Parcl Protocol On Solana Lost 40% TVL Following Airdrop
The Parcl protocol on Solana lost 40% of the total value locked after airdropping the PRCL token.
According to data from DefiLlama, users withdrew more than 40% of the total value locked (TVL) from the betting platform for the real estate market Parcl.
The snapshot was intended for an airdrop that took place on April 15. However, against the backdrop of his implementation, the TVL of the Solana-based project collapsed from $185.6 million to $109 million. The Parcl team noted that it had fined the addresses of users it suspected of being involved in the Sybil attack.
After trading began at the opening price of $1, the PRCL token fell to around 50 cents per coin. At the time of writing, the token is trading at 47 cents, having fallen in price by 14.5% over the past 24 hours.
On April 16, Parcl announced the launch of its PRCL token. Early adopters of the Parcl ecosystem and core community members can claim the token until Dec. 31.
Several cryptocurrency projects have announced airdrops. At the beginning of the month, the cross-chain protocol Wormhole on Solana distributed W tokens, attracting much attention from scammers. After reaching a high of $1.50, the coin’s price also fell to around 60 cents.
Blockchain ecosystem NFT platform Tensor has also launched a governance token. On April 9, the asset’s price approached the $2 mark but has since fallen to around 80 cents.
Ether Surges 16% Amid Speculation Of US ETF Approval
New York, USA – Ether, the second-largest cryptocurrency by market capitalization, experienced a significant surge of ... Read more
BlackRock And The Institutional Embrace Of Bitcoin
BlackRock’s strategic shift towards becoming the world’s largest Bitcoin fund marks a pivotal moment in the financia... Read more
Robinhood Faces Regulatory Scrutiny: SEC Threatens Lawsuit Over Crypto Business
Robinhood, the prominent retail brokerage platform, finds itself in the regulatory spotlight as the Securities and Excha... Read more
Binance: Tokenized RWA Market Surpasses $12b, Led By U.S. Treasuries
The market for tokenized real-world assets, excluding stablecoins, has surged past $12 billion, according to Binance. Th... Read more
Investors Pivot From PEPE, DOGE, Shift To New Hybrid Exchange Protocol
With memecoins like Pepe and Dogecoin plummeting, investors are turning to DTX Exchange for its hybrid trading potential... Read more
Pepe Unchained ICO Hits $13M As It Nears DEX Listings
Pepe Unchained raises $13M in a top ICO, aiming to tackle Ethereum’s slow speeds and high fees with a memecoin Layer-2... Read more