Research Summary

The report covers a range of updates in the blockchain and cryptocurrency space, including the launch of Wormhole’s airdrop query functionality, a significant decline in Ethereum NFTs, a surge in Telegram bot activity, and other project updates from Saga, Binance, Worldcoin, Uniswap, Optimism Foundation, Frax, and Jito Labs.

Key Takeaways

Wormhole’s Airdrop Query Functionality

  • Launch of Airdrop Query: Wormhole has introduced an airdrop query feature to determine user eligibility based on on-chain activities. The airdrop will allocate 6.17% of Wormhole token W, with a total of 397,704 wallet addresses receiving the airdrop.
  • Market Value: The current lowest selling price for the Wormhole token W is $1.5 USD, implying an initial market value of $26.9 billion USD and a $15 billion USD fully diluted valuation (FDV).

Saga’s Airdrop

  • Genesis Drop: Web3 game developer protocol Saga has launched its community Genesis Drop, attracting over 200,000 users. Eligible addresses can apply for up to 60 million SAGA tokens, accounting for 6% of the total supply.

Binance’s 48th Launchpool Project

  • AEVO Launch: Binance has announced the launch of the 48th phase of its Launchpool project, AEVO (AEVO). Users can stake BNB and FDUSD on the Launchpad website to earn AEVO rewards.

Worldcoin’s Regulatory Challenges

  • Spanish Regulatory Authority: The Spanish data protection regulatory agency, AEPD, has demanded that Worldcoin immediately cease collecting personal information in the country and stop using the data it has already collected.
  • Korean Personal Information Commission: The Korean Personal Information Commission plans to investigate Worldcoin’s data collection practices.

Ethereum NFTs Decline

  • Price Drop: Due to the significant increase in the price of ETH, Ethereum NFTs have experienced a noticeable decline when priced in ETH recently. Blue-chip NFTs such as Bored Ape Yacht Club (BAYC), Pudgy Penguins, Mutant Ape Yacht Club (MAYC), and Azuki have all dropped by over 20% in the past week.

Actionable Insights

  • Monitor Wormhole’s Airdrop: Stakeholders should keep an eye on the impact of Wormhole’s airdrop query functionality on the market value of the Wormhole token W.
  • Assess Saga’s Airdrop Impact: The impact of Saga’s Genesis Drop on the distribution and value of SAGA tokens should be assessed.
  • Track Binance’s AEVO Launch: The launch of Binance’s 48th Launchpool project, AEVO, should be tracked to understand its impact on the BNB and FDUSD staking.
  • Understand Worldcoin’s Regulatory Challenges: The regulatory challenges faced by Worldcoin in Spain and Korea should be understood to assess potential risks and implications for data collection practices in the blockchain industry.
  • Study Ethereum NFTs Decline: The decline in Ethereum NFTs should be studied to understand the correlation between the price of ETH and the value of NFTs.

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