CoinMarketCap announces token launch platform with Aster airdrop.
CoinMarketCap introduces CMC Launch, a pre-TGE platform, starting with the airdrop of Aster's AST token. CMC Launch aims to connect high-quality projects, before their tokenization, with its 70 million monthly users. Aster, backed by YZi Labs, focuses on non-custodial trading, minting, and staking on BNB Chain and Arbitrum.
After CoinMarketCap concludes the AST airdrop, it will continue to seek high-quality crypto projects that have not yet launched a token. CMC Launch could prove quite popular among the platform's monthly audience of 70 million.
In the crypto industry, CoinMarketCap is practically a household name in blockchain data and analysis. Today, however, it is expanding with CMC Launch, a new platform for pre-TGE crypto assets.
Essentially, this means that CoinMarketCap has now entered an increasingly competitive and crowded market with popular players like Pump.fun, PancakeSwap's SpringBoard, and more recently, Raydium's LaunchLab.
CoinMarketCap is not the first data analysis platform to expand in this way; Arkham Intelligence launched its own perpetual futures exchange last year. Although Aster is also a perpetual exchange, there is currently nothing to suggest that it is entering into a long-term partnership with CoinMarketCap.
According to CoinMarketCap's press release, Aster was chosen as the first project of CMC Launch for several reasons. Backed by YZi Labs, an independent spin-off of Binance, Aster aims to reinvent the perpetual exchange ecosystem with non-custodial trading, minting, staking, robust infrastructure, and more.
