In November, the Stellar Foundation has deciced to burn 55 billions of their token. It represente more than 50% of the total token offer.
The price of the Lumens has started to claim over 20% since this moment.
“We have therefore decided to reduce our lumen allocations and reallocate what remains to what we think is most needed at Stellar,” the foundation wrote.
While the SDF owned more than 85 billion lumens out of a total of 105 billion tokens, it has just burned 55 billion, dropping the total supply to 50 billion lumens and raising the price of the crypto-currency up.
In 24 hours, the price of the XLM increased by more than 20% and exceeded $0.08.
More specifically, the SDF destroyed 5 billion lumens of its operating fund (17 billion lumens) and 50 billion of the 68 billion lumens that were reserved for its promotional programs.
In September, the SDF teamed up with Keybase Messaging and File Management to release up to XLM 2 billion. More recently, she joined the Blockchain Education Alliance, an initiative launched by the Mousebelt incubator.