Alt Coin

New Ethereum-Based Altcoin Skyrockets a Staggering 2,191% in Just One Day

An Ethereum-based altcoin that has lately entered the crypto markets is posting large positive factors to the tune of almost 22x in simply 24 hours.

OpenDAO (SOS) noticed a staggering improve in price following its airdrop on December twenty fourth.

Data from CoinMarketCap exhibits that SOS surged from a low of $0.00000048 on the day of the airdrop to an all-time excessive of $0.00001154 on December twenty fifth, marking a 2,191% rally in simply sooner or later.

The OpenDAO mission launched the SOS token to reward the individuals of the non-fungible token (NFT) trade. For its airdrop on December twenty fourth, OpenDAO began to distribute SOS tokens to customers of OpenSea, the biggest NFT market.

“SOS is grateful to all NFT creators, collectors and markets for nurturing the entire NFT ecosystem. Special thanks go to OpenSea for its leadership in promoting NFT trading. To pay tribute, we have chosen OpenSea collectors to conduct our airdrop.”

The OpenDao web site says 50% of the 100 trillion complete SOS tokens can be allotted to those that have traded on OpenSea since day one. The distribution of coins is determined by the person’s complete variety of transactions on OpenSea in addition to the quantity of Ethereum (ETH), Dai and USD Coin (USDC) that a person has spent on the platform.

OpenSea customers can declare their tokens till June thirtieth, 2022.

The remainder of the tokens might be distributed as follows: 10% for liquidity supplier incentives, 20% for staking incentives and 20% for the OpenDAO Treasury. 

The SOS allotted for OpenDAO might be used to compensate OpenSea rip-off victims, present developer grants for individuals of the SOS ecosystem and help rising artists, NFT communities and artwork preservation.

SOS has retraced since recording its all-time excessive, and it’s now exchanging arms at $0.000006.

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Featured Image: Shutterstock/Tithi Luadthong

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