• Cryptocurrencies: 3202
  • Markets: 20781
  • Market Cap: $201723868996.62
  • 24h Vol: $57148851188.697

XLM Airdrop : What does that mean for the Price?

  • Stellar today announced a 500 Million XLM Airdrop to all those who have a Blockchain branded wallet
  • 2 things could happen, either all the holders of Blockchain Wallet dump their XLM holdings – causing the price to stumble
  • Or XLM pumps to $0.35-0.48

 

News came on the wire that Stellar will be releasing 500 Million XLM to Blockchain Wallet holders. Could this cause a Stellar price increase or an almighty dump?

The article released just moments ago can be viewed here: Link

We’re thrilled to announce SDF’s largest lumen distribution to date: an up-to-500 million XLM distribution to users of leading digital asset wallet provider, Blockchain. This airdrop will put the Stellar name and technology in front of Blockchain’s 30 million account holders, and will bring many new users into our ecosystem.

This could mean the following: 

  • The increase in 500 Million XLM could see the price dump to $0.22 – especially if all the holders dump the coin
  • This news that effectively means that there will be a million more individuals exposed to XLM – therefore causing them to research and understand the coins value – causing them to purchase more in XLM.
  • This could see huge increases in the coin and market sentiment, effectively meaning that both $0.35 and $0.48 is on the horizons.

Nouvive is currently watching two price levels $0.22 & $0.269. 

XLM surpassing $0.26, the Resistance level one and the a previous area that XLM could not surpass in early October could mean that $0.30 is immediately seen.

A dump despite RSI Stochastic being heavily oversold has been seen as HIGHLY UNLIKELY as a result of the increased accumulation according to the OBV, the recent breakout of the triangle peanut and the need to match the volume gap at $0.269.

Nouvive Research has seen that the current Airdrop news has not had an affect on Market sentiment or the price as of yet.

Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.

Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.

Show Your Views:
  •  (6)
  •  (1)
  •  (0)
  •  (0)
1521

ViFeed Indicators

Bitcoin (BTC)
$7455.98
56.00 RSI
0.62%
Hold
Ethereum (ETH)
$148.82
57.00 RSI
0.09%
Hold
XRP (XRP)
$0.22
44.00 RSI
0.76%
Buy
Tether (USDT)
$1
14.00 RSI
-0.15%
Buy
Bitcoin Cash (BCH)
$212.01
44.00 RSI
-0.19%
Buy
Litecoin (LTC)
$45.41
61.00 RSI
1.06%
Hold
EOS (EOS)
$2.72
60.00 RSI
1.03%
Hold
Binance Coin (BNB)
$15.6
33.00 RSI
-0.17%
Buy
Bitcoin SV (BSV)
$96.03
55.00 RSI
1.37%
Hold
Stellar (XLM)
$0.05
30.00 RSI
-1.24%
Buy
Do you withdraw your profit?