What Happened on Mar. 21st | Post Airdrop Price Action
For major airdrops, it always follows a pattern of (1) immediate dumping of claimable tokens, (2) the token pumps, CEX listings come in and people FOMO into the token and then (3) trading normalizes and then token trades off / distributes for a bit. (here is the analysis)
Another analysis of the recent Blur airdrop: the token traded off sharply and then pumped 150% from the airdrop dumping lows. From there the token trades down.
Biggest Gainers & Losers
Arbitrum Announces DAO Airdrop Details, GMX and Treasure to Receive 8M $ARB Respectively: Arbitrum announced the details of the DAO airdrop, saying that only projects on Arbitrum with a DAO and a community treasury are eligible to participate in this distribution.
Camelot Sees Surged TVL, Price, and Transaction Volume ahead of Arbitrum Airdrop: The TVL has grown by more than 50% in the past week. The surge in users has also led to an all-time high of $47 million in 24-hour trading volume.
Hot projects on the market
Immutable Partners with Polygon to Launch Immutable zkEVM, a ZK-Rollup Using $IMX as Gas Token
Other news in case you missed it:
Synthetix Secures $20 Million Investment from DWF Labs in New Partnership