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The decentralized physical infrastructure network (DePIN) project Grass, based on Solana 
$176, gained significant attention following the recent GRASS token airdrop. The governance token GRASS experienced an impressive increase of 125% within three days after its launch.
Factors Behind GRASS Price Surge
At the time of writing, the GRASS price traded at $1.82, reflecting a 60% increase, with a market capitalization reaching $450 million and daily trading volume exceeding $400 million. This surge positioned GRASS among the week’s trending cryptocurrencies. Notably, the GRASS token airdrop marked the largest in the Solana ecosystem, with approximately 1.5 million addresses claiming this governance token.
Record Airdrop in the Solana Ecosystem
Before the distribution of the GRASS token, the popular decentralized exchange Jupiter held the record for the largest airdrop on Solana, with around 639,000 users claiming tokens. During the initial distribution of the GRASS token, a disruption occurred in Solana’s largest wallet, Phantom.
Project and Token Details
Over 2.8 million wallets were eligible to claim GRASS tokens during the designated period. One of the main reasons for the price surge is the growing anticipation for listings on Tier-1 exchanges. Additionally, according to Coinglass data, open interest in futures for the governance token rose by 73% to $90.33 million, while daily trading volume for GRASS futures increased by 146% to $1.30 billion.
More Information About Solana-Based DePIN Project Grass
Grass is a unique DePIN project that conducts web scanning at internet scale to collect and validate data for training AI bots. Millions of users received GRASS tokens as rewards while downloading the browser extension and mobile application. Andrej Radonjic, CEO of Wynd Labs, remarked on the project’s significance:
“Historically, your bandwidth was exploited by companies secretly adding software to your applications. Today marks the first day users gain network ownership by sharing their bandwidth.”
Market Trends and Factors Supporting GRASS Token Growth
The GRASS token has recorded impressive growth due to various recent market shifts. Contributing factors include:
The success achieved post-launch signals positive indicators regarding the project’s sustainability and growth potential. Built on solid foundations and aligned with market dynamics, this strategy may positively influence future performance. Users are likely to continue closely following the development of the GRASS token.
