TON airdrops $2.2m to meme coin traders amid Toncoin’s new all-time high

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TON Foundation distributed 300,000 Toncoin to active meme coin traders.

The Open Network distributed approximately $2.19 million in Toncoins (TON) through an airdrop to the most engaged traders of meme coins on DecentralAndDust and Stonfin exchanges.

Traders of meme coins who executed transactions on DeDust and Ston.fi between March 4 and April 10 qualified for an airdrop. Additionally, users needed to trade specific meme coins listed in the whitelist on the platform to accumulate points, which was a newly introduced reward system rapidly gaining popularity.

4/ Trading volume points breakdown:– <$2,700: 0 points– $2,700-$4,999: 1 point– $5,000-$9,999: 2 points– $10,000-$24,999: 3 points– >$24,999: 4 points— TON 💎 (@ton_blockchain) April 11, 2024

Based on the team’s information, each wallet would have been awarded 90 free tokens had the participant not been identified as a Sybil address during the snapshot. Unfortunately, no coins were transferred to such disqualified addresses.

Prior to the airdrop announcement being made public, Toncoin experienced another record-breaking price surge, with its value rising more than 14% within a 24-hour period and reaching a peak of $7.65 per token. Subsequently, after the news broke, TON‘s price dropped by about 5%, resulting in a new price of $7.22.

The announcement targets meme coin trading and investment on the TON blockchain, sparked by a meme craze that made some users instant crypto millionaires. On Solana’s blockchain, tokens like Dogwifhat (WIF) and Book of Meme (BOME) gained massive market caps, resulting in significant returns for early backers and buyers.

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2024-04-11 23:07