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As airdrop announcements continue to gain traction, there's fresh news from the Drift protocol, a decentralized exchange (DEX) operating on Solana (SOL). Accordingly, Drift Protocol has revealed its intention to introduce a DRIFT governance token and conduct an airdrop of the asset to its users within the next few weeks. It's been stated that 10 percent of DRIFT's total supply will be allocated to users in this airdrop, with 100 million DRIFT tokens set to be distributed. In an interview with The Block, Drift co-founder Cindy Leow mentioned that the token launch and airdrop are anticipated to occur in the upcoming weeks. "The specific dates for the token creation event and airdrop request will be announced later. 100 million tokens will be distributed to 180,000 Drift users based on their platform activities. All DRIFT tokens will be distributed over a five-year period, with the majority (over 50%) designated for the community. The breakdown of token allocation is 53% for the community and ecosystem, 25% reserved for protocol development, and 22% for strategic participants." Drift was introduced in 2021 as one of the pioneering DeFi projects on Solana.#Solana⁩ #Solana’ #Cryptocurrencies #Airdrop‬⁩s #Airdrop_Opportunity

As airdrop announcements continue to gain traction, there's fresh news from the Drift protocol, a decentralized exchange (DEX) operating on Solana (SOL).

Accordingly, Drift Protocol has revealed its intention to introduce a DRIFT governance token and conduct an airdrop of the asset to its users within the next few weeks.

It's been stated that 10 percent of DRIFT's total supply will be allocated to users in this airdrop, with 100 million DRIFT tokens set to be distributed.

In an interview with The Block, Drift co-founder Cindy Leow mentioned that the token launch and airdrop are anticipated to occur in the upcoming weeks.

"The specific dates for the token creation event and airdrop request will be announced later. 100 million tokens will be distributed to 180,000 Drift users based on their platform activities. All DRIFT tokens will be distributed over a five-year period, with the majority (over 50%) designated for the community. The breakdown of token allocation is 53% for the community and ecosystem, 25% reserved for protocol development, and 22% for strategic participants."

Drift was introduced in 2021 as one of the pioneering DeFi projects on Solana.#Solana⁩ #Solana’ #Cryptocurrencies #Airdrop‬⁩s #Airdrop_Opportunity

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While Bitcoin's steady decline, which started in April, continues into May, investors are eagerly awaiting the start of the real bull rally. At this point, popular analyst Ali Martinez mentioned to investors that the MVRV rate for Bitcoin indicates a potential bottom. Martinez explained that whenever the MVRV rate drops below 9%, it is typically followed by significant price increases, pointing out that the current BTC MVRV rate is 11.6%. According to him, if past patterns hold, the MVRV ratio is signaling a bottom and a potential rise in Bitcoin. Looking at historical data, he noted that during the last three instances when the MVRV rate fell below 9%, the price of Bitcoin increased by 64%, 63%, and 99% respectively. Martinez said: "The last three times in the past two years when Bitcoin's 30-day MVRV fell below 9%, BTC's price increased by 64%, 63%, and 99% respectively. The current 30-day MVRV for Bitcoin is at 11.6%. This might indicate that it's a good time to buy the dip!" Analyzing the historical trends of Dogecoin, the analyst noted that the ongoing correction in DOGE's price is consistent with its typical pattern before significant bull runs. Looking at its behavior in 2017 and 2021, he explained that DOGE usually breaks out of a descending triangle and then undergoes a significant pullback before experiencing a bull rally. He mentioned that DOGE recently broke out of a descending triangle and experienced a 47% drop, suggesting that this could precede a significant bull run. "In 2017, DOGE broke out of a descending triangle, then retreated 40% before a 982% bull run! In 2021, DOGE broke out of the descending triangle again, then pulled back 56% before surging 12,197%! Now, in 2024, DOGE has broken out of the descending triangle once again! It's currently undergoing a 47% correction, which is very similar to previous cycles, and this could be setting the stage for the next big DOGE bull run!" #BTC #bitcoinhalving #bitcoin #Dogecoin‬⁩ #Cryptocurrencies
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