LayerZero's ZRO token has been listed on Binance and several other major exchanges. Will ZRO's price plummet?
LayerZero recently began distributing its ZRO tokens via an airdrop, with major crypto exchanges announcing their listings.For context, LayerZero is a cross-chain interoperability protocol facilitating seamless dApp functionality across blockchains and is in an expansionary phase.
To understand the context, exchange listings are significant for a token’s price. By listing a token, exchanges expose it to a broader audience of traders, often leading to increased demand and price appreciation.On 19th June, LayerZero unveiled its airdrop eligibility checker, allowing users to view their allocated ZRO amount. Unfortunately, many users discovered allocations significantly lower than anticipated.
Technical issues further affected the airdrop process. Some users reported problems with the mandatory $0.10 claim fee transaction. LayerZero acknowledged these issues and assured users that corrective measures had been taken.The ZRO Claim airdrop, targeting a wide audience of 1.28 million wallets, recently distributed 8.5% of its total community allocation of 23.8%.
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