstream publications are covering their coin burn:

https://www.bloomberg.com/news/articles/2018-11-20/bitcoin-rigging-criminal-probe-is-said-to-focus-on-tie-to-tether

Whether this interest can be built upon, sustained and attracts new buyers remains to be seen.

As expected for these news outlets to post up these kind of events as long these sources would able to post up something just to look themselves to be active then
they wont matter on what would be the content.Hence, they dont care on what are the current situation on projects that are currently into their news list.
As long it can dragged off readers then its already a good thing for them.About stellar then we cant completely judge if this one would able to get up or simply just stay still on where it is.

[Saint-loup]

I think current price troubles are entirely to do with the wider market. Admittedly the ATHs were due in large part to wider market trends as well, so it's difficult to determine what a reasonable price might be.

But Stellar is still a great project, one of the best out there in terms of what it can do. I would be surprised if this coin is not a huge success in the long term, with a considerably higher price to match.

I don't think so, I think it's just because of the new strategy of Denelle Dixon, the new CEO of Stellar since May 1st. When Jed McCaleb was CEO, there were many airdrops to promote XLM adoption. But now Denelle Dixon wants to reduce the circulating supply obviously.

Lowering the circulating supply will help the XLM be more attractive for the investors.the more chances of growing the value since high supply means cheaper the prices.

I remember when Bullrun happens late 2017 stellar is one of those currencies that spikes really high and thought to take at least rank 1-5 nut ofcourse obviously it didn't happen.
But with the new CEO ?i think XLM has new future as well,so for the XLM supporters out there and those.planning to hold?better do it now or be late soon.

Yes it's obviously for increasing the price per XLM she did that. But I'm not sure it will be a winning strategy on the long term. Jed made Stellar famous because of all the give aways he did, now Stellar won't be able to be discovered by newbies and no coiners. It's sad because Stellar was good for all the ecosystem of the cryptocurrencies.

[diazepam666]

When second level coin like ethereum or xrp unable to show the market presence and growth in the market. I am not sure how Stellar lumen can show the touch potential in the current competitive crypto market.

Adoption of stellar in the project alone also so will not work.

[Periodik]

I think with them burning all of those coins and then giving a bunch away it will draw more interest in the project. Whenever those XLM hit everyone's Keybase wallets, there's a lot better chance for people to hold them thinking they may eventually be worth something now. However, it will probably not be good for the price in the short term with all of the coins that will be dropping.

It has actually caused a quick pump for the price of Stellar (XLM). That was 55 billions of Stellar (XLM) burned. That was a big deal to the Stellar community and those who are observing Stellar's development. That was billions of USD burned from Stellar's wallet. That was a big step done by the Stellar team. But then after the quick pump, it was followed by a red candle immediately. Stellar has to show more than just token burning.