Base's Official Token Launch Turns into a Marketing Rollercoaster, MEME Coins Crash and Soar to New …
In the early hours of April 17, Base made a high-profile move by creating MEME coins such as "Base is for everyone." However, this carefully orchestrated attempt to reignite on-chain cultural enthusiasm quickly spiraled out of control, pushing Base into the eye of a public storm. Yet, in a surprising twist, as the "failures" were remixed and turned into viral memes, the MEME coin prices staged a dramatic V-shaped recovery, sending on-chain sentiment on a rollercoaster ride. Author: Nancy, PAN...
5 Charts to Decode Today’s Bitcoin Market: Where Exactly Are We?
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Trump's Crypto Gamble: A Power Play of Politics, Money, and Technology
On March 6, 2025, U.S. President Donald Trump signed a landmark executive order announcing the establishment of a strategic Bitcoin reserve and the inclusion of other cryptocurrencies in the national digital asset reserve. This policy marks a significant strategic shift for the U.S. in the cryptocurrency space, aiming to solidify its position as the "global hub of cryptocurrency."Policy Content and DetailsTrump's executive order consists of two main components: the establishment of a Bitcoin ...
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One of the Largest Airdrops in History? An In-Depth Look at the Opportunities and Concerns Behind the MetaMask Token
ConsenSys CEO has announced the impending launch of the MetaMask token, potentially making it one of the largest airdrops in history. This article analyzes its potential and risks from multiple perspectives.
MetaMask Adoption
Personally, I've moved away from MetaMask, preferring Rabby's interface and features. However, MetaMask retains its first-mover advantage. It remains the most popular wallet with 143 million users.
MetaMask Revenue Analysis
MetaMask has multiple revenue streams:
* MetaMask Swap: The built-in DEX aggregator charges approximately a 0.9% fee per swap.
* Fiat On-Ramp/Off-Ramp: Buying crypto using bank cards.
* Bridge: Cross-chain token transfers.
* Staking: Direct ETH staking via MetaMask Portfolio.
* Institutional Version: MetaMask Institutional solutions for funds and enterprises.
Over the past three months, MetaMask's weekly transaction volume has ranged between $60 million and $200 million. This translates to an average weekly revenue of about $1.5 million, or roughly $72 million annually. Last year's figures were higher, with weekly revenue around $2.5 million, resulting in an annual revenue of $120 million. Bridge revenue adds about $10,000 daily, or $3.6 million annually. Other revenue streams contribute approximately $10 million per year, bringing MetaMask's total annual revenue to around $120 million.
FDV Estimation
The tokenomics and specific utility of the MetaMask token are not yet clear. However, some form of revenue-sharing or buyback mechanism would not be surprising, which would drive valuation. For a reasonable Fully Diluted Valuation (FDV) to revenue multiple, we can look at other wallet tokens like TWT, SFP, XDEFI, and GNO. Under a conservative estimate, the FDV/Revenue ratio could reach 100x. Based on the current annual revenue of approximately $1.2 billion, this suggests a potential FDV nearing $12 billion. Compared to Trust Wallet, the second most-used wallet, whose token TWT has an FDV of $1.32 billion, it's hard to imagine the MetaMask token launching with an FDV below $5 billion.
Potentially the Largest Airdrop Ever
The current largest airdrops include Uniswap, ApeCoin, dYdX, and Arbitrum. The MetaMask airdrop has strong potential to join or even surpass this top tier. Assuming an FDV of $12 billion and a 20% airdrop to users, the total distributed value could reach $2.4 billion, easily placing it among the top three airdrops. Despite the huge total value, it would be distributed across over 140 million users. The uniqueness of this airdrop lies in its massive eligible user base, which amplifies both the total value and the reach. The large user base, consistent revenue, clear utility, and the quadrennial market hype could make this a historic airdrop.
How to Play the MetaMask Token Launch?
The usual advice is to maximize airdrop eligibility, but if you haven't been active, it might be too late, especially given the CEO's hint of an imminent mainnet launch. One current strategy is pre-market purchasing; the MetaMask token is expected to list soon on platforms like Whales Market. I will be watching the pre-listing FDV closely: if the opening valuation is below $5 billion, early buying might be attractive, though extreme volatility is expected. MetaMask might also launch token incentive programs, such as mUSD liquidity pools, staking opportunities, or trading rewards, which could be good ways to farm the token early with high APY. Given the vast number of potential token recipients, the first 24 hours post-airdrop will likely see extreme volatility, creating significant arbitrage opportunities across CEXs and DEXs.
Concerns After the LINEA Missteps
ConsenSys launched LINEA a few weeks ago but made some significant missteps. The TGE involved technical issues, including distribution delays and network congestion. The token's actual utility remains unclear, and whale dumping occurred immediately after the airdrop. Many complained that Binance Alpha users received faster, more favorable access compared to the wider community. I hope ConsenSys learns from these previous mistakes and avoids repeating them with MetaMask, particularly ensuring that Binance Alpha or insiders don't get earlier token access or listing information than the core MetaMask user base.
