Blast Airdrop Results

• Airdrop Distribution: Blast conducted its airdrop on June 26, 2024, distributing 17% of the total token supply to early supporters of its deposit campaign. This significant event aimed to reward the users and incentivize further participation in the network.
• Token Performance: The $BLAST token debuted at an initial price of $0.03, achieving a fully diluted market cap of $3 billion. However, shortly after the airdrop announcement, many users sold their tokens, causing the price to drop from $0.03 to $0.018. This rapid decline led to concerns among investors, with many expressing disappointment over the airdrop's immediate impact on the market.
• Market Reaction: The swift sell-off following the airdrop announcement highlighted the volatility of the market. The significant price drop from $0.03 to $0.02 raised questions about the airdrop's effectiveness and the overall market strategy, leading to a wave of dissatisfaction among the investor community.
• Claim Statistics: On average, users claimed 16,016.75 $BLAST tokens, though the median claim amount was much lower at 313.17 $BLAST tokens. In total, over 500,000 users participated in the airdrop, showcasing a broad base of participants.
• Vesting Details: For the top 0.1% of users, approximately 1,000 wallets, part of the airdrop will be vested linearly over a six-month period. This vesting process is contingent on meeting a monthly Points threshold based on Phase 1 activity, ensuring continued engagement and participation in the network.

In summary, while the Blast airdrop aimed to reward early supporters and stimulate market activity, the immediate sell-off and subsequent price drop underscored the challenges of managing large-scale token distributions in a volatile market.