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Stellar News

Stellar Lumens Burn Results: XLM Price Soars

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Stellar Lumens burn results show that the price of the cryptocurrency soared after what seems to be a very considered decision. Let’s take a closer look at the XLM news today.

From the previous 105 billion, after the burn, the Stellar Development Foundation got a net result of 50 billion XLM tokens. all of the Stellar Lumens burned tokens were in the possession of the foundation with about 20 billion in circulation.

The Stellar Development Foundation appears to have made a very cautiously considered decision and as the SDF explained during a conference at the Meridian in Mexico City:

‘’…in time and after a lot of thought, we’ve come to realize they’re [the SDF’s allocations] too large,” regarding to the 17 billion in the operating fund of the foundation and the 68 billion that is set aside for gieveaway programs.“SDF can be leaner and do the work it was created to do using fewer lumens,” the foundation continued explaining the muter effect airdrops and giveaways have.

The SDF considered a number of options for what it saw with the excessive supply of XLM. By working backward from the number of the XLM tokens already in supply, actually made no sense. In the end, the foundation’s view was that they needed to act in a way taking into account the idea that ‘’we should only keep what we’re confident we can actually use. And use relatively soon, at that-in the next ten years.’’

The Stellar Lumens burn results show that the burn allocation was not homogenous since a large portion dedicated to giveaways saw the biggest change- form 43 to 6 billion. Other changes were not as dramatic with the operations and partnerships budgets being cut from 17 to 12 billion and form 25 to 12 billion respectively. After the Stellar Lumens burn, the foundation reassigned the remaining tokens into four categories of ecosystem support, user acquisition, use case investment, and direct development.

The use case investment has the second-largest allocation at 10 billion with about 80 percent of that set aside to acquire companies or fund enterprises in return for equity. All of the grants will be made from half of the ecosystem support allocation. The immediate reaction of the market to the token burn news was highly positive and XLM jumped more than 20 percent after only an hour of the announcement.

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Stellar News

Traders Turn Bullish On Stellar: XLM Price Analysis

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Traders turn bullish on Stellar after the altcoin increased by 20 percent before dumping a chunk of its gains. The previous week, Stellar (XLM) made headlines as the Stellar Development Foundation announced that it burned 55 billion XLM coins to reduce the circulating supply. The announcement of the burning of the 55 billion resulted in an impressive growth that made XLM climb over 30% in less than two days as we read in the XLM news today.The cryptocurrency gave up most of its gains. Clever investors used the surge as a once in a lifetime chance to lock in profits, resulting in the loss of bullish steam by Stellar Lumens. Then the crypto nosedived to $0.07. That was the price for which XLM has been traded before the announcement triggered the surge.There were those that waited for the pullback and were rewarded and those that bought due to FOMO (fear of missing out) and got burned. Gains of over 20% in four days were achieved by stellar as the traders turn bullish once again. Analysts say the crypto is bullish beside the recent slide. XLM is considered as one of the two most bullish large-cap coins by trader Beastlorion.The vice president of LeanCrypto.io, Nick Hellman, thinks that Stellar Lumens is bullish as well, sharing the view of Beastlorion. The analyst characterized, on Monday evening, the slide after the reducing as “healthy”:
 “I think the bull market for XLM has already begun. It formed a nice base during September and has been in an uptrend ever since. I looked at the chart and saw that Stellar Lumens built a strong base above $0.058 in September. This enabled the pair to paint a double bottom reversal pattern.”
In addition, Hellman said:
“There will be some short-term volatility due to some major fundamental news; including the elimination of network inflation and 55 billion coins being burned. But, once the dust settles it will still resolve to the upside.”
It’s possible that today’s drop in Stellar’s price might be an opportunity for some investors. If Nick Hellman is correct, we might see Stellar perform well in the next few weeks. Today’s fall of Stellar could be an opportunity for some investors. If the Vice president of LeanCrypto.io, Nick Hellman is right, we can see the good performance of Stellar in the next few weeks.
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Stellar News

