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NFT Christmas: SOS token pumps by over 1,000 percent

 


Above all, the NFT space was able to collect a lot of presents through an airdrop over the holidays. The market update.


It seems like Santa Claus brought some nice gifts to the crypto market too. One look at Coingecko doesn't paint an overly red or green picture. The selling pressure of the past few weeks could slowly come to an end.


The top 10 cryptocurrencies by market capitalization get by with only a few outliers as of December 27th. At the time of writing, Bitcoin (BTC) is trading 1.8 percent up on the day, trading at around $ 50,895. The DeFi front-runner, Ethereum (ETH), has risen by 0.7 percent in the last 24 hours at around $ 4,065.



Solana (SOL), Cardano (ADA) and Terra (LUNA) each recorded a price increase of around 3 percent overnight. The coins are currently trading at $ 198.87, $ 1.48 and $ 100.05, respectively. The only major outlier among the 10 largest cryptocurrencies is Polkadot (DOT). The token recorded a price increase of 9.1 percent overnight and is currently around 31.23 US dollars.


Mayfly in NFT space

NFT enthusiasts were able to get hold of a surprising Christmas present just in time for the festival. On December 24th there was an airdrop that made a certain number of the so-called SOS tokens available to all active users of the popular NFT marketplace OpenSea .




The airdrop did not come from the NFT marketplace itself, but from the decentralized, autonomous organization The OpenDAO . According to its own statements, it has set itself the goal of "honoring, protecting" and "promoting" the NFT community. With the airdrop of the SOS token, the DAO would like to thank "all NFT creators, collectors and markets for promoting the entire NFT ecosystem".



Within a day, the token managed to skyrocket more than 1,000 percent. At the time of going to press, however, the initial euphoria was already leveling off. The SOS token is currently at $ 0.00000591, almost half of what it was yesterday's all-time high.


With a maximum amount of 100 trillion, half of the SOS tokens should be handed over to OpenSea users. The amount due to users is calculated based on the number of transactions made on the NFT marketplace and their volume. According to the DAO, the weighting here is 30 percent and 70 percent respectively. At the time of going to press, there were over 203,000 users who picked up their tokenized Christmas present.



In the meantime, it remains to be seen whether the airdrop was just a flash in the pan or whether there is a sustainable concept behind the SOS token. Because there is not a lot of information about the project.

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