The company Stellar, the Creator of the platform with its own electronic currency lumens (XLM), going to purchase a blockchain startup Chain. According to preliminary information, the purchase amount is $500 million and will be paid in tokens XLM.
Chain is engaged in developing enterprise solutions on the blockchain, including a cloud-based service Sequence. Earlier the startup has received investments totaling $43 million In the list of investors includes a variety of financial institutions and investment funds, including Bank holding company Capital One, the payment giant Visa and the venture Capital company Blockchain.
It is unclear what Stellar is planning to do with startup. According to journalists, the company is mainly interested in the human resource Chain, namely, its developers. Note that currently on the market there is great demand for talented professionals in this field, but a limited supply. To buy startups from recruters considerations, it is a kind of trend, especially among large companies, like Coinbase crypto currency exchange.
Some experts believe that the purchase of a startup company, it may adversely affect the value of the lumen. Since the entire amount — $500 million — will be transferred to the XLM and not in Fiat currency or the stock, the receiver may immediately sell everything. Currently, the market capitalization of crypto-currencies is $4.3 billion and the daily trading volume XLM is equal to $40 million This means that if investors rush Chain with the sale of even a small part of the digital currency, this can seriously reduce its price, at least in the short term.
We will remind, in may the rate of lumen showed growth on the background of positive news about the Stellar collaboration with IBM, reached peak values of $0,45. However, the overall downward trend in the market is not spared and XLM, and today the price of a token is around $0.22.
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