XAI drops 20% after airdrop and Binance listing
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After the Jan. 9 airdrop and Binance listing, the third-tier gaming token fell by more than 20%.
According to CoinGecko, the three-tier gaming token Xai is down more than 22% in 24-hour trading. The current price of the coin is $0.5231. The X exchange rate fell sharply just one day after reaching an all-time high on January 9 (when the coin was priced at $0.7734).
The token price plunge occurred shortly after Xai held its first major gaming token airdrop in 2024. According to the Xai Foundation, it is making 125 million XAI tokens (or 5% of the total token supply) available to eligible users, including holders of certain Xai NFTs and those whose operations help support the network. The person who is the gatekeeper node or validator.
The coin’s plunge may be related to the recent airdrop. At the time of the decline, the total market capitalization exceeded $154 million. After the airdrop, the coin’s market capitalization fell to the $70 million mark.
Along with the airdrop, Binance, the largest cryptocurrency exchange, listed the XAI token. XAI/FUSD trading is open to spot.
Xai is the first layer 3 blockchain designed specifically for AAA games. Using Arbitrum technology, Xai focuses on simplicity and ease of use, removing the complexity of wallet management and making blockchain integration a seamless part of the gaming ecosystem.
