Stellar lowers base reserve for creating accounts to 0.5 XLM

Stellar published updates on GitHub about lowering the base reserve to 0.5 XLM what made the cost of creating accounts and orders inexpensive and led to XLM price rise
12 January   465

The Stellar network stated that it requires small fees on transactions and minimum balances on accounts in order to prevent people from overwhelming the network and to aid in prioritization.

As it was stated on Stellar GitHub, all Stellar accounts should have a minimum balance of lumens and any transaction that would reduce balance to less than the minimum will be rejected with an INSUFFICIENT_BALANCE error.

The minimum balance was calculated using the base reserve, and from january 12 it was lowered to 0.5 XLM. The minimum balance for a basic account is $$2 * [base reserve]$$, and every additional entry costs the base reserve.

Entries include:

  • Trustlines
  • Offers
  • Signers
  • Data entries

For example, an account with 1 trustline and 2 offers would have a minimum balance of $$(2 + 3) * [base reserve] = 2.5 XLM$$.

Stellar GitHub

At the moment of press, these are main market parameters of Stellar:

  • Average price: $0,69
  • Marketcap: $12 355 845 024
  • 24h volume: $478 618 000

John McAfee promotion does not help Stellar to surge

After changing the rubrics "Coin of the day" to "Coin of the Week" John McAfee tweeted about Stellar which caused a 4% rise of the coin price within 30 minutes, but the currency started falling down again
15 January   2322

John McAfee, a British-American computer programmer and businessman who founded the software company McAfee Associates, is making cryptocurrencies rise again. 

Some time ago John McAfee in his Twitter opened the column “Coin of the Day”, in which every day recommended a new crypto currency. Later McAfee decided to change "Coin of the day" to "Coin of the week", which he is posting every Monday morning.