Stellar 2 billion XLM massive airdrop could steer vast gains

Keybase users to get an equal share of the 2 billion XLM over the next 20 months.
The airdrop will kick off on October 15, 2019.
Stellar price is limited under both the 100 SMA and the 200 SMA.

John Isige FXStreet

The Stellar Development Foundation according to Keybase’s blog, is giving away 100 million Lumens every month for the next 20 months. This translates to 2 billion Lumens worth roughly $119 million. Stellar is handling the airdrop in partnership with Keybase, a messaging platform like Slack, WhatsApp and Telegram.

The airdrop will kick off on October 15, 2019 and will see all the users receive an equal share of the funds. The users joining Keybase now are eligible to receive the funds for all the 20 months. The requirements for the airdrop is a Keybase account which should be connected to either GitHub or HackerNews

At the time of writing, Stellar is trading at $0.0606 following a minor recovery from $0.0575 (September low). The price is below the simple moving averages in the 4-hour timeframe. The 100 SMA will limit gains at $0.0635 while the 200 SMA at $0.0675. The first support is seen at $0.0600 but the previous low will offer more support.

XLM/USD 4-hour chart

Author

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

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