Charles Hoskinson opines that Burns Never Work Mentions to StellarNovember 28, 2019
Stellar has formed a bullish trend line after rising above $0.061. Stellar is currently consolidating. If the token should break the bearish impact, it should trade near $0.059. The price surge that happened on November 22 has corrected strongly. Technical indicators have not shown any positive signs as of yet.
The 5-day price movement of XLM is volatile, and it traced two major plunges while escalating above $0.061. The coin recently formed a bullish candle. The price of the Bitcoin breached the critical support level of $7,000, and we are yet to see how this price change will influence the Altcoins.
Due to the bearish price trend, the price of the XLM declined to $0.053. As the price moved rapidly, the price went up to $0.061, and it increased by 14.78%. The price faced rejection at that point. There was a major price fall at $0.053%, and the coin managed to recover from its lowest price point as it touched $0.058.
The Bollinger bands are opening wide and are showing a volatile price movement, and the XLM coin has formed a bullish candle recently. Stellar Lumens is seen to have resistance at levels $0.0595, $0.0606, and $0.0621, and support is seen at $0.0570, $0.0554, and $0.0544.
Updates have been made to the Stellar Protocol (CAPs) and Ecosystem (SEPs). These two updates are formal ways of documenting the standards that are proposed to improve the different aspects of the network. These functions are a lot similar to EIPs and BIPs from Ethereum and the Bitcoin communities.
There is a list of job openings available in Stellar for those who are looking for full-time positions in NewYork and SanFrancisco. The positions called for include, “SDF Frontend Engineer (New York) SDF Senior Platform Engineer (San Francisco), SDF Senior Core Engineer (San Francisco), SDF Senior Platform Engineer (New York), SDF Software Integration Engineer (San Francisco), SDF Spanish Language Content Writer & Translator (New York).”
The hot thing doing the rounds about Stellar is about getting the $500 in Free Stellar Lumens on Keybase. Charles Hoskinson, among several other things, has been arguing that the Stellar Burn was pointless. He stated, “Burns never work. They are market manipulation on the short term for speculators at the expense of the future of the protocol. In our case, it would require us to steal ADA from people because there’s no giant pile of ADA that’s unallocated.”