Market
5 Crypto Airdrop Opportunities Backed by Major Venture Capitalists
As crypto markets remain broadly bullish, several airdrops provide exciting opportunities to earn tokens without any initial capital.
Airdrop farmers looking for top campaigns with tier-one investor backing have a long list to select from.
Five Airdrops With Tier-1 Backing
Discover the top 5 potential airdrops and learn which venture capitalists are backing them.
Story Protocol
The project forayed into Web3 to tokenize and share Real-World Assets (RWAs) considered intellectual property (IP). This creates a way for owners to generate profit and share revenue.
Although the status of the airdrop remains unconfirmed, Story Protocol has garnered up to $134 million in venture capitalist (VC) funding. Participants in the three-round fundraiser include Andreessen Horowitz, Polychain Capital, Hashed Fund, Mirana Ventures, and Balaji Srinivasan, a former Coinbase executive.
Activities for airdrop participation include completing specified testnet tasks and minting the Iliad launch IP asset on the Story Iliad testnet page. Users who interact with the testnet may receive an airdrop if their token goes live.
Read more: What are Crypto Airdrops?
Praxis Society
Advertising as a network state, Praxis Society is a potential airdrop, with up to $544 million in funds raised. Renowned VCs like Paradigm, Winklevoss Capital, Gem Digital, and Apollo Projects, among others, participated in the fundraiser.
“Praxis Society just closed another second round for a total of $525 million, bringing their total to $544.2 million,” one airdrop farmer confirmed.
The airdrop project currently has a form that interested participants can fill out to apply for the Citizenship role. Quality completion increases the chances of getting Citizenship. Participants who complete the tasks may qualify for potential Praxis Society airdrops and rewards.
Azra Games
Azra Games confirmed its airdrop after raising $67.70 million in funding rounds co-led by Pantera Capital and Andreessen Horowitz. Other major backers include Coinbase and Franklin Templeton Investments. It is a blockchain-based video game developer, with the funding intended to support and drive what Azra is describing as the “4th generation of mobile RPGs”.
There is a list of activities to do in the project for a potential airdrop, including joining the waitlist and the Discord. Participants must also link their wallets and perform quests to get points.
The project is at an early stage of development, which means being active positions participants to become early birds.
Vana Network
Vana is a potential airdrop with up to $25 million in funds raised. Coinbase Ventures, Polychain Capital, and Paradigm co-led the tier-one funding as Vana Network looks to transform the AI and data ownership spaces.
The project launched the Data Hero Bot on Telegram, allowing data pioneers to complete challenges and pre-mine VANA points. These will be converted into VANA tokens post-TGE (token generation event).
Beyond that, other activities that make participants eligible for the airdrop include submitting data to relevant DataDAOs for increased rewards. Referrals earn bonus points, and valuable conversions send participants higher in the leaderboard. Installing a Vana Node on the test network also earns extra rewards.
CCP Games
CCP Games is one of the top airdrops with major VC backing. It has raised $40 million, led by Andreessen Horowitz, and other participants include Hashed Fund, Makers Fund, Nexon, Bitkraft Ventures, and Kingsway Capital.
The project confirmed its airdrop with the ongoing Phase 4 of the EVE Frontier closed test. According to Airdrop Adventure, which researches airdrops, it could happen by the end of the year or shortly after.
Read more: Best Upcoming Airdrops in 2024
According to the project’s official FAQ, an EVE Token will be minted on Ethereum. It is a utility token that can be exchanged for external value. There is also a LUX Token, which is used for in-game transactions. To participate in the airdrop, users must engage in specific social tasks and invite friends.
Airdrop farmers may consider engaging with these projects to increase their chances of receiving valuable tokens. However, there are always security risks and uncertainties when users interact with new crypto projects. Hence, users should take their decisions with proper risk management.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
ETF issuer WisdomTree’s European division just announced a new ETP based on XRP. This product is currently available in four EU countries, which has led XRP’s price to jump slightly.
ETPs are a common issuer strategy to earn revenue without ETF approval, but Europe will not necessarily approve one even if the US does so.
WisdomTree’s XRP ETP
WisdomTree, one of the Bitcoin ETF issuers in the US, announced that its European branch is offering an exchange-traded product (ETP) based on XRP. This new product is currently available in Germany, Switzerland, France, and the Netherlands. A growing number of issuers have filed for an XRP ETF, but WisdomTree is taking a slightly different tack.
“The WisdomTree Physical XRP ETP offers a simple, secure, and low-cost way to gain exposure to XRP, one of the largest cryptocurrencies by market capitalization. Backed 100% by XRP, XRPW is the lowest-priced XRP ETP in Europe, providing direct spot price exposure,” the announcement claimed.
The possibility of an official XRP ETF is growing with the current bull market, and Ripple CEO Brad Garlinghouse considers it “inevitable.” Still, it hasn’t happened yet, and ETP offerings allow issuers to somewhat address customers’ requirements. BitWise, which has also filed for an XRP ETF in the US, recently acquired a European ETP issuer to enter the same market.
WisdomTree, however, is no stranger to this market strategy. In May this year, it won approval to offer ETPs based on Bitcoin and Ethereum to British investors.
The UK has not yet approved a full ETF for either of these assets, but WisdomTree still gained market access. Even a fraction of the XRP market could also prove lucrative; the asset’s value spiked today.
WisdomTree Europe’s strategy page does not describe any further actions upon full approval. Even if the US approves an XRP ETF under the SEC’s new leadership, that won’t necessarily benefit WisdomTree’s European branch. For now, these ETPs built on XRP will have to suffice for this market.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
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