Why is the price of ERA rising today?
Summary
Caldera (ERA) increased by 99% in 24 hours due to major listings on exchanges and demand driven by airdrops.
Listings on Upbit (+60% impact) and Coinbase increased accessibility and credibility.
The 27th Airdrop for HODLers on Binance distributed 20M of ERA to BNB holders, creating buying pressure.
7% of airdrop supply to community members amplified speculative interest.
Deep Dive
1. Main Catalyst: Listings on top-tier exchanges
Upbit (the largest exchange in South Korea) included ERA on July 17, leading to a price increase of 60% (Coinlive).
Coinbase added ERA with an "experimental" label, attracting US traders despite volatility warnings (Coinbase Assets).
Binance Futures launched a 75x leverage for ERA, amplifying trading volume by 1,908% to $1.3 billion.
2. Supporting Factors: Airdrop Mechanics
20M ERA (2% of supply) distributed through the Binance HODLer Airdrop to BNB stakers (window from July 1 to July 5), locking in demand (Binance).
The community airdrop of 70M ERA (7% of supply) (claimable until August 1) reflects successful strategies of layer 2 tokens like Arbitrum.
3. Market Dynamics: Altcoin Momentum
The Altcoin Season Index increased by 42.86% weekly, favoring high-beta tokens like ERA.
14.85% of the circulating supply (ERA of 148.5 million) creates a scarcity narrative, with 85.15% locked until it unlocks in the future.
For informational purposes only, do your own research.
