Solana brush
+1.97%
According to data from DefiLlama, property-based betting platform Parcl saw about $74 million taken out of the protocol following the April 3 airdrop snapshot. This means that the total value has decreased by about 40% in about two weeks.
The platform distributed native Parcl (PRCL) tokens to eligible users on Monday after taking a snapshot of users’ point balances earlier this month. The total value locked was $184.5 million on April 3, but has since declined to $110.69 million at the time of publication. Dipilama.
After airdropping 80 million PRCL tokens at an initial value of $0.8255, its value soon fell to a low of $0.45 this morning, according to CoinMarketCap. data. It is currently changing hands at $0.5294. Launched in February 2023, the decentralized betting platform allows users to trade assets that reflect major city housing markets.
Parcl did not immediately respond to The Block’s request for comment.
The massive withdrawals seen from Parcl follow the weak performance of other tokens airdropped from Solana, including Wormhole’s W, which plummeted. 56.4% After debut on April 3rd. NFT platform Tensor’s TNSR token lost half its value after the airdrop.
Nevertheless, the Solana project continues to promote airdrop events. Decentralized Exchange tendency On Tuesday, it announced that it would launch and airdrop a governance token, DRIFT, and another DEX. Zeta Market A similar announcement was made last week.
Solana has experienced severe congestion in recent weeks. cause Spam transactions where bots attempt to prioritize the activity of regular users. Solana developers have since sent out an update to fix the issue.
According to CoinMarketCap, Solana’s price has fallen 18.8% over the past seven days.
Cryptocurrency markets overall were down last week. GMCI 30an index representing the top 30 cryptocurrencies, has fallen 13.79% over the past seven days, with investors remaining wary of risky assets such as: Iran’s attack on Israel Over the weekend.
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