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Analysis News

Stellar (XLM): Crypto via messenger? The right move!

The Stellar cryptocurrency XLM recently surprised the community, moving against the market.

When all the top coins were in the red zone, the XLM showed rise. Now while main coins are growing, XLM is correcting, but it is still +50% to its price 2 days ago.

What is the reason?

While Facebook (Libra) and TON (Gram) are just getting ready to launch their coins on the base of instant messenger users, Stellar has already done this. And hit the jackpot. It seems easy. Stellar is giving away $ 120 M to users of Keybase’s public key directory and group chat.

Keybase calls itself “a free, secure alternative to WhatsApp, Telegram and Slack”, and has 300 K users. So the take-off of the XLM is completely justified. Keybase supports publicly connecting Twitter, GitHub, Reddit, Hacker News and Mastodon identities to encryption keys, along with Bitcoin, Zcash, and Stellar wallet addresses. Stellar did not condition its airdrop with an infinite number of services from users. But not everyone can get the coins, only those who already have an authenticated account in Keybase. With new accs you may earn income too, but only if you have a profile on GitHub or HackerNews and connect it to a new account in Keybase. So many people now rushed to do accounts on GitHub and Keybase and kicked themselves for they didn’t do that sooner.

Let’s try to calm down a bit the community.

  • First, the Stellar Development Foundation (SDF) promised to give out $ 120 M (2 billion XLM), at 100 million XLM per month ($ 6 M), for 20 months. And if things work out well, that is, marketing will reach the goal, then after 3 months Stellar will shut this down.
  • Secondly, no more than 500 XLM will be handed over to one user, that is, no more than $ 30 at the time of the airdrop announcement. It is nice to get, of course, such a trifle. But this is still not some huge money. Although now payment has grown to $ 40.

The brilliant experiment of the Stellar Development Foundation proves that Facebook (Libra) and TON (Gram) are on the right track. It is easy to predict that these cryptocurrencies will rise immediately after launch. Although – what rise if talking about Libra stablecoin?

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