MEME token’s price has skyrocketed to a high of nearly $2,000, causing the airdropped tokens’ total value to almost $700,000 in free DeFi money.
The DeFi expanse stretches to surprise with remarkable developments occurring daily. Announced last August 18th through a Medium Post, Meme protocol is swiftly picking up speed with its native token hitting almost $2,000 a couple of hours back.
The exciting thing is that it has a minimal supply of 28,000 tokens, and most of it was distributed through an airdrop to people who joined their Telegram group.
MEME Airdrop Worth $700,000
Data from Etherscan shows that 72 people collected around 355 MEME tokens as part of the protocol’s initial allocation.
Worth pennies back then, the 355 tokens are currently trading at around $1,500 each.
However, a couple of hours back, MEME’s price peaked at almost $2,000, bringing the total worth of the airdrop to about $700,000. Not bad for free DeFi money.
Remarking on being one of the lucky few was Anthony Sassano, who, two days ago, admitted that he got the airdrop.
I was one of the first airdrop recipients of 350 MEME tokens and sold them on day one because, at the time, it was just a random token with no use. It turns out that it became a legit project, and 350 MEME is currently worth $300,000.
Of course, that was two days ago when the MEME token price was below $1,000. Today, its value more than doubled.
Airdrops: The New “Fair” Deal
In August, Andre Cronje, the founder of Yearn Finance, advertised the launch of YFI – an amazingly limited governance token with a supply of just 30,000. The population seemed to like a lot about it because it was all distributed to the community as people were able to provide liquidity and farm it.
Now, it appears that airdrops are all the rage.
First in line was Uniswap – the most popular automated market maker and decentralized exchange protocol. It started its UNI governance token a few days back, and everyone who used the platform before September 1st received a minimum of 400 UNI tokens. The price for the coins surged to an all-time high of almost $9, and the value of the airdrop reached around $3500.
With MEME, people who got the airdropped tokens could currently sell them for much more, but of course, the number of users is substantially lower.