From 0.024 to 0.03, why has SPACE become the hottest airdrop project recently?

SPACE briefly broke through 0.03 USDT, attracting market attention. According to the latest news, this DePIN project has been launched intensively on multiple exchanges, with airdrop values estimated between $30 and $100, attracting a large number of participants. However, behind the hype, the project also faces risk concerns.

The Driving Forces Behind Price Fluctuations

According to reports, SPACE briefly surged past 0.03 USDT and is now trading at 0.024 USDT, with a market cap of approximately $51.9 million. Data shows the current price is $0.058117, reflecting price changes at different times.

The key driving factors are the intensive exchange listings:

• Binance Alpha launched the SPACE airdrop on January 23, with eligible users able to claim tokens worth about $100
• OKX will list SPACE spot trading at 20:00 on January 23
• Binance Alpha estimates the airdrop value at $30-$60, with a score line around 230 points

These listing activities have created short-term market hype and explain the price volatility.

Project Fundamentals Overview

Project Attributes

SPACE (MicroVisionChain) is a DePIN project that uses low Earth orbit satellites to build decentralized internet infrastructure, providing low-cost global broadband access and data privacy protection. It has been trading since its launch on April 3, 2023.

Funding Background

According to reports, SPACE has raised $7 million, with a total supply of about 1 billion tokens (some sources mention 21 billion, possibly due to different calculation methods). In token distribution, community airdrops account for about 11%, with Season 1 airdrop of 5% fully unlocked at TGE, and Season 2 airdrop of 6% linearly unlocked over 3 months.

Market Data

24-hour trading volume is approximately $57,500, with an 18.76% decline over 7 days and a 49.76% decline over 30 days. This decline indicates a significant correction from the high point.

The Balance Between Hype and Risks

Why is the hype so high?

Multiple exchange listings, attractive airdrop values, and the popularity of the DePIN sector have combined to make SPACE a star project on Binance Alpha recently. Compared to other airdrops during the same period, the expected returns of $30-$100 are attractive to participants.

Signals to Watch Out For

According to discussions in reports, some market observers have issued risk warnings. Some comments point out that SPACE raised $20 million but only plans to raise $2.5 million, raising questions about the fundraising scale and allocation methods. Others mentioned that the project adopted a financing model similar to the previously controversial project TROVE.

These are not confirmed accusations but are worth understanding before making decisions.

Future Focus

The upcoming launch of OKX spot trading will be an important window to observe actual market demand. The selling pressure after airdrop unlocking, the project’s real-world application progress, and community governance development will all influence long-term performance.

Summary

The price breakthrough and rising hype of SPACE are mainly driven by exchange listings and the airdrop mechanism. As a participant in the DePIN sector, the project has some imagination space, but the history of its financing structure and market performance also suggests caution. Participating in airdrops is a low-risk way to profit, but for subsequent trading, it is recommended to make rational decisions based on your risk tolerance and avoid blindly chasing highs.