50 Million Stellar XLM Tokens were Transferred to Kraken
The Stellar Development Foundation transferred 50 million Stellar XLM tokens to the cryptocurrency exchange Kraken which might cause the Stellar XLM price collapse.
As reported by the Twitter bot Whale Alert, live tracker of large crypto transactions from and to exchanges, 50,000,000 XLM tokens worth 3,622,791 USD were transferred from SDF Operations to the exchange Kraken that is based in the United States.
— Whale Alert (@whale_alert) November 17, 2019
As a result of this transfer XLM has already lost 5% in just a few hours yesterday. At the moment (19, Nov.), Stellar is trading at $0.066996 and the market cap is around 1,344 in USD (coinmarketcap).
It’s worth to note that in the beginning of the current month, the Stellar Foundation burned around 55 billion XLM tokens which is more than the half of its total supply (105 billion). At the moment, the burned XLM tokens were worth over 4 billion in USD. As a result of this move, the price of XLM increased for 16% within a day.
To learn more info & find out details about Stellar together with its price, take a look the XLM Price updates as well as Stellar Lumen (XLM) Price Predictions to be in charge of the potential price and the entire crypto market movements.