RDAC Token Price Crashed 50% After Binance Airdrop & Listing, Here’s Why

Binance has listed the Redacted token on its Alpha project, but the result diverged from the investors’ expectations as the RDAC token price crashed 50%. The RDAC token has officially gone live with an airdrop today, May 13, 202,5, at 10:00 UTC. Interestingly, many other crypto exchanges, like Bitget, MEXC, and others, have also listed the token, which is usually bullish, but the price performance is bearish. Why? Let’s discuss. RDAC Token Price Crashed 50% With Overbuying A listing on popular crypto exchanges like Binance brings additional credibility and visibility to the token. As a result, its value often moves upward, but things change in the case of the RDAC token price. Notably, the price crashed 50% in the last hour after hitting an ATH at $0.1018. CoinGecko data reveals that RDAC presently trades at $0.04979 with a market capitalization of $9.81M. This happened as the investors jumped on the buying in anticipation of further rallies, pushing the Redcated token into the overbuying zone, hence the price crash. Technical factors reveal that the RSI is above 78 as the FOMO is taking over the investors. Additionally, the Binance airdrop is another factor to consider. Most crypto airdrops bring high volatility due to the movement of tokens and sellers’ activity, resulting in a crash. How to Claim the Binance RDAC Token Airdrop? The official Binance announcement reveals that users who have at least 205 Alpha points are eligible for the RDAC token airdrop. The users with 205 Alpha would receive 482 Redacted tokens, claims starting at 10:00 UTC. Interestingly, the users with 170-204 Alpha points and UID (Binance account UID) ending with 7 can claim a lucky airdrop for the 482 tokens. Notably, these airdropped tokens should be claimed within the first 24 hours of claim opening, as they would expire after that. To claim the Binance airdrop, the users will have to spend 15 Alpha points. A narrow claim window is affecting the RDAC token price. Experts remain divided on its further performance due to airdrop influence volatility, low liquidity, and token movements, and suggest that investors must remain cautious for some time. Frequently Asked Questions (FAQs) The RDAC token price crashed due to overbuying of the token as the investors rushed in to buy under FOMO due to the Binance listing. The user with at least 205 Alpha points are eligible for the RDAC airdop. There’s also lucky airdrop for the users with 170-204 Alpha points.. Experts warn investors to take caution around this token as there is high volatility and limited information on performance. ✓ Share: Pooja Khardia With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market. As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss. Source: https://coingape.com/trending/rdac-token-price-crashed-50-after-binance-airdrop-listing-heres-why/