With regards to the distribution of ALT token claim which began yesterday at 12:00PM with 300 million tokens distributed for the first batch of the Airdrop event valued at approximately $96m at the price of $0.32 per token, there has been excitement as to whether Airdrop season is back as Multi-layer roll-up distributor Dymension is also planning to launch its mainnet in coming days with 70 million DYM token allocated for the Airdrop event.
What captivated my interest was the drastic surge in the mcap of ALT after launch. With market cap currently around $365M and FDV of over $3B. It's important to note that only 3% of ALT total supply of 10B token was airdropped with top addresses claiming 1.29M and 1.19M tokens worth $420k and $388k respectively at the price of $0.32.
With the current positive price action, this proves that investors are Keen about the project hence the continuous surge in price since listing. Several top Cex have already listed the token on their platform leaving me with the question if ALT is worth investing in?
Once there are positive movement on crypto, new projects are more likely to issue their tokens. Some projects even wait for such positive sentiment to go with their private sale.
And as people are more willing to buy crypto, a lot of meme coin developers, pump and dump organizers and outright scammers are active on the prospects of making money.
So it results in a boost in number of airdrops being hosted through different means. Airdrop can be a cheaper mean to advertise as the project doesn't have to spend money from their pocket in most cases. The types of airdrops have also varied, currently most project are airdropping for engagement or staking the coins on it's platform than just giving some coins to random addresses.