The XAI price experienced a boost after the Layer-3 gaming platform carried out a substantial airdrop of 125 million XAI tokens last week.
Recently, the native cryptocurrency XAI of the gaming-focused “Layer 3” network Xai blockchain, which operates on the Arbitrum platform, experienced a notable surge. Currently, the XAI price is up by 24.69% at $1.12, boasting a market cap of $311 million. Earlier today, XAI witnessed a significant rally, surging as much as 40%.
Factors Driving the XAI Price Rally
In a significant milestone for the Xai gaming network, which operates on the Ethereum scaler Arbitrum, the platform executed its first-ever airdrop last week, distributing a generous 125 million XAI tokens to early users and supporters. This strategic move aimed to reward and incentivize community engagement during the initial phases.
Upon its market debut last week, the XAI token started with an initial valuation of around $0.77. Like many new tokens, it experienced volatility, briefly dipping to $0.45. Despite this initial fluctuation, the token demonstrated resilience, and by early Sunday, its price embarked on a remarkable ascent from approximately $0.60. Presently, the token’s value has surged by almost 87% in just a day and a half. The recent listing on Binance further fueled the upward momentum.
This surge not only highlights the dynamic nature of token markets but also signals the positive response and market enthusiasm surrounding the Xai gaming network’s token launch and airdrop on Ethereum’s Arbitrum. Investors and enthusiasts are closely monitoring the XAI token as it continues to make waves in the cryptocurrency space.
Xai Gaming Network Airdrop Strategy and Token Value Surge
In a strategic initiative to bolster community support, the Xai gaming network recently executed a rewarding airdrop for early contributors. The distribution targeted holders of early Xai NFT collectibles and users acquiring Sentry Keys for validator node operations, a pivotal role in processing network transactions.
Node operators were beneficiaries of a substantial windfall, eligible to claim 1,658 XAI for each owned node, currently valued at approximately $1,860. Simultaneously, owners of Xai Vanguard NFTs could claim 1,307 XAI per NFT, totaling over $1,460 at the prevailing token price.
The cumulative value of the airdrop has witnessed significant growth, surging from an initial estimate of $70 million post-token launch to an impressive $140 million in the latest reports.
This surge not only reflects the success of the Xai Network’s airdrop strategy but also emphasizes substantial gains for participants, affirming the network’s commitment to rewarding early contributors and fostering active engagement in the ecosystem. Investors are keenly observing the evolving dynamics of the Xai Network as it continues to make substantial strides in the cryptocurrency space.
Considering the discussed factors, an anticipated price range for XAI is between $1.070 and $1.466. Achieving the upper limit of this projection could potentially result in a significant surge of nearly 35%, propelling XAI to reach $1.466.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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