Binance HAEDAL Airdrop Boosts Token Value 60%

Binance, the world’s largest crypto exchange, has once again demonstrated its influence in the crypto market with the launch of its HAEDAL airdrop. The airdrop has sparked a 60% surge in the value of the HAEDAL token, which was first launched in April. This significant increase in value highlights the exchange’s growing dominance and strategic asset launches.

Binance’s announcement of the HAEDAL airdrop stated that users who subscribed their BNB to Simple Earn and/or On-Chain Yields products would receive the airdrop distribution. HAEDAL is a liquid staking protocol built on the Sui blockchain, rewarding users for staking SUI and granting them haSUI tokens to gain DeFi liquidity while passively reaping rewards. Although HAEDAL has been available on decentralized exchanges (DEXs) and other DeFi institutions, Binance is the first major exchange to list it, contributing to its value surge.

Despite the significant increase in HAEDAL’s value, there have been some concerns about Binance’s airdrop tokenomics, particularly the high token allocation directed towards Binance Alpha users. However, these concerns have been relatively low, especially compared to the feedback received during the April TGE.

In addition to the HAEDAL airdrop, Binance is also hosting two token generation events (TGEs) for ALLO and TGT. ALLO is a financial asset tokenization firm, and Binance’s heightened interest in the real-world asset (RWA) sector makes this endeavor a strategic move. The TGE for ALLO will take place the following day, with eligible users needing to spend Binance Alpha points to participate. The TGT airdrop, which seeks to combine AAA gaming with the growing Web3 ecosystem, will take place on the same day as the HAEDAL airdrop, following similar rules to the ALLO event. Several exchanges are now listing TGT, but Binance Alpha is the first platform to feature it.

Binance’s ability to boost young token projects with its platform and user base is evident in the success of the HAEDAL airdrop. The exchange’s strategic moves, including the HAEDAL airdrop and the listing of new tokens, underline its significant impact on the crypto market. As engagement levels rise, Binance remains a focal point for investors seeking opportunities in the evolving landscape of digital assets.