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Just-In: Binance To Airdrop BTC, ETH And SHIB Worth $500K To Users, But There’s A Catch

Binance plans to airdrop crypto worth $500,000, ranging from 1 SHIB to 1 BTC as part of the strategy to promote Web3 Wallet use.
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Just-In: Binance To Airdrop BTC, ETH And SHIB Worth $500K To Users, But There’s A Catch

The world’s largest crypto exchange Binance on Tuesday said it will airdrop crypto worth $500,000 in total. The latest announcement came in response to promoting the use of its newly launched Web3 Wallet amid the crypto market rally.

Binance’s Web3 Wallet is a self-custody crypto wallet built within the Binance app allowing users to swap thousands of tokens across various networks, explore decentralized applications (dApps), transfer funds between exchange and wallet, and earn yield on their crypto.

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Binance Offering SHIB and BTC Airdrop Worth $500,000

Crypto exchange Binance took to X on December 5 to announce a plan to airdrop crypto worth $500,000, ranging from 1 SHIB to 1 BTC. This means a user can get BTC, ETH, BNB, SHIB, and other cryptocurrencies from $0.00000936 to $42,000.

To become eligible for the airdrop, users need to make a swap using their Web3 Wallet. The airdrop event is valid until December 31, 2023.

Notably, the airdrop is supported by its partner projects for supporting the airdrop. There are Maverick Protocol, GMX, Gala Games, Radiant Capital, DODO, Kava Chain, Acala Network, CyberConnect, Chiliz, Alchemy Pay, Lido Finance, QuickSwap, Sei Network, WOOFI, and BinaryX.

The announcement caught the attention of the crypto community, with many seeking rewards in this bull season as the crypto market cap attains the $1.5 trillion milestone in 6 weeks.

Also Read: BitMEX Announces Terra Classic (LUNC) Perpetual Contract Listing After USTC

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Binance Aims For Liquidity

Amid the crypto market rally when investors are holding onto their crypto holdings, liquidity becomes an issue for crypto exchanges. With Binance recording billions of cumulative trading volumes, it has launched several activities such as zero-fee trading.

CoinGape reported zero-fee trading for Ethereum (ETH), XRP, BNB, Solana (SOL), Dogecoin (DOGE), and Chainlink (LINK) in FDUSD spot and margin pairs. The exchange also launched one-hour interest fee waiver for BTC, DOGE, ETH, GALA, GMT, LINK, MATIC, ORDI, SEI, SOL, TIA and XRP pairs.

Also Read: Ripple CTO David Schwartz Criticizes SEC’s ‘Shocking’ Conduct In Debt Box Case

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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