Stellar burned half of it's supply and Price Spikes

[mu_enrico]

When the price doesn't go up, why the logic always to burn, that's lazy guys! It also means that the team doesn't have adequate planning at the conception.

They will airdrop some XLM on 15 Nov, right? Brace for the dump!

[jr.coastapps]

When the price doesn't go up, why the logic always to burn, that's lazy guys! It also means that the team doesn't have adequate planning at the conception.

They will airdrop some XLM on 15 Nov, right? Brace for the dump!

I think. They have proper planning to burn the tokens for the speculation of the the Price. Yeah! The XLM Airdrop is on 15 Nov

[miningguru]

When the price doesn't go up, why the logic always to burn, that's lazy guys! It also means that the team doesn't have adequate planning at the conception.

They will airdrop some XLM on 15 Nov, right? Brace for the dump!

Maybe it is one of the technique to increase the price of any coin, now many companies are following the same procedure by burning their supply. Sometimes it is impossible for the company to keep updating about their developments, but as old coin, we might see some developments from this stellar.

[Jating]

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.

I don't think they can do anything when SEC deem Stellar as a security token now that they have burned huge amount of their tokens.

Checking the price at coinmarketcap right now, $0.080939 USD (-0.37%), so the pump is over now?

Or probably we can see a huge surge in the price if they did this on a bullish trend, so I don't know if the timing is right.

[huu78]

Not surprising a currency that is burned to grow the price they let me look supply a little and impact on the increase in their coin.
Usually occurs when there is news before combustion will occur a very significant coin increases due to more demand than their supply.

[freedomgo]

Well that's a good news, it will favor the investors who are still holding the coin.
Cutting the supply into half means less supply and could result to more demand, if XRP were able to have a good price despite of the high supply, I believe Stellar can one day grow like XRP or even surpass its success.

I notice that XPR and Stellar have some kind of price movement relationship or correlation.

[X-ray]

Always baffle me how they got all the money for the massive air drops they held even in the past and it seems that they are gaining money by using this method I suppose? Anyone who has knowledge regarding this may share the information?
Also to I think that the air drop main purpose is to keep the coin in fame or popular but isn't burning their own coin essentially do literally the same if price is doubled or just making them losing if the price increase is not sufficient enough to cover the tokens they burned in the process?

[Pecunia non olet]

I am afraid that Stellar team made this decision because they see that their coin is slowly dying (look at the chart) and they wanted to attract more investors to raise the price of 1 coin in the short term - a good way how to exit scam.

[ragavancoin]

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

it will be good new for all stellar holders because of they are burns 55 billion toknes in total supply now we can see that impact the xlm price is increasing and we can expat big pump soon.

[matchi2011]

I am afraid that Stellar team made this decision because they see that their coin is slowly dying (look at the chart) and they wanted to attract more investors to raise the price of 1 coin in the short term - a good way how to exit scam.

It can't be deny that this move really impacted the market but who knows how long it would take and how the supporters and those communities behind this project will see it. There's always two sides of opinions and it can't please everyone. Whatever the team are planning around if it's
for the betterment and for long term successions it's best to see that there's team who are working behind it.

[cichaescut]

In my opinion it is a great move from stellar team, because of the lack of updates, they made something to increase the coin value. It would be awesome if coins like ETH would do the same to finally move from the dead spot.

[Drai]

I remember a time when a news like this would have boosted the price of XLM to more than +1000% but as it stands now, the price barely spiked above +30% and has been gradually retracting back to it's previous price, I know that the Cryptocurrency is maturing and we have moved past the stage where a little news (or major news in this case) moves price of tokens very high but it would have been nice to see a very bullish movement since a whole 50% if supply was burned in a top 10 coin on Coinmarketcap.

[meliodas]

This is basic economics. When there is too much supply and the demand is very low then the price will plunge. The stellar team realized that and they made a move to burned half of its supply and as they able to maintain the demand for their cryptocurrency, the price spikes up because people know that burning half of its supply is a good news and it increases the demand and resulted into price growth.

[Doranile432]

Stellar is a top altcoin already and having its half burned will surely make its value rise, this is one reason i like deflationary coins and tokens or burned implemented coins with real use cases, they have value easily

[boris1044]

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

Obviously lol it increased the value on the market 14%.. Can see another one to come with 20 bil or so left to buy up and with the increased value.. even more being minted. They've got 55billion to make before the caps hit so roll on and let's see what happens. Good buy for holding I think.

[josephdd1]

Note that this burn also increase the centralization of the coin. The Stellar Development Foundation now control more of the total supply as a percentage than before the burn.

If you think this is a good thing, you are an idiot.

[wxa7115]

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.

I'm thinking the same, it seems that many investors are seeing this is a positive movement from stellar but I do not share the same opinion, this seems to be a desperate move to try to bring attention to the coin and try to make its value to go up, and while it seems they had accomplished several of their goals with this move in the short term I'm not so sure we're going to see much of a change from stellar on the long term.

Even if stellar is a coin that is recognized in the community I do not see it surpassing any of the coins that are above it but I do see it going down and losing ground against many projects.

[coinfinger]

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

Burning of token has been a very good way of increasing the value of the token because the supply will become limited and this was the practice of binance too that made them to have a very increased token value form the $1 to the current value, if they had not been doing that, they probably would not have grown as much as they have grown now, which is also the same way that stellar will grow now that they have also planned to burn their own token, at least it will make the value keep appreciating no matter how little it is pending the time that the altcoins season starts when it will have a very good growth in value alongside other top solid coins that are in the market also, coupled with the fact that they have a real working product to also assist in pushing up.

[baeva2]

This is good news about burning such a large amount of Stellar Lumens coins. This event gives hope for a large growth of the coin, especially since the Stellar rate has already grown by 20%. The coin is credible and popular with many crypto enthusiasts. In my wallet, such a coin is also there. Now is the right time to replenish the reserves of this coin.

[watergold]

This is good news about burning such a large amount of Stellar Lumens coins. This event gives hope for a large growth of the coin, especially since the Stellar rate has already grown by 20%. The coin is credible and popular with many crypto enthusiasts. In my wallet, such a coin is also there. Now is the right time to replenish the reserves of this coin.

With this combustion the price of Stellar did not rise too sharply, but I think it will take time to go to the moon, Stellar has a lot of interest from investors in a good developer by burning it to make Stellar more stable.