Binance has listed the Redacted token on its Alpha project, but the result diverged from the investors’ expectations as the RDAC token price crashed 50%. The RDAC token has officially gone live with an airdrop today, May 13, 202,5, at 10:00 UTC. Interestingly, many other crypto exchanges, like Bitget, MEXC, and others, have also listed the token, which is usually bullish, but the price performance is bearish. Why? Let’s discuss.
RDAC Token Price Crashed 50% With Overbuying
A listing on popular crypto exchanges like Binance brings additional credibility and visibility to the token. As a result, its value often moves upward, but things change in the case of the RDAC token price.
Notably, the price crashed 50% in the last hour after hitting an ATH at $0.1018. CoinGecko data reveals that RDAC presently trades at $0.04979 with a market capitalization of $9.81M.
This happened as the investors jumped on the buying in anticipation of further rallies, pushing the Redcated token into the overbuying zone, hence the price crash. Technical factors reveal that the RSI is above 78 as the FOMO is taking over the investors.
Additionally, the Binance airdrop is another factor to consider. Most crypto airdrops bring high volatility due to the movement of tokens and sellers’ activity, resulting in a crash.
How to Claim the Binance RDAC Token Airdrop?
The official Binance announcement reveals that users who have at least 205 Alpha points are eligible for the RDAC token airdrop. The users with 205 Alpha would receive 482 Redacted tokens, claims starting at 10:00 UTC. Interestingly, the users with 170-204 Alpha points and UID (Binance account UID) ending with 7 can claim a lucky airdrop for the 482 tokens.
Notably, these airdropped tokens should be claimed within the first 24 hours of claim opening, as they would expire after that. To claim the Binance airdrop, the users will have to spend 15 Alpha points.
A narrow claim window is affecting the RDAC token price. Experts remain divided on its further performance due to airdrop influence volatility, low liquidity, and token movements, and suggest that investors must remain cautious for some time.
The post RDAC Token Price Crashed 50% After Binance Airdrop & Listing, Here’s Why appeared first on CoinGape.
