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4 Upcoming Crypto Airdrops to Boost Your Portfolio

Published

3 months ago

November 5, 2024

Coin2049 Newsletter

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 Conditions, Privacy Policy, and Disclaimers have been updated.

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FTX Creditors To Begin Receiving Payouts From February 18

Published

16 minutes ago

February 4, 2025

Coin2049 Newsletter

Three years after FTX went bankrupt, its creditors are finally going to receive payments. These payouts will begin as early as February 18, starting with claims under $50,000.

These early payments will only begin for creditors in the Bahamas process. Other categories of former FTX users will have a deadline of March 4 to receive payouts.

FTX To Begin Reimbursing Creditors

According to an email circulated among FTX creditors, they will begin getting reimbursed for lost assets. These payouts will begin at 10 AM ET on February 18 and will only apply to claims under $50,000.

According to this email, all repayments in this category will be processed through BitGo, a crypto custody platform.

“The Joint Official Liquidators of FTX are pleased to inform you that you have completed all the required steps to be eligible to receive a distribution related to your Convenience Class claim and that a payment will be made to your nominated account,” the email began.

Apparently, however, these early reimbursements will only go to FTX creditors in the Bahamas process. According to a creditor advocate, former users in other categories will begin receiving payments on March 4.

Since FTX went bankrupt in 2022, its substantial obligations to its creditors have weighed heavily on the crypto market. The lost cryptoassets have greatly appreciated in value since the collapse; creditors will, therefore, receive 9% interest per annum starting from November 11, 2022.

There are still several unanswered questions in this process, especially regarding FTX creditors outside the Bahamas process.

However, after months of positive signals, this is the largest concrete step towards recuperating the investors’ assets. This development will help close a chapter on one of crypto’s darker moments and rebuild overall confidence.

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Market

Is Now the Time to Buy?

Published

1 hour ago

February 4, 2025

Coin2049 Newsletter

Leading meme coin Shiba Inu (SHIB) has seen a significant drop in value, falling by 20% over the past week. Due to this double-digit price fall, a key on-chain metric suggests that SHIB has become undervalued, indicating it might be a good time to buy.

However, while the MVRV ratio suggests a favorable buying opportunity, SHIB’s downtrend may not be over.

Shiba Inu Becomes Undervalued, But There Is a Catch

An assessment of SHIB’s market value to realized value (MVRV) ratio using a 30-day moving average confirms its undervalued status. According to Santiment’s data, this ratio is -29.35% at press time.

An asset’s MVRV ratio identifies whether it is overvalued or undervalued by measuring the relationship between its market value and its realized value. When an asset’s MVRV ratio is positive, its market value is higher than the realized value, suggesting it is overvalued.

On the other hand, as with SHIB, when the ratio is negative, the asset’s market value is lower than its realized value. This suggests that the coin is undervalued compared to what people originally paid for it.

Historically, negative MVRV ratios present a buying opportunity for those looking to “buy the dip” and “sell high.” However, the strong bearish sentiment plaguing SHIB suggests that the likelihood of a price rebound in the near term may be low.

Notably, the bearish bias is reflected by the meme coin’s negative funding rate of -0.03% at press time.

The funding rate is the periodic payment exchanged between long and short traders in perpetual futures markets. It is designed to keep the price of a derivative close to the underlying asset. When the funding rate is negative, short traders pay long traders, indicating bearish sentiment as more traders bet on the price going down.

Therefore, while SHIB’s MVRV ratio indicates that the meme coin is currently undervalued, making it an attractive entry point for traders looking to “buy the dip,” the prevailing bearish sentiment suggests that the downtrend may not be over.

SHIB Price Prediction: Will Buyers Step In?

On the daily chart, SHIB’s Chaikin Money Flow (CMF) supports the bearish outlook above. As of this writing, the CMF indicator is below zero at -0.03, indicating a strong selling activity among traders.

An asset’s CMF measures money flow into and out of its market. When its value is below zero, buying activity is minimal. If SHIB’s demand remains low, it will extend its decline to $0.000014.

SHIB Price Analysis. Source: TradingView

Conversely, if coin distribution stalls, it could drive SHIB’s value up to $0.000016.

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 Conditions, Privacy Policy, and Disclaimers have been updated.

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Market

ADA Bullish Momentum Fades As Bears Reclaim Control At $0.8119

Published

2 hours ago

February 4, 2025

Coin2049 Newsletter

Cardano’s (ADA) bullish momentum is losing steam as bearish pressure mounts, forcing the price to retreat from the critical $0.8119 level. After a promising attempt to push higher, ADA bulls are now struggling to maintain control, with sellers stepping in to reclaim dominance.

The recent rejection of this key resistance suggests that downward pressure is building, raising concerns about whether the altcoin can hold its ground or slip further. With technical indicators hinting at growing weakness, the focus now is on the next support zones to determine if a deeper correction is on the horizon.

Market Sentiment Shifts: Bulls Losing Their Grip

Cardano’s market sentiment has shifted as bulls appear to be losing their grip on price action, with ADA continuing to trade below the 100-day Simple Moving Average (SMA). This key level has become a barrier that the bulls have yet to break through, indicating weakening buying pressure and increasing dominance from the bears.

The failure to reclaim the 100-SMA suggests that the bullish momentum, which initially gained traction, is losing steam, and the market is starting to lean toward a bearish outlook.

Further compounding the bearish outlook is the recent movement of the Relative Strength Index (RSI), which has started to drop again before reaching the 50% threshold. Typically, this reflects that buying pressure is fading, and selling momentum is building, adding more weight to the argument that the bulls are losing control.

With the price struggling below the 100-SMA and the RSI reflecting weakening momentum, the outlook for ADA remains uncertain. Unless bulls can regain traction and break above the 100-SMA, the asset might face further declines, as bears continue to dominate the market.

Key Support Zones In Focus As ADA Faces Bearish Pressure

After ADA’s recent struggle at the $0.8119 resistance level, the focus is shifting to crucial support zones that will be vital in determining its next move. As bearish pressure mounts and the price remains under the 100-day SMA, ADA’s ability to hold key support levels is under scrutiny.

The immediate support zone to watch is $0.6822, which has previously acted as a critical level for ADA. If the price tests and holds this zone, it could serve as a launching pad for another attempt at the upside.

However, if ADA fails to hold $0.6822, attention will turn to the next major support at $0.5229, where a more significant bounce may occur once buying pressure resurfaces. Should these support levels be breached, ADA may face a more extended period of downward movement, with $0.55 emerging as the next line of defense.

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