Key Notes
- Rivals can share a prize pool of 16 million OL tokens.
- The competitors will final two weeks, ending on June 22.
- The airdrop announcement introduced a pointy selloff for the OL token.
Binance, the biggest crypto exchange by buying and selling quantity, featured Open Loot, a Web3 gaming market, on Binance Alpha, an unique buying and selling platform.
The main trade announced that customers with 233 Binance Alpha factors are eligible to assert 1,836 Open Loot (OL) tokens, presently price $82. The airdrop, which began at 06:00 UTC on June 8, will eat 15 factors.
We’re happy to announce that Open Loot (OL) has been featured on Binance Alpha.
Eligible Binance customers with a minimum of 233 Binance Alpha factors can declare an airdrop of 1,836 OL tokens on the Alpha Occasions web page beginning at 6:00 UTC on June eighth, 2025.
Please be aware that claiming… pic.twitter.com/0oVRfa1yhw
— Binance (@binance) June 8, 2025
Binance Alpha brings early-stage tokens of initiatives anticipated to carry out nicely in the long run, before listing them on the primary trade.
The Large Prize
Binance additionally introduced a buying and selling competitors the place 10,000 customers can compete for a prize pool of 16 million OL tokens, price $800,000 on the time of the announcement.
In keeping with the announcement, customers can commerce OL tokens on Binance Pockets or Binance Alpha. Customers who commerce utilizing third-party decentralized applications and bridging are usually not eligible for the competitors.
Whereas Binance acknowledged that there isn't any restrict on how a lot to commerce, the trade additionally indicated that solely purchases contribute to the rating — promoting doesn't.
Rewards will likely be credited to Binance Alpha accounts by July 6, 2025, 16:00 (UTC).
OL token witnessed a sudden wave of selloffs following the airdrop and buying and selling competitors announcement from Binance. OL is down 15.3% prior to now 24 hours and is buying and selling at $0.044 on the time of writing.
At this level, the competitors’s prize pool of 16 million OL tokens is price roughly $700,000.
Disclaimer: Coinspeaker is dedicated to offering unbiased and clear reporting. This text goals to ship correct and well timed info however shouldn't be taken as monetary or funding recommendation. Since market situations can change quickly, we encourage you to confirm info by yourself and seek the advice of with knowledgeable earlier than making any selections based mostly on this content material.
Wahid has been analyzing and reporting on the newest developments within the decentralized ecosystem since 2019. He has over 4,000 articles to his title and his work has been featured on a few of the main retailers together with Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Aside from reporting, Wahid likes to attach the dots between DeFi and macro on his e-newsletter, On-chain Monk.
