- SPACE token launch includes a seasonal airdrop plan and a staking program.
- Spacecoin sees a price drop of about 21%, yet trading volume surged over 718%.
Spacecoin, which provides satellite-based internet infrastructure, launched its own token, SPACE, on January 23, and it is available on Creditcoin, Ethereum, BSC, and Base blockchain networks. As it also plans a seasonal airdrop, staking program, and to list it on the exchanges, which has been confirmed through Spacecoin’s official X handle.
As per the post, on the first day, the token gets listed on centralized exchanges such as Binance, Kraken, OKX, Bitget, Coinone, KuCoin, MEXC, Bybit, and Blockchain.com. The SPACE token is also available on decentralized exchanges such as Aster DEX and PancakeSwap.
SPACE Airdrop and Staking Program
The official Spacecoin X post explains the SPACE token airdrop details, where 25% of tokens are unlocked at launch, and the remaining 1.05 billion SPACE tokens are released each month over the course of three months. With that, Season 1 is aimed at early adopters like Spacecoin Cadets and Creditcoin holders.
Then, Season 2, which allocates 1.26 billion tokens with 33.3% unlocked each month for three months, which would begin one month after the Token Generation Event. So, this type of phased distribution is mainly to increase airdrop participation while reducing selling pressure.
Also, Spacecoin has launched a time-limited staking mechanism that enables users to support the stability of the network while earning passive income, and an annual percentage rate (APR) of up to 10% is available to participants who invest their tokens, noted in the post.
SPACE Token Sees High Volatility
During the token launch yesterday, 21 million tokens entered as circulating supply, which is equal to 10.25% of the fixed 21 billion token supply.
The SPACE token surged and reached nearly $0.02701 immediately after the token launch, it is currently trading near $0.01759, which is down about 21.81%, but the trading volume alone surged around 718.68% and reached $236 million, with the market cap around $37 million, as per the CMC data. With that, the sharp rise in trading volume despite the price pullback suggests high volatility following the SPACE token’s launch.
Highlighted Crypto News:
World Liberty Financial (WLFI) on the Rise: Is This a Bullish Play or a Short-Term Bounce?
Source: https://thenewscrypto.com/space-token-debuts-with-airdrop-plans-and-exchange-listings-sees-volatile-trading/
