Stellar burned half of it's supply and Price Spikes

[Harrydose]

The Stellar Foundation burned half of its digital token’s supply of around 55 billion XLM feed an approximate value of $ 4.7 billion were burned. On Monday, the foundation announced that they have done this for network growth. The announcement made during the stellar Meridian Conference by the CEO of stellar Foundation, Denelle Dixon.

Source: TheCoinRepublic

[peempeem]

Doesn't surprise me that everyone there applauded it, they're already holders and now is a reduced supply.

Such a sudden decision and not by any consensus either. If you're going to do something like that, why not do it in steps instead of just one fell swoop.

I sure as hell won't go near any project with the names of those attached ever.

[binhvo1505]

The Stellar Foundation burned half of its digital token’s supply of around 55 billion XLM feed an approximate value of $ 4.7 billion were burned. On Monday, the foundation announced that they have done this for network growth. The announcement made during the stellar Meridian Conference by the CEO of stellar Foundation, Denelle Dixon.

Source: TheCoinRepublic

Yes, I have heard this news and immediately XLM has increased by more than 20%. This is really a good sign that businesses are doing their best to grow.
This is also considered to be an action to show that they are always aiming at business development, I highly appreciate this strategy. Stellar is a reliable business to buy and hold for long periods.

[Coyster]

I do not hold stellar coins, neither do i intend to, but I have this feeling that this is a smart move, now and even for long term benefits, there is no need keepingi millions of tokens in circulation, and the price is of the coin still stays low.

This would create scarcity for sure, reduce the supply as well, and  increase demand, what all this would do is to give a boost to the price of the coin(stellar), which according to the article it already has, as they have increased by 20% or more in just 24 hours or so, more projects/altcoins should adopt this strategy I think.

[samcrypto]

They burned half of its supply, its not a small money and of course investors and hodlers wants to have a limited supply so the price can finally go up. Stellar is a good coin and this action can really help them grow in the future. The whales are joining this trend for sure, get more now and wait for the peak price again of XLM.

[chaoscoinz]

If I didn't know any better, I'd say this was a really desperate move. Whether or not is was a necessary one, only time will tell. I can almost guarantee all of Stellar's giveaway programs have ended with no plans to have any in the near future. At this point, Stellar seems to be quite obsolete, for one it is a very centralized platform like the Ripple. With news of China getting ready to create there own gold backed stable coins, the fear and uncertainty is definitely building. The desperation of centralized crypto-currencies like Stellar couldn't be any clearer.

[carter34]

This is a good news for stellar hodlers. It shows the team is really working on there project. Is a platform that is been used now by icos, I guess it will also give some value to them.

[dimonstration]

To be able to increase their price they come up to this idea, while it is unexpected move I hope the team really did a throughout analysis before doing it and will not affect them in the future, but their decision now will definitely benefit the holders and investors if they will provide more ways to market their product alot it can move up in it's today spot.

[Sri rahayu]

They burned half of its supply, its not a small money and of course investors and hodlers wants to have a limited supply so the price can finally go up. Stellar is a good coin and this action can really help them grow in the future. The whales are joining this trend for sure, get more now and wait for the peak price again of XLM.

True what you say, that's a pretty much amount in my opinion. And I think this will also have a positive effect on projects running on the Stellar platform.

[mirgo1791]

as uses with the accounting of finance on appealing treasuries of balance with the funds on possession developer might work on decision as referring tasks on completion to manage as reducing of waste on risks and gains with excessive of pools on ledger as expecting with more of work on involving of different manage on compilation.

[bryant.coleman]

I was holding some Stellar Lumens, and I was glad that the price went up. I was unaware that the Stellar Foundation was behind the price rise, and came to know about it only after reading this thread. But still I don't think that this can have a long-lasting effect. The coins being held by Stellar Foundation was outside free-float. These coins were never traded, and therefore the impact should be minimal. On the other hand, had the Stellar Foundation decided to dump all these coins in to the market in a short duration, then the prices would have surely crashed.

[Dpat]

This is the only un-natural technique of the almost every coin developer applying to increase the price of that coin. This strategy is simple which applies the demand-supply rule, where if the supply falls and the demand remain same then the price will go up. So, Stellar is a very good coin and have the own blockchain where the token creator demanded this coin. So, demand is increasing day-by-day. Thus, cutting up the supply by burning the supply ultimately push the price up.

[desticy]

Stellar is one of my favorite ponets.
Although I don’t like to be attached to investment instruments, the stellar seems to me a very promising coin, able to hold its price against market unrest for a long time.
I think the project team did the right thing by reducing the circulation of coins and thereby increasing their attractiveness.

[o48o]

The Stellar Foundation burned half of its digital token’s supply of around 55 billion XLM feed an approximate value of $ 4.7 billion were burned. On Monday, the foundation announced that they have done this for network growth. The announcement made during the stellar Meridian Conference by the CEO of stellar Foundation, Denelle Dixon.

Source: TheCoinRepublic

Wow, i heard there was some burning but that's a lot! Has there even been such a large value public burns in the history of crypto, or is this the largest yet? I think i have followed this space pretty closely for a long time and i haven't heard of such, but so many things are happening that i always miss something.

[oxgroth]

How to make pump
1. burn 50% of supply

[Palider]

Now I just heard about it and it is true that its price has risen 17.81% and I have seen the ROI reach 2,600 as well. The stellar buyers were fortunate this past weekend as I am sure they will now receive easy profit by pumping in the price. Token burning is a great help in pumping the price of the token. Why don't other tokens do this? Tha now experiencing a serious dump. This will help them to recover from the collapse of their coin and also give profit to those who believe in their project.

[Nivia1st]

this is good for the future of XLM. the fewer coins there is the more likely the price to go up. so when the market starts moving up, I think XLM will experience a high rise. Maybe now we don't feel the effects of all that, but when the time comes Stellar investors will definitely benefit from this.

[nxnqauff]

The Stellar Foundation burned half of its digital token’s supply of around 55 billion XLM feed an approximate value of $ 4.7 billion were burned. On Monday, the foundation announced that they have done this for network growth. The announcement made during the stellar Meridian Conference by the CEO of stellar Foundation, Denelle Dixon.

Source: TheCoinRepublic

This is a very good news. But they are also giving away lots of coins through airdrops. However, I did not get the keybase airdrop of xlm last month yet.I hope they will still pay that.

[Peanyut991]

General rules say the less supply of coins, the more expensive the price of coins. Maybe the Stellar team is thinking of increasing the price of their coins (XLM).

[knuckey]

Only aimed at growing the network and making it more efficient in the future, they burn half of the total supply of tokens
Indeed the price of the token has risen, but will it last long or even fall back

They better give it free to everyone, like airdrops at the start of the stellar launch