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?
Absolutely, the recent distribution of ALT tokens has raised intriguing questions about the start of Airdrop season. The initial 3% airdrop of 300 million tokens, valued at $96 million, has undoubtedly stirred excitement in the community. What's particularly interesting is the subsequent surge in ALT's market cap to $365 million and an FDV exceeding $3 billion.
Examining the distribution further, top addresses claimed significant amounts during the airdrop, with holdings worth $420k and $388k at the price of $0.32. This, combined with the positive price action since listing, suggests a keen interest from investors.
However, while some might see this as the beginning of Airdrop season, it's crucial to approach this with a nuanced perspective. The surge in price might be attributed to factors beyond just the airdrop, such as market sentiment, project fundamentals, and broader industry trends. It's always wise to conduct a deep analysis of the project, its team, and the overall market conditions.
As for the question of whether ALT is worth investing in, opinions may vary. The recent listing on several top exchanges is a positive sign, but it's advisable to proceed with caution and conduct thorough due diligence. What might be promising today could change tomorrow.