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.

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