Crypto Community Skeptical About XLM Coin Burn

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There has been a mixed reaction to the big XLM coin burn that has just been carried out by the Stellar Development Foundation. The crypto community has been largely skeptical over the control that project founders still have over their token supplies. Stellar Burns 55 Billion, XLM Surges A few hours ago it was announced that the SDF has destroyed 55 billion XLM tokens valued at around $3.8 billion at the time using circulating token prices. The move was revealed at Stellar’s inaugural Meridian conference in Mexico and as expected the token price started to pump. XLM surged from $0.07 to top out at $0.09 according to Tradingview.com. It has now reached a six week high but is still down over 80% from its 2019 peak and has been smashed from its all-time high. XLM prices 1-hour chart – Tradingview.com The crypto price pump was rather predictable and is very…

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