Friday, June 21, 2024

SOS token reaches peak market capitalization.

SOS token becomes a new token to reach a peak market capitalization. The recent reports declare that, in four days. If we look into the capitalization of SOS token then it has crossed the mark of quarter-billion dollars. As per the news, unclear goals, volatile market, and imminent security risks lead to price decline.

Also, as the interest and attention of users decline the price ultimately drops. As of now, it has a market capitalization of $207 million. This year on Christmas, all the traders in NFT woke up to the news of the airdrop of SOS tokens.

SOS token has been newly established by the governance of OpenDAO.

What are airdrops?

Airdrops are a method of token distribution under which crypto users have the power to perform certain actions to claim their tokens. In this case, Airdrop is for all Ethereum addresses which have undertaken or bought NFT on the marketplace of OpenSea. The only link between OpenSea and OpenDAO is that OpenDAO targets the user base with airdrop on OpenSea. To date, nearly 275,000 addresses have requested airdrops, with a median of $125 at the current price, according to the Dune Analytics dashboard.

Multiple experts after analyzing the situation warned that the road to success will be difficult as SOS was already seeing downfall.

Security Risks

Different ethereum companies have raised their voice by raising red flags on social media which is concerned with cyberattacks. Half of the tokens supplied is in hands of three addresses which is controlled by the core team.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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