Stellar burned half of it's supply and Price Spikes

[S.coastapps]

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 the stellar Foundation, Denelle Dixon.

Source: TheCoinRepublic

[Shahinaz]

more than 50 billion I think it's still quite fat not yet slim, if under 50 billion I believe the price of XLM will be better than now which is only how many dollars and not up to 1 $ for 1 XLM

[LogiC]

more than 50 billion I think it's still quite fat not yet slim, if under 50 billion I believe the price of XLM will be better than now which is only how many dollars and not up to 1 $ for 1 XLM

Really still slim? I think they are also bit pretty straightforward when they did the burning. In my opinion, some projects burning supply to limit its numbers as coincide with the market needs as well and XLM didnt even hesitate to burn billions of dollar at their disposal for this. So Im sure the price would rally on its supposedly price since marketcap will increase as supply is lowered that much.

[damsix]

I am very enthusiastic to see this because this will result in profits for Hodler Stellar and then if for the day traders it can also earn 40% profit in a day.
Unfortunately, I don't trade with Stellar because I prefer trading between Bitcoin and Fiat because it's more safety for my benefit.

[Delgboke]

This is a huge burn any way but if this recent development could boost the price of stellar it will be an opportunity for stellar to out grow some Altcoins in the cryptocurrency market, that's a huge profit for those that holding stellar if the should increase more than it's current value people will gain so much profit.

[Zemytha]

A good move for Stellar. Burning supply has many advantages, one of which makes stellar prices go up. this is good news for traders who are always looking for information about cryptocurrency.

[shadowdio]

I see, that's the reason why stellar went pumped because they burned 55 billion XLM and worth of 4.7 billion dollar what the?. I guess it is a good move to the team so that the price of stellar will slowly increase. Lucky those XLM holders they really earned profit.

[masterrex]

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 the stellar Foundation, Denelle Dixon.

Source: TheCoinRepublic

That was good developmental decision it will benefit the XLM price and value in long run, I believe that XLM will be more attractive specially these time and as we see the price today it was climb from $0.06 to $0.082 now  I cant wait to hold more XLM in the process.

[pelana vreo]

Stellar has a large amount of supply, with this plan the price will not increase quickly, every project developer has a plan to be able to increase the price of the coins they have, many new projects use the Stellar network and I think, one day more and more new projects are being on the stellar network will be able to increase the price of these coins, with increasing demand for coins to be able to buy new tokens on the stellar network

[Octoalts]

XLM Stellar Lumens is Cryptocurrency which has the 10th largest supply based on Crypto market capital.  And burning 55 billion coin is almost 50% of the total supply from XLM. This will certainly affect the price of XLM on the Market, and it is proven that after burning the coin the price has increased by approximately 20%.  I really did not think XLM would do this, burning coin as much as 50% of the total supply, I have never heard before from other coin.