Blockchain.com Debuts XLM Services With $125-M Airdrop

Nov 07, 2018 at 20:58

Renowned crypto wallet provider Blockchain.com is now supporting services for Stellar (XLM) as it conducted an airdrop of $125 million worth of XLM to its user base.

In an official blog post, the company described the move as “the largest airdrop in the history of crypto and likely the largest consumer giveaway ever.”

Blockchain.com also expressed that it sees airdrops as an effective way to implement decentralization as well as in attracting adoption for new networks as consumers will be allowed to test and transact non-mainstream cryptocurrencies without the requirement of investing and mining first.
Likewise, the company defended its decision to support Stellar citing that the coin’s network innate ability for scalability and creation of custom tokens can represent both real-world and virtual goods and services.

Before Stellar was supported by the company, its crypto wallet services were only available for Bitcoin, Bitcoin Cash and Ethereum.

As of this writing, XLM is valued at $0.2594 a piece, up by 2.81 percent with a market cap of $4.9 billion.

Stellar has been very active in its transactions, the most recent of which is the acquisition of blockchain startup Chain for $500 million last June.

The company’s plans for the San Francisco-based Chain which develops enterprise blockchain solutions including Sequence, is still not clear aside from the possibility of utilizing the latter’s technology that allows organizations to transfer balances in token format on private ledgers.