Binance rolls out HODLer airdrops to BNB Holders

In this post:

  • Binance is launching HODLer Airdrops, an exclusive campaign for BNB holders who are currently subscribed to its Simple Earn yield program.
  • Binance aims to engage small—to medium-sized projects with strong fundamentals, a large circulating supply, and organic communities.
  • BNB continues to see market fluctuations amid memecoin and airdrop mania in the crypto market.

Binance recently announced the HODLer Airdrop program, which is designed to benefit BNB holders. According to Binance, subscribers to Simple Earn using BNB will receive airdropped tokens from projects that have a high token supply and are planning to launch on the platform soon.

Also Read: Base becomes the top deployer of account abstraction wallets

The announcement indicated that tokens will be airdropped from initiatives with a substantial circulating supply. This initiative aims to boost Binance’s users’ engagement and provide additional advantages to those who hold BNB.

Binance brings HODLer Airdrops

Binance is collaborating with smaller projects that have excellent fundamentals, a substantial circulating supply, and active communities to launch the HODLer Airdrop. To participate in these airdrops, users need to go to Binance’s Earn section, search for BNB, and subscribe to either the Flexible or Locked Simple Earn products using their BNB holdings.

Source: Binance Press Release

As designed by Binance, once joined, the exchange will notify you of each forthcoming HODLer Airdrop of new coins. In addition, members’ average hourly balances will be calculated by taking multiple hourly pictures of their balances and the entire pool amount in the Simple Earn products. 

In addition, random historical snapshots of user balances collected following the announcement will decide the airdrop awards.

For example, if an airdrop occurs on June 11, snapshots of user balances from June 1 to June 7 may be used in computations. Eligible users will get their airdrop rewards in Spot Wallets within 24 hours of the announcement.

BNB price action

BNB saw a surge in buying interest, quickly climbing from $200 to $300 and eventually reaching $600. After reaching $600, it formed an ascending triangle pattern, eventually surpassing its previous record high of $700. 

Unfortunately, the surge in value didn’t last long, as sellers quickly took advantage of the upward momentum and brought it to a halt within a week.

Source: CoinGecko

The price of BNB has reached $598, accompanied by a 24-hour trading volume of $1.3 billion. This reflects a 2.9% increase in the last 24 hours despite a 3.22% decline in value over the last week. 

With 150 million BNB in circulation, the token currently boasts a market cap of $91.5 billion. In addition, BNB’s Open Interest has experienced a significant increase of 1.74%, reaching a current valuation of $585.6 Million.

Airdrops mania takes over June’s crypto market

Airdrops and meme coins have taken over the June crypto market. Airdrops offer an efficient method to acquire free crypto tokens inside a crypto project, with potential rewards ranging from $1 to $10,000 worth of crypto assets.

Airdrops provide an opportunity for investors and crypto users to get involved with a crypto project and potentially receive free tokens as a reward. This June, several exciting Airdrop campaigns, including the Starknet Airdrop, are worth watching.

Starknet serves as a secondary network on the Ethereum blockchain, dedicated to significantly enhancing the scalability of Decentralized apps while maintaining the utmost security and compatibility of the Ethereum blockchain. 

Also Read: Kraken reveals bug allowed rogue ‘security researchers’ to exploit $3M

Bear Chain’s airdrop is on their test net. Bear Chain is an EVM-equivalent L1 based on the Cosmos SDK. It is powered by proof of liquidity and backed by Polychain and Hack VC. 

The third airdrop is known as the Data Ownership Protocol (DOP). This protocol employs zero-knowledge proofs to conceal or reveal assets. DOP has promised to airdrop 1% of its total supply to early testnet users.

Cosmos introduced airdrop staking, in which tokens are staked in exchange for airdrop prizes. The Wormhole Project raised $225 million and has a $2 billion valuation.

Cryptopolitan reporting by Florence Muchai

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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