The cryptocurrency market continues to evolve at a rapid pace, with significant developments shaping investor sentiment and token valuations. This week (October 29 – November 5), several top-100 digital assets saw dramatic price movements, led by Noah Coin’s explosive 363% surge. However, one of the most impactful events wasn’t just a price spike—it was a fundamental shift in supply dynamics.
Stellar (XLM) made headlines not only for ranking sixth on the weekly gainers list with a solid 26.46% increase, but also for a groundbreaking move that could redefine its long-term value proposition: the permanent destruction of 55 billion XLM tokens, more than half of its original total supply.
The Stellar Supply Shock: What Happened?
In a major announcement during a recent conference, Denelle Dixon, CEO of the Stellar Development Foundation (SDF), revealed that the foundation has officially burned 55 billion XLM tokens. This monumental act reduces Stellar’s total supply from 105 billion to just under 50 billion, marking one of the largest token burns in blockchain history.
The tokens destroyed came from two primary sources:
- 50 billion XLM from the unused portion of the airdrop program
- 5 billion XLM from the operational reserve fund
Despite this aggressive reduction, the SDF retains strategic reserves:
- 12 billion XLM for ongoing operations
- 6 billion XLM allocated for future airdrops
- 12 billion XLM dedicated to partnerships and ecosystem growth
👉 Discover how major token burns can impact price and investor confidence.
This recalibration reflects a new strategic direction focused on developer adoption, ecosystem expansion, and long-term sustainability rather than broad distribution. By eliminating excess supply, the foundation aims to strengthen market confidence and align incentives across the network.
Why Token Burns Matter in Crypto
Token burns are a powerful economic tool in blockchain ecosystems. They work similarly to stock buybacks in traditional finance—reducing circulating supply can increase scarcity, potentially driving up value if demand remains constant or grows.
For Stellar (XLM), this burn signals maturity and commitment. It shows the foundation is no longer hoarding vast reserves but actively shaping a leaner, more efficient economy. Investors often view such moves positively, especially when paired with strong fundamentals and active development.
Weekly Market Movers: Who’s Up, Who’s Down?
While XLM's burn made headlines, price action across the top 100 cryptocurrencies revealed broader market trends.
Top 10 Gainers (Oct 29 – Nov 5)
- Noah Coin (NOAH) – +363.23%
- ILCoin (ILC) – +99.70%
- Chiliz (CHZ) – +83.04%
- Decred (DCR) – +34.54%
- Seele (SEELE) – +30.32%
- Stellar (XLM) – +26.46%
- Molecular Future (MOF) – +24.00%
- IOST (IOST) – +23.81%
- Augur (REP) – +20.99%
- Cosmos (ATOM) – +19.22%
Notably, both IOST and ATOM are gaining momentum due to fresh strategic developments—more on that below.
Top 10 Losers (Oct 29 – Nov 5)
- Swipe (SXP) – -28.88%
- EDUCare (EKT) – -11.88%
- Nash Exchange (NEX) – -10.72%
- ABBC Coin (ABBC) – -7.69%
- THETA (THETA) – -7.28%
- OmiseGO (OMG) – -5.93%
- aelf (ELF) – -5.28%
- Bitcoin SV (BSV) – -4.84%
- IOTA (MIOTA) – -4.54%
- Ravencoin (RVN) – -4.38%
Markets often react sharply to shifts in narrative, liquidity, or project fundamentals. The sharp drop in tokens like SXP and EKT may reflect profit-taking or lack of recent catalysts, while others like OMG continue to face challenges in regaining traction despite their early promise.
IOST Partners with Troy Network to Boost DeFi Innovation
In another development signaling growing institutional interest, IOST announced a strategic partnership with Troy Network, a crypto brokerage specializing in trading and asset management, on November 5.
Under this collaboration, IOST will join Troy’s Global Ecosystem Consortium as its fourth member, focusing on:
- Joint research and technical development
- Driving large-scale blockchain adoption
- Advancing DeFi infrastructure
A key highlight is the joint effort to develop Layer-2 scaling solutions leveraging IOST’s unique Proof-of-Believability (PoB) consensus mechanism—a high-performance alternative to traditional PoS and PoW models that enables faster transaction throughput and lower fees.
This partnership could significantly boost IOST’s visibility among institutional players and developers building scalable dApps.
👉 Explore how Layer-2 innovations are transforming DeFi performance and accessibility.
Binance.US Expands Listings: Adds NEO and ATOM
U.S.-based traders received some good news as Binance.US added support for two major blockchain platforms: NEO and Cosmos (ATOM).
New trading pairs went live on November 1, 2019, including:
- NEO/USD
- NEO/USDT
- ATOM/USD
- ATOM/USDT
This addition continues Binance.US’s aggressive expansion into the American market, bringing more diverse assets to retail investors who face limited access compared to global users.
Recent Additions to Binance.US (October 2019)
- Oct 29: Waves (WAVES)
- Oct 24: Dogecoin (DOGE), BUSD, IOTA (MIOTA)
- Oct 22: Algorand (ALGO), Zcash (ZEC)
- Oct 17: Dash (DASH)
- Oct 10: Chainlink (LINK), Ravencoin (RVN)
With ATOM now listed, Cosmos gains exposure to a growing U.S. audience interested in interoperability and cross-chain innovation—key themes in next-generation blockchain development.
Frequently Asked Questions (FAQ)
Why did Stellar burn so many XLM tokens?
The Stellar Development Foundation burned 55 billion XLM to reduce excess supply, enhance scarcity, and refocus its mission on sustainable ecosystem growth rather than mass distribution.
Does burning tokens always increase price?
Not necessarily. While burns can create scarcity, price impact depends on market demand, overall sentiment, and real-world utility. A burn alone won’t sustain price without strong fundamentals.
What is IOST’s PoB consensus mechanism?
Proof-of-Believability (PoB) is a high-efficiency consensus model that selects validators based on token balance and behavior history, enabling faster transactions and lower energy use compared to PoW.
Is Binance.US the same as Binance?
No. Binance.US is a separate entity tailored for U.S. compliance regulations and serves only American customers, offering a more limited selection of cryptocurrencies.
How does reducing supply affect inflation in crypto?
Reducing token supply helps combat inflationary pressures by limiting new token issuance and increasing scarcity—similar to monetary tightening in traditional economies.
Can XLM reach new highs after the burn?
While past performance doesn’t guarantee future results, the burn improves XLM’s economic model. Combined with growing use cases in cross-border payments, it may support stronger long-term valuation.
👉 Stay ahead of market trends with real-time data and insights from a trusted global exchange.
Final Thoughts: Scarcity Meets Strategy
This week underscored a critical shift in the crypto space—from speculative price moves to meaningful structural changes. The Stellar burn wasn’t just symbolic; it was a strategic recalibration that could influence how other projects manage their tokenomics.
Meanwhile, partnerships like IOST-Troy and exchange listings like Binance.US adding ATOM reflect growing maturity in adoption channels.
As investors navigate this evolving landscape, focusing on projects with clear roadmaps, reduced inflation risks, and real-world utility—like XLM post-burn—may offer better long-term potential.
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