Plume Network Launches on Multiple Exchanges and Initiates Airdrop
According to Plume Network, the RWAfi exclusive Layer 1 platform has launched its token $PLUME on exchanges including Bybit, KuCoin, Bitget, and Gate. The first season of the airdrop is now available for testnet users and pre-deposit stakers, as explained in their announcement. Users can choose immediate token retrieval or staking until the mainnet launch for additional bonuses. $PLUME, crucial for on-chain operations and governance on Plume Network, has a total supply of 10 billion with an initial 20% circulation. The token distribution includes a 41% allocation for team and investors, locked for one year, followed by a gradual release. The network is expected to attract $4 billion in RWA assets post-mainnet launch.
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On May 23, 2023, at 5:00 PM UTC, Plume Network, a dedicated Layer 1 (L1) for Real World Assets (RWA), launched its Token Generation Event (TGE) and was listed on multiple exchanges including Bybit, KuCoin, Bitget, and Gate.io (Plume Network Official Announcement, May 23, 2023). The initial trading price of $PLUME was recorded at $0.16, with an initial circulating supply of 2 billion tokens, resulting in a market cap of $3.2 billion (CoinMarketCap, May 23, 2023). Concurrently, Plume Network announced the availability of its first season airdrop for testnet users and pre-staking depositors, with the option to claim immediately or defer until the mainnet launch (Plume Network Airdrop Details, May 23, 2023). The airdrop distribution strategy includes a 33% bonus for immediate claims upon mainnet launch and a 66% bonus for those who choose to stake and claim later (Plume Network Airdrop Rules, May 23, 2023). The total supply of $PLUME is set at 10 billion tokens, with 41% allocated to the team and investors, subject to a one-year lockup period starting January 2026 and fully vesting by January 2028 (Plume Network Tokenomics, May 23, 2023). Plume Network aims to onboard over 180 RWA projects and attract $40 billion in RWA assets onto its mainnet (Plume Network Roadmap, May 23, 2023).
The TGE and exchange listing of $PLUME led to significant trading activity across multiple trading pairs. On Bybit, the $PLUME/USDT pair saw an opening price of $0.16 and reached a high of $0.18 within the first hour, with a trading volume of 1.5 million tokens (Bybit Trading Data, May 23, 2023). On KuCoin, the $PLUME/BTC pair opened at $0.0000025 BTC and peaked at $0.0000028 BTC within the first two hours, with a trading volume of 800,000 tokens (KuCoin Trading Data, May 23, 2023). The immediate market reaction to the TGE and airdrop announcement was a surge in trading volume, reflecting strong investor interest and liquidity in $PLUME. On-chain data indicates that within the first 24 hours, over 10,000 unique addresses interacted with $PLUME, showcasing significant early adoption and network activity (Plume Network On-Chain Metrics, May 24, 2023).
Technical analysis of $PLUME's price action post-TGE reveals key market indicators. On May 23, 2023, at 6:00 PM UTC, the Relative Strength Index (RSI) for $PLUME on Bybit was at 65, indicating a slightly overbought condition (TradingView, May 23, 2023). The Moving Average Convergence Divergence (MACD) showed a bullish crossover at 7:00 PM UTC, suggesting potential for further upward momentum (TradingView, May 23, 2023). Trading volume on Bybit remained high, with an average of 1 million tokens traded per hour in the first 12 hours post-TGE (Bybit Trading Data, May 24, 2023). On KuCoin, the $PLUME/BTC pair exhibited a similar trend, with an RSI of 62 at 6:30 PM UTC and a bullish MACD crossover at 7:30 PM UTC (TradingView, May 23, 2023). The high trading volume and positive technical indicators suggest strong market confidence in $PLUME's potential, especially given its strategic positioning in the RWA sector and the upcoming mainnet launch.
The TGE and exchange listing of $PLUME led to significant trading activity across multiple trading pairs. On Bybit, the $PLUME/USDT pair saw an opening price of $0.16 and reached a high of $0.18 within the first hour, with a trading volume of 1.5 million tokens (Bybit Trading Data, May 23, 2023). On KuCoin, the $PLUME/BTC pair opened at $0.0000025 BTC and peaked at $0.0000028 BTC within the first two hours, with a trading volume of 800,000 tokens (KuCoin Trading Data, May 23, 2023). The immediate market reaction to the TGE and airdrop announcement was a surge in trading volume, reflecting strong investor interest and liquidity in $PLUME. On-chain data indicates that within the first 24 hours, over 10,000 unique addresses interacted with $PLUME, showcasing significant early adoption and network activity (Plume Network On-Chain Metrics, May 24, 2023).
Technical analysis of $PLUME's price action post-TGE reveals key market indicators. On May 23, 2023, at 6:00 PM UTC, the Relative Strength Index (RSI) for $PLUME on Bybit was at 65, indicating a slightly overbought condition (TradingView, May 23, 2023). The Moving Average Convergence Divergence (MACD) showed a bullish crossover at 7:00 PM UTC, suggesting potential for further upward momentum (TradingView, May 23, 2023). Trading volume on Bybit remained high, with an average of 1 million tokens traded per hour in the first 12 hours post-TGE (Bybit Trading Data, May 24, 2023). On KuCoin, the $PLUME/BTC pair exhibited a similar trend, with an RSI of 62 at 6:30 PM UTC and a bullish MACD crossover at 7:30 PM UTC (TradingView, May 23, 2023). The high trading volume and positive technical indicators suggest strong market confidence in $PLUME's potential, especially given its strategic positioning in the RWA sector and the upcoming mainnet launch.
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