ELIZAOS Airdrop Begins on Binance Alpha as Users Claim Rewards

Binance Alpha Points Unlock Big ELIZAOS Airdrop Rewards for Users

Why are all these traders now talking about the ELIZAOS Airdrop? Finally, the much-awaited ELIZAOS rewards have been given away by Binance Alpha, for which thousands of users flocked to claim their share.

Source: X (formerly Twitter) 

This airdrop has quickly become the main highlight of the day, both because of the free tokens themselves and because of the excitement it has brought to a busy crypto market.

Even with the struggling price, traders seem to want to know what the rewards mean, how claiming works, and if this could shape ELIZAOS over the next few weeks.

How the ELIZAOS Airdrop Rewards Work

• It is available to all Binance Alpha users who have scored at least 240 Alpha Points. 

• Anyone who has this score can claim 4,375 tokens first-come, first-served. 

• If people don't claim fast enough, the system gradually lowers the score requirement by 5 points every 5 minutes until all rewards are taken. 

• Claiming the reward requires 15 Alpha Points, and users confirm the claim on the Alpha Events page within 24 hours. 

• If a user fails to confirm it within this time, the system assumes they have given up their reward. 

This makes it competitive, and quick participation is therefore encouraged. As soon as the announcement went live, many flocked in, resulting in high waves of activity and heavy on-chain action.

Why the Market Reacted with Selling Pressure

The token failed to hold onto its earlier support zones soon after the rewards went live. The token fell upwards of 26% in the last 24 hours, a much larger drop than the overall crypto market.

Source: CMC 

There are three main reasons for this decline:

1. Airdrop Selling:

Many of the users who claimed the ELIZAOS Airdrop sold their tokens immediately after the airdrop to lock in quick profits. When thousands of tokens suddenly came into circulation, buyers couldn't keep pace with the new supply.

2. Migration Dilution:

Continued migration from AI16Z into the ELIZAOS at a 1:6 ratio increased supply by about 66%. While major exchanges finished the swap earlier in the month, the sell orders left over from the migration continue to weigh on the price.

3. Technical Weakness:

Recently, ELIZAOS price dropped under the 7-day SMA and the pivot level of $0.00807. The token's RSI is 29 which suggests that it is going through the phase of being oversold, but there are no signs of strong rebound. The volume is still quite high; however, the bulk of it consists of selling rather than new interest.

What Traders Watch Next

Despite the market being under pressure, traders are looking at the next significant level. Nowadays, the key psychological support is right next to $0.005. If it holds above this level, then the market might gradually recover as the pressure from the airdrop selling eases.

The Generative Treasury's potential buybacks for the purpose of liquidity enhancement remains a concern for some traders.

Conclusion

The ELIZAOS Airdrop has brought immense activity, excitement, and swift reactions from the community. As the supply expands and the pressure to sell is high, the price in the short term looks weak, but the token's further path will be guided by demand, market confidence, and how well the ecosystem absorbs the new supply.

For now, it remains the biggest headline, giving users the chance to earn rewards as the market is working out these fast changes.