Stellar (XLM), which falls just short of the top 10 cryptocurrencies by market cap, is having itself a bit of a run.
The cryptocurrency is currently trading at just shy of $0.05 per tokentoken, up 9.5% from where it stood just yesterday, Incidentally, its close cousin, Ripple’s XRP, is up nearly 14 percent and climbing.
It’s solid news for Stellar hodlershodlers, which had what could be described as a “mixed” final quarter of 2019, at best. The price of XLM incurred a jump in early November after the Stellar Foundation undertook a controversial token burn that saw more than 50 billion XLM tokens go up in flames.
About half of the entire XLM supply was destroyed, followed by a 25 percent spike in the coin’s price.
Keybase ends Stellar airdrop thanks to hordes of ‘crappy fake accounts’
Spammers have forced encrypted messaging and chat service Keybase to end its Stellar Lumens (XLM) airdrop several months early. The event was first announced last September, when the Stellar Foundation said it planned to unload roughly 2 billion XLM tokens on users of the messaging service over the next 20 months. Based on the price of XLM at the time, that would have amounted to upwards of $120 million in free crypto. But that didn’t happen. Bad actors have evidently spoiled the fun, and a swar...
But those good times did not last for long. Stellar dropped roughly 6 percent 24 hours later, and further decreases in price over the next week brought XLM back down to Earth.
By late November, Stellar had lost another five percent—along with currencies like Tron (TRX) and Litecoin (LTC)—to trade at just over $0.06, the lowest price XLM had hit in nearly a month. Stellar suffered yet another blow in December when encrypted messaging platform Keybase announced it was ending its Stellar airdrop due to excessive spam accounts.
So while the price of XLM has yet to even climb back to reach those December lows, Stellar holders will likely take any good news they can get right now.
