Now, bitcoin rival Stellar, the tenth largest cryptocurrency by market capitalization, has suddenly soared after the Stellar Development Foundation "burned" over half the digital token's supply–worth a staggering $4.7 billion. The bitcoin halving next year will see the bitcoin supply to miners cut by half, potentially ... [+] boosting the bitcoin price. We started by asking, ‘what do we need,'" Stellar Development Foundation chief executive Denelle Dixon reportedly told the Stellar Meridian conference yesterday. The stellar price was down almost half since the beginning of the year before the news, while ... [+] bitcoin has climbed throughout much of 2019. "We [have] burned 5 billion lumens from our operating fund," the Stellar Foundation wrote in a blog post.

Source: Forbes November 05, 2019 05:26 UTC