On Tuesday, Feb. 29, two much-anticipated launches were scheduled, unlocking billions of dollars worth of liquidity in the midst of an already-hot crypto market.
Portalcoin’s gaming token, $PORTAL, opened claims and trading—including listing on Binance—early today.
Although the token had traded as high as $4 in allocations selling pre-market, at the time of this writing, $PORTAL is trading at $2.57, with a market cap of $437 million.
The time has come.
As we begin to welcome new holders into our community, we can’t wait to reveal everything we’ve built. This is just the beginning, day 1.
Game on! pic.twitter.com/q3uh3LPMXI
— Portal (@Portalcoin) February 29, 2024
Blast_L2’s mainnet also goes live today, kicking off at 1 pm PST. With over $2.3 billion total value locked on the protocol, according to DeFiLlama, and loads of protocols, NFT projects, and meme tokens in the works, activity on their bridge has been frenetic.
Already, people are reporting major windfalls from their presale investments in $PORTAL. “Our $124,000 got us $5,300,000 worth of $PORTAL. We did it, fellas,” said CirrusNFT.
“The speed and size of return on this is pretty incredible. Even for crypto. Even for this banger of a bull market we are in,” replied analyst Sam Gellman.
$Portal, which is built to be a universal gaming token, can be claimed here for presale buyers and here for those who participated in Crystal Dash, the token’s wildly visible airdrop farming campaign on social media.
Meanwhile, people are still rushing to bridge ETH onto Blast, with unconfirmed claims that people have found a way to bridge onto the mainnet before it’s officially live and are already launching meme coins on the network.
Today’s Blast launch happens against the backdrop of the first major rug pull in its ecosystem: Risk on Blast, a gambling protocol that raised over $1.35 million but withdrew the presale funds and disappeared from social media. Tokenomics of their native $BLAST and a timetable for the unlock of airdrops have not yet been announced.
The rugged token had been featured on Blast_L2’s official social media on Feb. 13, lending the protocol an air of legitimacy.
The timing for the launches of $Portal and Blast mainnet could not be more fortuitous, with an intense influx of liquidity into crypto—fuelled mainly by major retail interest in Bitcoin ETFs.
At the time of writing, Bitcoin’s price was nearly $63,500, with Ethereum at almost $3500.
The net inflow of funds into Bitcoin spot ETFs—over $6 billion—could indicate that there is now a broader demand for Bitcoin and crypto in general.
Other airdrops and unlocks are in the works for March, including Magic Eden’s Diamond drop for ETH “OGs.” This airdrop, scheduled for Mar. 13, will reward users of the Ethereum blockchain, looking all the way back to 2017.
The post Blast & Portalcoin Launches Offer Bull Market Liquidity Influx appeared first on nft now.