Recently, a series of projects have been distributing airdrops, attracting a lot of attention from investors and users. Today, let's review some of the recent popular airdrop projects.
On November 29, the decentralized derivatives exchange Hyperliquid conducted a $HYPE token airdrop. According to the Hype dashboard created by ASXN, each user could average 2881 $HYPE tokens, calculated at a price of $12 per token, the average value of the airdrop exceeded $34,000. The scale and value of this airdrop far exceeded expectations, surprising many participants. After the airdrop, Hyperliquid not only did not see a sharp drop in token prices, but its TVL rose straight up to 2.02 billion.
(https://data.asxn.xyz/dashboard/hype; Airdrop Data Dashboard)
(https://defillama.com/chain/Hyperliquid?groupBy=monthly TVL Data)
Following Hyperliquid's opening of airdrops worth about $620 million, on December 9, the modular Layer1 Movement also opened airdrop claims. Based on the total amount of this round of airdrops, the scale exceeded $1.45 billion. According to PANews' analysis of airdrop data, there were 429 addresses with airdrop amounts exceeding 10,000 tokens. Six addresses received over 100,000 tokens. Most users received between 500 and 1000 tokens, accounting for about 38.24%. Overall, addresses receiving between 100 and 2000 tokens made up 80%. After Movement's TGE, there was a sell-off by airdrop users, leading to insufficient on-chain liquidity. Thus, there is a significant difference between on-chain and centralized trading. On December 10 at 10 AM, the on-chain price of MOVE was $1.1750, while the price on Binance at the same time was only $0.7468, with a price difference of 1.57 times. This also provided opportunities for many arbitrage players.
The next one is the ME airdrop. Magic Eden is a decentralized NFT marketplace that supports multiple chains and is favored by users for its fast transaction speed, low transaction fees, and diverse NFT projects. Claiming ME's airdrop requires downloading the Magic Eden exclusive wallet and selecting to import the original wallet private key or create a new wallet linked to the original wallet, which undoubtedly adds some difficulty and risk to claiming the airdrop. However, ME has already claimed over $91.8 million, with more than 125,000 claimants. So the average amount distributed per account is about $740. The price of ME soared to a high of $13.1181 after it went live yesterday. With the airdrop claims and subsequent sell-offs, the price has returned to $5.249.
ME airdrop data analysis: (https://flipsidecrypto.xyz/Ario/me-airdrop-claim-analysis-xXuV-F)
What other projects are going to TGE soon? Here are 12 projects that will soon have their TGE.
Among them, DeFi and L1 projects are the main force for token issuance, with nearly half of the projects coming from these two tracks.
Considering the recent airdrop returns, especially for asset staking DeFi projects, it's still worth chasing the last train.
For example, if you plan to take Bitcoin to $150,000, it may take some time, just in time to stake on SOLV. This project can be compared to ETHENA in the Bitcoin ecosystem, another crazy flywheel.
Why has there been such a change?
First, the airdrop projects in the first half of the year have really let us down! Projects with high FDV and low circulation saw the project parties crazily sell off after launch, with plenty of peak garbage coins. I won't name names here. As a result, everyone abandoned VC and turned to more equitable meme coins, etc. If VC projects continue to be so shameless, no one will play with them.
Second, liquidity has eased, and the market has more support power, so project parties dare to release more circulation at TGE and strengthen community and ecological construction. For example, Bluefin allocated 52% of tokens for ecological growth. Even with the lucrative airdrop, many retail investors see that the project parties are doing a good job and are in a bull market, resulting in less motivation to sell off. High ratio airdrops (like Hyperliquid's 31%) attract users, and many people know that Hyper has no airdrop opportunities left but still flock to use this protocol as if they are expecting something.
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