The price of Solana (SOL) has successfully managed to rally over 50% within this month of April 2021. This has been possible owing to the new projects being conducted by airdrops through SOL blockchain. In addition, the extremely high fees of Ethereum are pushing the investors towards cheaper alternatives.
During the last 6 months, the blockchain projects which has released token airdrops made a comeback. The most noteworthy among them is MEME and Uniswap of airdrops. These will be marked as beneficiaries with profits ranging between $20,000 and $600,000 merely due to the reason of holding these tokens.
Airdrops Projects Drive-Up Solana Price
Solana is the only competitor of Ethereum that has launched numerous projects with the support of airdrops during the past 3 weeks. SOL is a project of open-source that mainly emphasizes using blockchain technology. This will help in providing much decentralized finance (DeFi) solutions.
In the meantime, Solana is not outwardly making any strong attempt to introduce the projects. SERUM (SRM) is the leading decentralized exchange of the protocol. SRM is also responsible for the latest COPE airdrop that has distributed almost 2,000 tokens among the users that have participated in this collaborative DeFi hackathon conducted by Serum and Solana.
Following the airdrop, eventually, COPE has listed on SRM on 30th March for $0.50 along with the token price increasing to a high mark by touching $5.43 on 11th April. This has greatly rewarded their holders with a reward of $10,860.
The COPE success has led to a massive 55% rise in SOL price since the beginning of April. New users have added successful lifeblood to the blockchain network. Analysts have predicted a continued rise in airdrop use and subsequent success.