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4 Upcoming Crypto Airdrops to Boost Your Portfolio

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The crypto markets are entering what could be one of the most volatile weeks of 2024, with major US economic events on the horizon. As analysts brace for increased market swings, crypto airdrops might offer investors a way to benefit without upfront investments.

Airdrops distribute free tokens, often as a strategy to gain followers and expand a project’s user base. This week, five notable airdrops are worth keeping an eye on.

Confidential Layer

Confidential Layer advertises itself as the first decentralized protocol linking public and privacy blockchains. It operates as a non-custodial cross-chain protocol, offering a bridge between public and private blockchains.

The network launched its airdrop campaign on October 30, with a total airdrop pool of 35% of the total supply of CLONE tokens. Allocations are available for all eligible participants.

“Over 35% of the token supply is allocated for airdrops and incentives, built for the community and rewarding early adopters. We’re here to recognize and support those who join us early,” the project noted.

Read more: What are Crypto Airdrops?

To qualify for the airdrop, farmers must engage in specified tasks, including completing social assignments and referring friends. It delivers an exciting adventure to secure exclusive rewards, with airdrop distribution expected to take place in December 2024.

PAWS

Operating as a Telegram mini-app looking to reward users for their digital footprint within the TON ecosystem, PAWS airdrop stands confirmed. It features a reward system that recognizes and incentivizes user engagement on the platform.

The PAWS airdrop offers eligible users an opportunity to claim tokens based on their Telegram activity and previous participation in related airdrops.

“Users who received tokens from the DOGS, NOT, and HMSTR airdrops are eligible to participate in the PAWS token distribution,” a paragraph on the page read.

This strategic approach to eligibility comes as PAWS commits to rewarding long-term Telegram users and early adopters of similar projects. Additionally, the airdrop features a unique point-based system, allowing users to earn additional rewards through referrals and completing social tasks to earn PAW points.

BulbaSwap

BulbaSwap enables users to execute token swaps for AI and meme coins while offering opportunities for liquidity providers to earn rewards.

The project recently confirmed its upcoming airdrop through its project documentation. A credits-based system has already been implemented to reward early platform adopters. Focusing on active traders, liquidity providers, and referral partners, these three participation categories form the basis of the BulbaSwap airdrop program.  

“This structured approach ensures that participants contributing to different aspects of the ecosystem can earn their share of the future token distribution,” BulbaSwap said.

With the credits program currently active, users can accumulate points based on their platform engagement. Bridging Ethereum (ETH) to Morph L2 is one of the participation criteria, with the “boost” page providing one avenue to maximize credits. Additional mechanisms include combining trading, liquidity provision, and referrals, participating in different trading pairs, and maintaining consistent platform activity.

Meanwhile, the BulbaSwap airdrop confirmation came after the project closed its $1.3 million seed round led by Foresight Ventures. Morph L2, MEXC Ventures Labs, and Kronos Research also participated in the fundraiser.

dGEN1

Combining the functionality of a traditional smartphone with native Web3 capabilities, Freedom Factory confirmed an airdrop program exclusive for dGEN1 device owners. It will reward the project’s early adopters and supporters with a share of a dedicated token pool. The distribution is set to commence in spring 2025 (March), coinciding with the delivery of the dGEN1 devices.

Read more: Best Upcoming Airdrops in 2024

The airdrop utilizes a unique NFT-based claim mechanism. Each dGEN1 device owner receives an NFT that represents their right to claim an equal share of the airdrop pool. The pool’s composition includes various tokens, with the exact value and distribution per holder transparently displayed on a dedicated website.

 “Added 0.5% of our reflection token to the dGEN1 airdrop pool, so the buyers of EthereumPhone [ethOS] can claim both our token and the reflections that accrue while we wait for delivery,” OG Baby Miggles noted.

This suggests that dGEN1 buyers could also be potentially included in future airdrops for Ethereum-based projects.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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VanEck Expands DeFi Offerings with PYTH ETN on Euronext

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Asset manager VanEck has launched a new ETN based on PYTH, specifically for European buyers. The Pyth network, a decentralized oracle protocol, has earned praise from VanEck for its potential to transform the DeFi landscape.

This launch follows several similar crypto-focused ventures by VanEck in recent months.

VanEck Launches PYTH ETN

According to a recent press release, asset manager VanEck is listing a new exchange-traded note (ETN) based on PYTH today. The Pyth network is a decentralized oracle protocol that uses PYTH as a network token. PYTH’s value has risen slightly since this announcement, bucking a decline this month, but there has not been a substantial price jump.

This new ETN is one of several recent crypto project investments by VanEck. Earlier in October, the firm launched a $30 million venture fund aimed at crypto startups and, just last week, partnered with Kiln to offer Solana staking.

Read more: What Is a Blockchain Oracle? An Introductory Guide

PYTH Valuation
PYTH Valuation on November 5. Source: BeInCrypto

VanEck publicly stated that Pyth’s technical potential inspired its latest ETN offering. Listed on Euronext Paris and Euronext Amsterdam, the ETN is now available to investors. Although distinct from an ETF, it shares some similarities: its value is tied to PYTH, and VanEck secures the ETN’s underlying assets in cold storage.

“Smart contracts… are gaining increasing significance in the financial world… and oracle networks play a crucial role in enabling [their] real-world use. With our Pyth ETN, investors have the opportunity to participate in the development of… Pyth Network, which has the potential to become a crucial part of DeFi application infrastructure,” VanEck Europe CEO Martijn Rozemuller said.

