The Grass crypto token has emerged as one of the top performers among airdrops, strengthening its presence in the crypto market. Following its debut, the token's price surged by 2405%, drawing significant attention to this project.
Success of Grass Airdrop
Following the Grass airdrop, the token reached an intraday high of $3.9587, a 2405% surge from its starting level. The success of this airdrop can be linked to the allocation of 10% of the token supply, with around 100,000 users receiving 100 GRASS tokens for downloading the extension.
Grass Network Features
Grass token's strong performance is also attributed to the introduction of staking, which covered 35% of all tokens. The annual percentage yield (APY) is about 50%, significantly higher than most other tokens such as Ethereum and Solana, which yield less than 6%.
Technical Analysis of GRASS
The hourly chart shows the GRASS token on a steady bullish trend. However, there is a risk of a pullback. The token has formed a bearish engulfing pattern and a rising wedge. The Relative Strength Index (RSI) and MACD are at overbought levels.
Despite impressive performance, analysts warn of a potential correction for GRASS prices. Nevertheless, robust staking rewards could drive further growth in the long term.
