The highly anticipated GRASS token airdrop went live on Oct. 28, but many issues hampered it.
With the rush to claim GRASS tokens, the Phantom wallet saw a nearly three-hour outage. Users have also experienced issues with eligibility, with several reporting that they are considered ineligible even though they have been farming.
One user was eligible for 1,200 tokens but did not receive any of the final airdrop. Additionally, he complained that the Discord admins disregarded the issues.
Despite its issues, GRASS has been listed on numerous futures platforms, such as OKX, Bitget, Kucoin, Bybit, and Gate. However, it is not yet listed on Binance.
GRASS has a fixed supply of $1 billion tokens, 100 million of which will be distributed in the first airdrop. 30% of the tokens will go to the community, 23% to the Foundation, 25% to investors, and 22% to contributors.
Investors have a one-year cliff and a one-year vesting period, while contributors have a one-year cliff and a three-year vesting period.
GRASS Price Prediction
The 15-minute GRASS chart shows that the price increased shortly after its launch, reaching a peak of $0.98 on Oct. 29. Since then, it has traded inside a symmetrical triangle, considered a neutral pattern.
However, an eventual breakout is likely since the pattern comes after an upward movement.
Moreover, the wave count suggests that GRASS is in an A-B-C corrective structure (white), where the triangle creates wave B. The sub-wave count is in black.
If the count is accurate, GRASS will soon break out from the triangle. Giving waves A:C a 1:1 ratio leads to a high of $1.17.
A breakdown from the triangle will invalidate this scenario. Then, the GRASS price could fall to $0.75.
Issues Overshadow Launch
While the GRASS airdrop was highly anticipated, issues with the Phantom wallet and user eligibility overshadowed the launch.
GRASS is one of the top 300 largest cryptocurrencies, and its price could break out of a triangle.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
