GRASS Token Soars to $3 Billion Valuation

After the underperformance of airdropped tokens such as BLAST, EIGEN, and ZK, traders and farmers considered an airdrop to signal the impending death of a token, but the GRASS airdrop is proving otherwise.

Grass, a network for sharing internet bandwidth, airdropped users its GRASS token on October 28 at a roughly $700 million valuation. Since its launch, GRASS has rallied four-fold to a fully diluted valuation of $3 billion, leaving many airdrop naysayers in shock.

The initial airdrop distributed 10% of the total GRASS supply to early Grass node runners, community members, and NFT holders.

Grass allows users to earn rewards by sharing excess internet bandwidth with the rest of the network. It is “certified by industry-leading cybersecurity organizations like AppEsteem, ensuring your data and privacy are protected through world-class security standards,” according to its documentation.

One user known as Top Tick Crypto summed up GRASS’s outperformance, saying, “EIGEN launch flopping was brutal, especially because it shook everyone out of GRASS pulling the TIA airdrop fractal,” referring to Celestia’s 1000% post-airdrop rally in Q4 2023.