Binance’s HAEDAL Airdrop Sparks 60% Surge, Highlights Exchange’s Growing Influence in Crypto Market

• Binance’s HAEDAL airdrop has sparked a 60% rise in the token’s value since its launch, attracting high engagement.

• The HAEDAL token, first launched in April, is now listed on Binance, making it the first centralized exchange to do so.

• Binance is also hosting TGEs for ALLO and TGT, expanding its influence in the crypto market with airdrops and asset listings.

Binance’s HAEDAL airdrop boosts the token’s value by 60%, underlining the exchange’s dominance in the crypto market with strategic asset launches.

Binance’s HAEDAL Airdrop Draws Attention

Binance, the world’s largest crypto exchange, currently dominates the airdrop sector. Airdrop hunting recently drove Binance Alpha’s trading volume to $2.8 billion, and the firm shows no signs of slowing down.

Today, Binance is hosting an airdrop for Haedal, sparking a high level of engagement:

“Binance is excited to announce the 19th project on the HODLer Airdrops page – Haedal Protocol (HAEDAL), a liquid staking protocol built on Sui blockchain. Users who subscribed their BNB to Simple Earn (Flexible and/or Locked) and/or On-Chain Yields products will get the airdrop distribution,” Binance’s announcement claimed.

Haedal, a liquid staking platform for SUI, first launched its TGE nearly a month ago. The company rewards users for staking SUI, granting them haSUI tokens to gain DeFi liquidity while passively reaping rewards.

HAEDAL has previously been available on DEXs and other DeFi institutions, but Binance is the first major exchange to list it. Consequently, its value surged by over 60%.

HAEDAL Weekly Price Chart. Source: COINOTAG

Still, although Haedal’s value has grown considerably, there has been a little grumbling about Binance’s airdrop tokenomics. Several fan accounts criticized the high token allocation specifically directed towards Binance Alpha users.

However, these concerns mostly centered around the April TGE, and negative feedback has been much lower today.

Two More TGEs Listed on Binance

In addition to the Haedal airdrop, Binance is also engaging in two TGE events. The first, ALLO, concerns a financial asset tokenization firm.

Binance has recently shown heightened interest in the RWA sector, so this endeavor makes sense. The event will take place tomorrow, and eligible users will need to spend Binance Alpha points to participate.

Binance’s other TGE is for Tokyo Games Token, which is launching the TGT asset. This airdrop will take place today, following similar rules to the ALLO event.

Several exchanges are now listing TGT, but Binance Alpha is the first platform to feature it. TGT seeks to combine AAA gaming with the growing Web3 ecosystem.

Regardless of how these two assets perform, HAEDAL greatly benefited from the Binance airdrop. The exchange’s ability to boost young token projects with its platform and user base is evidently still sturdy.

Conclusion

In summary, Binance’s strategic moves, including the HAEDAL airdrop and the listing of new tokens, underline its significant impact on the crypto market. As engagement levels rise, the exchange remains a focal point for investors seeking opportunities in the evolving landscape of digital assets.