Stellar burned half of it's supply and Price Spikes - page 2.

boris1044

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Quote from: Harrydose on November 05, 2019, 07:20:36 AM

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.

Doranile432

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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

meliodas

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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.

Drai

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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.

cichaescut

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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.

matchi2011

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Quote from: Pecunia non olet on November 06, 2019, 02:54:32 AM

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.

ragavancoin

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Quote from: Harrydose on November 05, 2019, 07:20:36 AM

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.

Pecunia non olet

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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.

X-ray

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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?

freedomgo

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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.

huu78

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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.

Jating

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Quote from: poornamelessme on November 05, 2019, 01:54:14 PM

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.

miningguru

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Quote from: mu_enrico on November 06, 2019, 12:17:18 AM

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.

jr.coastapps

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Quote from: mu_enrico on November 06, 2019, 12:17:18 AM

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

mu_enrico

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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!

Harrydose

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Quote from: Onuohakk on November 05, 2019, 07:08:55 PM

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.

Onuohakk

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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'

dark08

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Quote from: Harrydose on November 05, 2019, 07:20:36 AM

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.

Drai

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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.

kooboat

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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.

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