ConsenSys CEO has announced the impending launch of the MetaMask token, potentially making it one of the largest airdrops in history. This article analyzes its potential and risks from multiple perspectives.
MetaMask Adoption
Personally, I've moved away from MetaMask, preferring Rabby's interface and features. However, MetaMask retains its first-mover advantage. It remains the most popular wallet with 143 million users.
MetaMask Revenue Analysis
MetaMask has multiple revenue streams:
* MetaMask Swap: The built-in DEX aggregator charges approximately a 0.9% fee per swap.
* Fiat On-Ramp/Off-Ramp: Buying crypto using bank cards.
* Bridge: Cross-chain token transfers.
* Staking: Direct ETH staking via MetaMask Portfolio.
* Institutional Version: MetaMask Institutional solutions for funds and enterprises.
Over the past three months, MetaMask's weekly transaction volume has ranged between $60 million and $200 million. This translates to an average weekly revenue of about $1.5 million, or roughly $72 million annually. Last year's figures were higher, with weekly revenue around $2.5 million, resulting in an annual revenue of $120 million. Bridge revenue adds about $10,000 daily, or $3.6 million annually. Other revenue streams contribute approximately $10 million per year, bringing MetaMask's total annual revenue to around $120 million.
FDV Estimation
The tokenomics and specific utility of the MetaMask token are not yet clear. However, some form of revenue-sharing or buyback mechanism would not be surprising, which would drive valuation. For a reasonable Fully Diluted Valuation (FDV) to revenue multiple, we can look at other wallet tokens like TWT, SFP, XDEFI, and GNO. Under a conservative estimate, the FDV/Revenue ratio could reach 100x. Based on the current annual revenue of approximately $1.2 billion, this suggests a potential FDV nearing $12 billion. Compared to Trust Wallet, the second most-used wallet, whose token TWT has an FDV of $1.32 billion, it's hard to imagine the MetaMask token launching with an FDV below $5 billion.
Potentially the Largest Airdrop Ever
The current largest airdrops include Uniswap, ApeCoin, dYdX, and Arbitrum. The MetaMask airdrop has strong potential to join or even surpass this top tier. Assuming an FDV of $12 billion and a 20% airdrop to users, the total distributed value could reach $2.4 billion, easily placing it among the top three airdrops. Despite the huge total value, it would be distributed across over 140 million users. The uniqueness of this airdrop lies in its massive eligible user base, which amplifies both the total value and the reach. The large user base, consistent revenue, clear utility, and the quadrennial market hype could make this a historic airdrop.
How to Play the MetaMask Token Launch?
The usual advice is to maximize airdrop eligibility, but if you haven't been active, it might be too late, especially given the CEO's hint of an imminent mainnet launch. One current strategy is pre-market purchasing; the MetaMask token is expected to list soon on platforms like Whales Market. I will be watching the pre-listing FDV closely: if the opening valuation is below $5 billion, early buying might be attractive, though extreme volatility is expected. MetaMask might also launch token incentive programs, such as mUSD liquidity pools, staking opportunities, or trading rewards, which could be good ways to farm the token early with high APY. Given the vast number of potential token recipients, the first 24 hours post-airdrop will likely see extreme volatility, creating significant arbitrage opportunities across CEXs and DEXs.
Concerns After the LINEA Missteps
ConsenSys launched LINEA a few weeks ago but made some significant missteps. The TGE involved technical issues, including distribution delays and network congestion. The token's actual utility remains unclear, and whale dumping occurred immediately after the airdrop. Many complained that Binance Alpha users received faster, more favorable access compared to the wider community. I hope ConsenSys learns from these previous mistakes and avoids repeating them with MetaMask, particularly ensuring that Binance Alpha or insiders don't get earlier token access or listing information than the core MetaMask user base.
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One of the Largest Airdrops in History? An In-Depth Look at the Opportunities and Concerns Behind the MetaMask Token
Base's Official Token Launch Turns into a Marketing Rollercoaster, MEME Coins Crash and Soar to New …
In the early hours of April 17, Base made a high-profile move by creating MEME coins such as "Base is for everyone." However, this carefully orchestrated attempt to reignite on-chain cultural enthusiasm quickly spiraled out of control, pushing Base into the eye of a public storm. Yet, in a surprising twist, as the "failures" were remixed and turned into viral memes, the MEME coin prices staged a dramatic V-shaped recovery, sending on-chain sentiment on a rollercoaster ride. Author: Nancy, PAN...
5 Charts to Decode Today’s Bitcoin Market: Where Exactly Are We?
$ERROR
Trump's Crypto Gamble: A Power Play of Politics, Money, and Technology
On March 6, 2025, U.S. President Donald Trump signed a landmark executive order announcing the establishment of a strategic Bitcoin reserve and the inclusion of other cryptocurrencies in the national digital asset reserve. This policy marks a significant strategic shift for the U.S. in the cryptocurrency space, aiming to solidify its position as the "global hub of cryptocurrency."Policy Content and DetailsTrump's executive order consists of two main components: the establishment of a Bitcoin ...
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