Blockchain Wallet Adds Stellar (XLM), Announces $125 Million Airdrop


Blockchain, a leading European cryptocurrency wallet provider, has added support for Stellar (XLM) to its wallet that has been downloaded more than 30 million times.

According to the announcement, XLM is the 4th digital currency available on the Blockchain wallet, joining Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH). Additionally, Blockchain has partnered with the Stellar Development Foundation to give free XLM to Blockchain wallet users

“Why are we doing this? We’ve already¬†shared our thoughts¬†on how Blockchain Airdrops are a great way for crypto creators to drive decentralization and adoption for new networks. We think they’re great for crypto users too. They let you test, trade, and transact with the next generation of crypto assets without having to buy them or mine them,” said Blockchain CEO and co-founder, Peter Smith, in the announcement,

However, this form of digital asset distribution may soon fall under regulatory scrutiny as the recent Tomahawkcoins (TOM) airdrop bounty program failed the Howey Test, a test used by the Supreme Court to determine whether an investment contract should be considered a security.

XLM is currently trading for $0.2575 and has a $4.87 billion market cap, making it the 6th largest coin in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

More: Introducing: Stellar, now in the Wallet, and $125M of free crypto in your pockets

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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