XAI, the native cryptocurrency of the Arbitrum-based gaming network Xai, has seen a substantial 25% price surge, reaching $1.12, after a generous 125 million XAI token airdrop.
The airdrop aimed to reward early community engagement and contributors, propelling XAI’s value from an initial $0.77 to its current price.
The XAI Token Soars: Behind the Rally
The XAI token, associated with the Arbitrum-based gaming-focused “Layer 3” network Xai blockchain, has recently witnessed an impressive rally. At the time of writing, XAI is trading at $1.12, marking a significant 24.69% increase, with a market capitalization of $311 million. Notably, during this rally, XAI experienced a remarkable 40% surge earlier in the day.
The Xai Network’s Milestone Airdrop
The catalyst for this surge in XAI’s value can be traced back to a notable milestone for the Xai gaming network on Ethereum scaler Arbitrum. In a strategic move, the platform initiated its inaugural airdrop last week, allocating an astonishing 125 million XAI tokens to early users and supporters. This initiative was designed to recognize and incentivize early community engagement and contributions.
XAI’s Resilience in a Volatile Market
Upon its market debut, the XAI token had an initial valuation of approximately $0.77. However, as is often the case with newly launched tokens, it experienced initial volatility, briefly dipping to $0.45. Despite this initial turbulence, the XAI token displayed resilience and embarked on a remarkable ascent from around $0.60. As of the latest reports, the token’s value has surged by an impressive 87% in just a day and a half.
Binance Listing Fuels the Rally
Furthermore, the listing of the XAI token on Binance, one of the world’s leading cryptocurrency exchanges, contributed to the price rally. This development attracted additional attention and investment, further boosting XAI’s value.
Rewarding Early Contributors and Network Support
The Xai gaming network’s airdrop strategy was strategic in rewarding early contributors and strengthening network support. The airdrop distributed tokens to holders of early Xai NFT collectibles and users who acquired Sentry Keys for operating validator nodes, essential for processing network transactions.
Windfall for Node Operators and NFT Holders
Operators of Sentry nodes witnessed a substantial windfall, with the ability to claim 1,658 XAI for each owned node, currently valued at approximately $1,860. Simultaneously, owners of the Xai Vanguard NFTs could claim 1,307 XAI per NFT, amounting to over $1,460 at the present token price.
The Evolving Value of the Airdrop
Remarkably, the collective value of the entire airdrop has surged from an initial estimate of $70 million shortly after the token launch to an impressive $140 million, highlighting the success of the Xai Network’s airdrop strategy. This growth reaffirms the network’s commitment to rewarding early contributors and incentivizing active involvement in the ecosystem.
Anticipated Price Range for XAI
Considering these developments, there is an anticipated price range for XAI to fluctuate between $1.070 and $1.466. Should the upper limit of this projection be achieved, it implies the potential for a substantial surge of nearly 35%, propelling XAI to reach $1.466.
In conclusion, the XAI token’s recent surge underscores the dynamic nature of token markets and the positive community response to the Xai gaming network’s token launch and airdrop. This demonstrates the network’s ability to engage and incentivize participants effectively, making it a noteworthy player in the cryptocurrency space.
Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.