Stellar Against Bitcoin: Possible 50% Surge After XLM Supply Burn

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Stellar against bitcoin posed a strong movement and a surge of more than 50 percent is likely since the altcoin has been at the top ten list of crypto assets by market cap for quite some time and is still hyped since the bear market first started in 2018 as we reported in the XLM News today.This could change very soon since the crypto asset may be poised for further gains and Stellar against bitcoin proves to be gaining even more with a change of 50 percent increase in the upcoming days. Stellar (XLM) has struggled during the entire bear market to maintain the positive momentum and it is one of the few assets that has not yet broken the downtrend resistance which goes back from the previous all-time high.At the start of the crypto hype bubble, stellar reached prices of more than $1 per token but it is now down by more than 90 percent and is trading at just under 8 cents per token. The things seem shaky for Stellar and the altcoin was trading at under 5 cents at the start of September but the Stellar Foundation burned half of the token supply thus causing a massive pump. The Stellar Foundation burned 55 million XLM tokens and resulted in a 25 percent surge in asset prices.The pump is not quite over yet since Stellar could be preparing for another leg up and one that could result in a 50 percent gain against Bitcoin in the upcoming days. According to the popular crypto analyst DonAlt, Stellar shows signs that the XLM/BTC trading pair is prepared for a strong move up and the resistance has been officially breached which could be targeting 1400 satoshis. XLM is now trading at about 900 Sats and a further move to the 1400 sats means there is a 55% increase from the current prices. However, the increase is mostly based on performance against Bitcoin on the XLM/BTC trading pair ad not the USD.On the XLM/USD charts, the crypto asset has another goal to break and get away from the downtrend resistance and could even continue to be locked in a downtrend against the dollar but sill outperforming bitcoin. This move suggests that Bitcoin could suffer a huge drop.
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Stellar News

Stellar Keeps Rising, XLM Is Posting 2.30% Gains This Morning

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The Stellar Lumens news today show that XLM is one of the altcoins to watch out for right now. There are obviously a lot of reasons for that - but the most important one is the coin burn which occurred recently. Stellar keeps rising and the XLM/USD pair is in a good position after ramping its price and market cap upwards.As we reported earlier this month, XLM has had a 25% surge in a couple of days. Its weekly gains have been simply amazing and the coin managed to increase its volume and market cap to $4.14 billion (at press time).Another interesting fact is that the XLM cryptocurrency is rising amidst a new decline on the market cap which brings Bitcoin (BTC) at a price of around $8,750 and again below the major psychological mark of $8,800. The ETH news, on the other hand, show that Ether is still below $200 and must breach this mark in order to see gains in the long run.The price of Stellar keeps rising, mostly because of the big XLM coin burn which analysts think that was the major milestone carried out by the Stellar Development Foundation. The crypto community has been skeptical over the control that project founders have over their token supplies.A few days ago, news showed that the SDF has destroyed 55 billion XLM tokens valued at around $3.8 billion at the time using the circulating token prices. This move was revealed at Stellar and its inaugural Meridian conference in Mexico. As expected, the token price started to pump.This is how XLM surged from $0.07 to top out at $0.09 a week ago, according to TradingView charts. The pair has now reached a six week high but is still down from its 2019 peak and has been smashed from the all time high. At press time, Stellar keeps rising and its price today is $0.077.The crypto price pump for XLM was "predictable" for many analysts - and is very likely to dump again soon. This is what many people said last week, but the momentum has extended and Stellar keeps rising.
"If $XLM can cut supply in half, they could also double it. Alts can be great trading opportunities. But it’s hard to justify holding many long-term with no ownership rights & at the mercy of a small centralized team," a popular analyst in the crypto space named Luke Martin recently said.
As it stands, the network and community around Stellar are robust enough to allow SDF to carry less weight.
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Stellar News

Will The Stellar XLM Burn Trigger A New Bull Cycle?

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On November 4, the Stellar news showed that XLM announced a completion of a 50% token burn of the total supply, leading to the destruction of 55 billion XLM tokens. The Stellar Development Foundation explained that this token burn will provoke efficiency within the Stellar ecosystem - but will the Stellar XLM price jump as a result of it?This is the biggest question that analysts have right now. We previously saw the price of XLM surging by 25% after the announcement triggered the market to become bullish on the altcoin. Knowing that a growing number of altcoins are starting to produce big returns, analysts are questioning themselves and asking if the XLM price could mimic these moves.So, will the Stellar XLM burn produce new gains?As it stands, Stellar (XLM) is trading at $0.08 with 1.10% gains in the past couple of hours. However, the weekly timeframe shows that a full retrace since December 2017s high of $1.10 to the May 2017 high at $0.05 is possible. Over the past few months, the current level held as support and the area appears to be a new springboard supporting XLM and its upward movement.The reality, however, is that the altcoin is still in a 23-month downturn which comes ever since its 2017 peak. On the question "will the Stellar XLM burn trigger new increases," we need to say that XLM first needs to break the 23-month downtrend to the upside and start creating higher highs and higher lows on higher time frames. This would signal that the situation is starting to change - even on the smaller timeframe.As XLM surged, the daily candle also posted an all-time high volume candle on exchanges. This is what caused the price of XLM to break through an important resistance at $0.07 and the price pushed further in the range high at $0.09.For a sustainable continuation on the upward trend, a retest should occur at the $0.073 area in order to confirm the support that Stellar (XLM) has in the current zone. For now, the range high for Stellar's Lumens (XLM) coin is at $0.13 - something that needs to be secured in order for a bullish run in the future.It is yet to be seen whether XLM has the potential to replicate the previous market conditions.
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