How Will The Stellar Airdrop On Coinbase Affect The Stellar (XLM) Price? Stellar (XLM)’s Boost?

Two days ago, the American cryptocurrency giant, Coinbase, announced that it would be giving away $100 million in XLM in an upcoming Stellar airdrop. Each person will have the chance to earn at least $50 in XLM. The goal of this stellar airdrop is to boost cryptocurrency education among its users and incentivize them for their loyalty. To participate in this stellar airdrop, simply having a Coinbase account isn’t sufficient.

The Stellar project has been doing well since its inception. The latest news may accelerate the boost that Coinbase recently announced that it is giving away $100 million in Stellar (XLM). This Stellar airdrop is going to impact the Stellar price prediction 2019 long-term. However, the Coinbase Stellar airdrop will do more than boost the price of XLM.

All the Stellar airdrops put in place are going to put a lot of XLM tokens in circulation. This Coinbase airdrop for Stellar is the largest airdrop the company has ever hosted and it is sponsored by the Stellar Development Foundation. While it is going to promote adoption for the Stellar token and Stellar network, it may put too much pressure on the price of XLM and may lead to a drop. This is because pumping more tokens into circulation reduces scarcity and may have a negative impact on price.

Stellar Airdrop And Its Effect to Price Of XLM

Stellar (XLM) Price Today – XLM / USD

According to a post on Decrypt, Stellar airdrops are great short-term but not so much long-term. More cryptocurrency enthusiasts may join the Stellar community due to the hype generated by the Stellar airdrop. DApps developers will also join the Stellar blockchain and start developing apps. However, the price of the native token will suffer the effect long-term. Stellar airdrops don’t guarantee that the network is here to stay or that the Stellar (XLM) token will spike in price long-term.

This Coinbase Stellar airdrop is coming just months after Blockchain.com started its own Stellar airdrop to give out $125 million in Stellar (XLM) tokens. Just like the Stellar airdrop being hosted by Coinbase, this airdrop was also geared towards adoption. Additionally, it was meant to serve as an incentive to users who participated in the Blockchain.com know-your-customer verification process. Meanwhile, the Stellar Development Foundation is making plans to give away $7.7 billion in another Stellar airdrop. For a certainty, the Coinbase Stellar airdrop along all the other Stellar airdrops will promote awareness of the Stellar network. The question is, how will it affect the Stellar XLM token?

Stellar Lumens News: Coinbase Will Pay You To Learn About Stellar (XLM)

According to te news of cryptobriefing;in an initiative to spread education on cryptocurrencies, Coinbase, the largest U.S. based crypto exchange, has added Stellar Lumens to its crypto tutoring platform Coinbase Earn. As the name suggests, Coinbase Earn isn’t just about learning the lingo: users can also earn their favorite currency through studying and passing quizzes on the platform.

To participate, a user must sign in to their Coinbase account or log in through Coinbase Earn. Then, after watching an instructional video and completing a quiz, the platform will award cryptocurrencies to the user’s Coinbase wallets.

Each of the five videos comes with a $2 bonus, paid in XLM. Each user also has the chance to invite four friends, and earn an extra $10 in XLM for each one who completes the course.

By distributing such a large fraction of their reserves, the Stellar Foundation is hoping that millions of people will now have a stake in the new asset. “For a platform like Stellar, that aspires to be a worldwide payment network, that’s an incredibly compelling prospect,” the Foundation writes in its blog.

“Our work with Earn will be ongoing, and we’ll post further updates as they happen.”

At the time of writing, Stellar (XLM) was trading in red against the USD at $0.106657. This means that it is down by 0.14% against the USD and down by 0.32% against BTC. Source: Smartereum

Find All XRP News, Lyft Stock Price, FB Stock, Stellar Coin, Ethereum Stock Price, Sia Coin News, Kraken, Ripple Coin News in TheOofy.com

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.