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At the beginning of November, Blockchain.com, a wallet supplier, announced a Stellar Lumens token worth 125 million US dollars. An airdrop is essentially a donation of free coins to cryptocurrency users. Blockchain.com has started distributing cryptographic currency to millions of users. Each of these users receives a Stellar gift worth approximately $ 25 US. The whole process will take several months and the amount of Stellar distributed to individual users will vary depending on the region. The Airdrop Blockchain is considered the largest of its kind ever. The occasion was the introduction of Stellar in the Blockchain Wallet.
Effects of the Airdrop on the price of Stellar
The idea for the Airdrop probably was not just to celebrate the introduction of the Stellar Lumens currency to Blockchain, but also to increase the interest of users in Stellar Lumens (XLM) currency in general and to encourage them to continue buying Stellar. In the end, one reason was probably the increase in the Stellar exchange rate. But this success? A look at the performance of the share price provides clarifications:
On November 6, the day of the announcement of Airdrop on the Blockchain blog, the Stellar price was around 0.2511 USD. At that time, the price was already in an upward curve. Perhaps triggered by the news, it jumped briefly the day after the announcement to 0.2643 USD and then fell slightly the next day to about 0.22 euros (0.2481 USD).
Fluctuations, a maximum and a decline
With slight fluctuations, however, the price continued to rise and reached a maximum of USD 0.2798 on 12 November 2018. Although the encrypted currency was distributed on the first day of the announcement, the price fell thereafter and has continued to decline since then with a few exceptions. The 25 reached a minimum of 0.1333 USD, then recovered briefly at 0.1589 USD and 27 returned to around 0.12 euros (0.1356 USD). According to CoinGecko, the XLM price has decreased by 38.6% in the last 30 days (as of 27.11.2018). Over the course of a year, however, the price has risen by 136.2%, which in turn offers reason for hope.
"Stellar has a superior blockchain," says Blockchain CEO
The Stellar Lumens currency is currently the sixth largest encrypted currency in the world by market capitalization. Its market capitalization is just under 3 trillion dollars. One of the reasons for the collaboration between Blockchain and Stellar is the certainty that it is a superior Blockchain capable of handling a very large number of transactions, said Peter Smith, CEO of Blockchain, in Fortune. Stellar was developed by Jed McCaleb, who was also responsible for the development of Ripple. The Airdrop crosses the Wallet Blockchain, but is paid by Stellar alone. Stellar wants to use the portfolios of around 30 million Blockchain users for this.
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