RATE Group | Blockchain Announces $125 Million ‘Airdrop’ of Stellar Cryptocurrency
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Blockchain Announces $125 Million ‘Airdrop’ of Stellar Cryptocurrency

06 Nov Blockchain Announces $125 Million ‘Airdrop’ of Stellar Cryptocurrency

Posted at 14:11h in Cryptocurrency News by

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The crypto wallet provider Blockchain on Tuesday said it will distribute cryptocurrency to millions of its users in what appears to be the largest such giveaway of its kind.

The giveaway—known in crypto parlance as an “airdrop”—will see recipients each get about $25 worth of the cryptocurrency commonly known as Stellar as part of an overall distribution worth $125 million.

Stellar is currently the sixth largest cryptocurrency with a market cap of around $5 billion.

“Accessible to anyone with a Blockchain Wallet, the first batch of recipients will receive their lumens, Stellar’s native digital currency this week – for free,” said the company in a statement.

Blockchain CEO Peter Smith, who will describe further details of the airdrop onstage today at the Web Summit event in Portugal, told Fortune the company is working with Stellar in part because he believes it represents a…

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