Solana-Based Altcoin Developers Airdrop 40 Million Tokens, Price Reacts!

wither based NFT platform Metaplex (MPLX) local altcoin Its value dropped significantly after the announcement of a second airdrop.

MPLX Altcoin Drops 60 Percent After 40 Million Airdrop Announcement!

The MPLX token, which had an average price of $0.35 for the past two weeks, has dropped to $0.12 today. This 60% drop came after the project announced that it would issue a second airdrop of its token.

The Metaplex Foundation held its first airdrop in September, rewarding creators who used the project’s tools to launch their NFT collections on Solana. Some members of the community have made an effort to extend the airdrop to reward collectors.

This issue was put to a vote in the DAO, but supporters were unable to get enough votes to secure the required majority.

On Tuesday, the Metaplex Foundation announced that it will release 40 million MPLX tokens to reward collectors regardless of the failed vote. This second airdrop rewarded collectors who mined at least five NFTs using the oldest version of the Metaplex minting module.

The second airdrop has already started. Data on the project’s website shows that 10.8 million MPLX altcoins were used during the two airdrops.

These tokens give their holders management rights, meaning that token holders can use them to vote on issues within the DAO.

world’s largest cryptocurrency One of its ecosystems, the Solana network, recently faced a temporary outage.

*Not investment advice.