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Ethereum Wallet Owners Can Claim Free AltLayer (ALT) Tokens
01/26/2024

Ethereum Wallet Owners Can Claim Free AltLayer (ALT) Tokens

01/26/2024
4,5

About 40,000 addresses have already received between 10,000 and 300,000 ALT tokens. Members of the Ethereum ecosystem have a chance to apply for an ALT airdrop until February 25.

On Thursday, scaling protocol AltLayer launched an airdrop of its native token ALT. The first round will distribute 300 million tokens, 100.7 million of which have already been claimed by ecosystem participants. Arkham Intelligence estimates that one address received 1.29 million ALT, which is roughly $408,000. And one of the AltLayer NFT owners received 1.19 million ALT tokens, which is $367,000. Yet, ecosystem members can still get free tokens.

Currently, nearly 500,000 wallets across the entire Ethereum ecosystem are eligible for the ALT airdrop. This number also includes AltLayer NFT holders and early AltLayer ecosystem members participating in network testing. EigenLayer restaking participants and Celestia (TIA) holders who have staked are also eligible for the airdrop. However, they will receive ALT a little later. The protocol team pointed out in its blog post to technical difficulties related to Celestia owners' submissions.

After the launch of ALT tokens, their market capitalization was $370 million. And with a listing on Binance, the token soared 5,380% in price on the platform within minutes. This growth was due to the farming program on Binance, which recently ended and allowed participants to get their ALTs. The sharp rise in the token's price has led the platform team to introduce ALT to its Simple Earn and Convert services and plans to introduce it to other services such as Margin, Futures and Auto-Invest by January 27. At the time of writing, the coin has seen a 24-hour gain of 4.19%. ALT's price is trading around $0.3329.

Source and Copyright © TradingView 

AltLayer is a decentralized protocol that allows developers to create rollups from software stacks such as ZKStack, Arbitrum Stack, Polygon CDK and OP Stack. ALTs will be used for protocol management decisions, to pay fees and other purposes.

An application for an ALT airdrop can be submitted until February 25, after which unclaimed tokens will be sent to AltLayer's treasury.


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