Stellar burned half of it's supply and Price Spikes

[pgbit]

The burn news has had a positive impact in the price of XLM but I think that positive growth would be affected when 100 million XLM would be released into the market through the Keybase airdrop program, that's almost $8 million worth of XLM that would be given away to airdroppers and I have a feeling that while many of the recipients would be holding the coin, many of them would be dumping it which would have a negative effect on price, or do you think that the airdrop would have no effect at all?

[watergold]

After the news, the price of XLM has increased by 17%, many people get profit here by burning the Stellar Foundation, the price will continue to rise, maybe this has been a good decision, I as a XLM buyer happy with this news.

[jsizar]

These guys really want to pump thier project

[naska21]

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

Good move, who knows, probably they are going to target $1, the price promised by McCaleb a time ago. I didn't miss this spike and sold a little bit in hope the spike will decay and I  buy back.

[boltz]

Stellar was good some years ago when they were going public with all the updates but now I'm not so sure about their marketing idea. Its true that half of the supply was burned and price jumped a little as this was normal but its just for a couple of days and then it will be stable around the current price. Further , its anyone choice if they want to hold XLM or simply move towards better altcoins with less supply and better tech.

[qiman]

Stellar is one of those really good long term blockchains. It is a shame I do not hold any right now but it shows a lot of promise and it is good to know there is a responsible team behind it. I like it when coin projects make deflationary measures to help increase the price and improve on the infrastructure altogether. Kudos to the STELLAR holders and Team for keeping steadfast to their goals and I wish this blockchain project all the success. Maybe on the retracement I may purchase a small holding to put in my portfolio, cannot hurt to do that can it?

[ned.ryerson]

the holders of this coin are very lucky. Those people who bought XLM a few months ago now managed to make very good money and I think that the price of the coin will continue to increase

[albrots]

Burning the supply of 55 billion XLM with a value of around $ 4.7 billion is a considerable amount that they burn. This is a big step for stellar and will greatly benefit investors and current stellar holders. Maybe the Stellar has thought about it with a strong analysis of Stellar's future. Hopefully this is a positive step, because the less supply you have, the price will automatically go up.

[livingfree]

Worth $4.4B was burned.

Well, I'm speechless and I guess this is the initiative for the team and which will be followed by other coins. I should say that those who are holding XLM are quite in good hands and can expect something good for this coin.

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).

That's also the purpose which I'm thinking. The law of supply and demand.

[poornamelessme]

I was wondering why Stellar did that little pump there, thought perhaps there was a new partnership or some other sort of news. But burning half the supply would do it...

I can't help but wonder what the SEC thinks when things like this happen and if it pushes a coin further into the security category in their minds.

I don't hold any Stellar nor mean this as FUD, or really care either way. Just curious how coins get around being a security when they do things like this.

[joinfree]

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

Coin burn, coin swap has always been a remedy to helping increase the price and growth of a cryptocurrency. This was actually an insane and bold step from the Stellar Foundation but this has not affected the price that much to be honest unless you bought loads of it. Stellar has great blockchain network with great features such as issuance of other cryptocurrency on its network. Their team should really promote their products so that other upcoming projects can make use of their services which would go a long way to grow their network.

[ableh]

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

After giving a lot of airdrops now they burn the half, this is like a buy back program without spending money. This is what I like, they always innovate and surprise their fans. But it seems that this news does not really affect to the price of XLM in the market, because even the supply has decreases, but if demand does not increase it does not mean anything. So I think, to increase the demand, they should not only burn the half, but also have to add use value to XLM itself.

[xiboothrezi]

Using funds collected for business operations shows commitment to investors and rewards their tokens at a fairer price. This is one of the benefits of token burn, at least investors and holders get greater transparency that the project holder does not pursue profit alone.

After giving a lot of airdrops now they burn the half, this is like a buy back program without spending money. This is what I like, they always innovate and surprise their fans. But it seems that this news does not really affect to the price of XLM in the market, because even the supply has decreases, but if demand does not increase it does not mean anything. So I think, to increase the demand, they should not only burn the half, but also have to add use value to XLM itself.

It is quite innovative. There are too many negative rumors about this, reportedly because there is no good news then they only plan to make it.

[Firefoxx]

This is an incredible news, when I first heard of it I was totally pleased because stellar is a potential platform and should have higher rate and I'm glad they burned such huge amount and let's watch more move from it. Everybody is actually happy with stellar token burn. Congrats to them I must say. Indeed a good move.

[ethereumhunter]

If the dev thinks with burning the supply will help the price will increase, then that will be great since the supply was reduced, demand hopefully will be an increase, and that will affect the price. I hope that there is something change for stellar in the market later. But I think something happens in the market because after that news, it seems, the price trying to increase although not much. And if this continues, then I think the price will grow more, and that is good for the coin itself.

[kooboat]

The increase in price of stellar was expected, it is always a usual occurrence anytime there is a token burning event. Am glad that I have received this piece of information on time. Earlier on, I was wondering what might have caused the little XLM I have in my wallet to spike all of a sudden.

[Drai]

Considering the amount of coin that the XLM foundation burned, I was expecting a much higher increase in price, I remember how the news of token burning used to have a much bigger impact on the price of a coin in late 2017/early 2018 period but I guess we have passed that stage now, this is a good move by the stellar foundation, it seems they are doing everything possible to give XLM the attention it deserves.

[dark08]

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

A price spikes after burning half of it supply is not suprising this is normal to crypto world specially if the aktcoin that announce a burning is popular, now I'm expecting more increase after this news spread to the market.

[Onuohakk]

Yeah...Of course they only burn from the reserved and not from circulating supply. I keep wondering, why primed billions of token you probably had no need for. Stuffs like this justified Trump's statement when he said 'Bitcoin is money cut from thin air'

[Harrydose]

Yeah...Of course they only burn from the reserved and not from circulating supply. I keep wondering, why primed billions of token you probably had no need for. Stuffs like this justified Trump's statement when he said 'Bitcoin is money cut from thin air'

Agreed! Mate.