Read more: Crypto ETN vs. Crypto ETF: What Is the Difference?

However, it remains unclear whether “underlying assets” specifically refers to PYTH tokens. The ETN’s value is derived from the MarketVector Pyth Network VWAP Close Index, which in turn tracks PYTH’s value indirectly. This layered approach to value calculation may help explain why PYTH’s price has remained relatively stable since the announcement.

The press release also notes that the ETN is available across 15 European countries under the ticker VYPT, with a total expense ratio of 1.5%. VanEck cautions twice in its statement about the “risk of extreme volatility” associated with the product.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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Swift, UBS, Chainlink Pilot Simplifies Tokenized Fund Transactions

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In partnership with UBS Asset Management and Chainlink, Swift has completed a pilot program designed to streamline tokenized fund transactions through its established financial network.

Conducted as part of the Monetary Authority of Singapore’s (MAS) Project Guardian, this pilot demonstrates how financial institutions can leverage Swift’s existing infrastructure to manage off-chain cash settlements for tokenized assets.

Swift, UBS Asset Management, and Chainlink have completed a pilot for settling tokenized fund subscriptions through the Swift network. The initiative addresses inefficiencies in the $63 trillion global mutual fund market by connecting 11,500 institutions to streamline manual processes and cut costly settlement delays that hinder liquidity.

“Chainlink is enabling institutions to reuse Swift’s infrastructure to facilitate payments for digital asset transactions. I am very excited by the upcoming adoption of these off-chain payment capabilities and how they will increase the flow of capital and expand the possible user base of digital assets,” Chainlink co-founder Sergey Nazarov said.

Read more: RWA Tokenization: A Look at Security and Trust

Chainlink and Swift’s pilot bears real potential in demonstrating how financial institutions can streamline these processes in the future. It automates payment processing for tokenized investment funds without requiring a fully blockchain-based system. This approach makes transactions faster and more efficient.

The pilot builds on earlier work between UBS Asset Management and SBI Digital Markets. Their previous collaboration focused on developing a Digital Subscription and Redemption system for tokenized funds.

Using Swift’s established infrastructure, the pilot demonstrated how fund transactions could be settled efficiently by connecting traditional systems with blockchain. Upon meeting specific conditions, UBS’s tokenized investment funds automatically issued or canceled fund tokens for investors.

UBS rolled out a tokenized fund on the Ethereum blockchain on November 1. The “UBS USD Money Market Investment Fund Token,” known as “uMINT,” aims to meet growing demand for tokenized assets. Meanwhile, MAS highlighted its dedication to asset tokenization, drawing insights from 40 institutions and 15 pilot trials.

“Our collaboration with UBS Asset Management and Chainlink under MAS’ Project Guardian uses the Swift network to bridge digital assets with existing systems. This approach supports our goal of helping financial institutions securely transact across various digital asset classes and currencies,” Swift Head of Strategy Jonathan Ehrenfeld commented.

Read more: How To Invest in Real-World Crypto Assets (RWA)?

The pilot highlights the growing momentum toward integrating digital assets with mainstream financial systems, illustrating how established infrastructures like Swift’s can support the fast-evolving digital economy.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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Why FET Recovery Could Be More Than 10% in November

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Artificial Superintelligence Alliance (FET) is one of the top gainers today, registering a 10% increase within the last 24 hours. This FET recovery contradicts its performance in October, when its price decreased by 13.39%.

Following this rebound, on-chain data shows that the altcoin could be working toward wiping out those losses. Here is how.

Artificial Superintelligence Alliance Sees Buying Pressure  

Yesterday, FET’s price was $1.10. But as of this writing, the altcoin’s value has risen to $1.25. According to the 4-hour chart, FET’s price climbed this high due to rising buying pressure. 

Notably, Bull Bear Power (BBP) has jumped to the positive region after remaining in the red area since November 1. The BBP shows whether the strength of buyers is greater than that of sellers.

When the reading is negative, bears have the upper hand. Therefore, in this instance, bulls are in control. As such, the altcoin’s value could continue to climb if this remains the same. 

Read more: How to Invest in Artificial Intelligence (AI) Cryptocurrencies?

FET recovery driven by bulls
FET Bull Bear Power. Source: TradingView

The Money Flow Index (MFI) is another indicator suggesting that the FET recovery could be swift. The MFI, which measures buying and selling pressure by analyzing price and volume data, has shown a positive trend for FET. 

A rising MFI indicates increased buying pressure, which supports the likelihood of continued price growth as demand for the asset strengthens. Therefore, if bulls sustain this momentum, then the altcoin’s price might continue to rise.

FET recovery is ongoing
FET Money Flow Index. Source: TradingView

FET Price Prediction: Token to Breach Resistance

Since the IOMAP indicates that there is only one significant resistance level for FET at $1.28, where 3,590 addresses hold 616.89 million tokens, it suggests that surpassing this level could open up further upside potential. 

Notably, the IOMAP tool categorizes addresses by whether they are making a profit, breaking even, or incurring losses at the current price

This accumulation zone acts as a key psychological barrier. The volume of tokens accumulated here is notably higher than the amounts held between $1.06 and $1.25, signaling that if buyers manage to push the price beyond $1.28, FET could gain strong momentum.

Read more: Which Are the Best Altcoins To Invest in November 2024?

FET bulls to breach resistance
FET In/Out of Money Around Price. Source: IntoTheBlock

Therefore, if buying pressure continues to increase, FET could rally all the way to $1.44. However, if bulls fail to breach the resistance, the altcoin price might pull back, and FET could drop to $1.10.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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