GRASS Airdrop Issues Overshadow Launch — Token Still Enters Top 300

Key Takeaways

• The GRASS airdrop on Oct. 28 encountered numerous issues.
• GRASS trades just below $0.90 and is ranked 282 based on its market cap.
• What happened during the airdrop, and what’s next for the price?

Grass is a Layer-2 platform on Solana that allows users to share their internet bandwidth to train artificial intelligence models through a browser extension.

The token launched on Oct. 28 and currently ranks 282 based on market capitalization.

Let’s analyze the issues surrounding the GRASS airdrop and its outlook.

What is the GRASS Aidrop?

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.

Some users have also reported that the system flags transactions as unsafe .

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.