Stellar Lumen foundation (XLM) has burnt $4.4 billion worth of XLM, the foundation announced in a blog post that it has burned over 55 billion Stellar Lumens (XLM) tokens.
In the blog post by the Stellar Development Foundation (SDF) , the foundation stated that there are now only 50 billion XLM tokens in existence, compared to 105 billion a day before.
Following SDF’s announcement, Stellar (XLM)’s price spiked 20 percent in less than 30 minutes.
The Stellar Development Foundation (SDF) is a non-profit organization founded in 2014 to support the development and growth of the open-source Stellar network. SDF and Stellar seek to unlock the world’s economic potential by making money more fluid, markets more open, and people more empowered. The Foundation maintains Stellar’s codebase, supports the technical and business communities around Stellar, and is a speaking partner to regulators and institutions.
XLM/USD Price Chart for the last three months
*Chart’s data provided by cryptocompare.com
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