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Since Christmas Day, The Price Of OpenDAO’s Sos Token Has Dropped By 64%

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Despite a surge of partnerships and exchange listings, OpenDAO’s SOS airdrop last week has now lost steam, with the price more than half.

The unusual Christmas Eve airdrop of OpenDAO’s SOS currency has turned bearish.

According to CoinGecko, the ERC-20 token has dropped 64 percent after reaching an all-time high of $0.00001108 (fractions of a penny) one day after the airdrop.

The SOS token was distributed to each cryptocurrency user who spent money on the current No. 1 NFT marketplace OpenSea. So far, users have claimed almost 39 trillion tokens, accounting for nearly 80% of the total amount set aside for the airdrop.

The number of SOS tokens each individual received was determined by the amount of money they spent on OpenSea. So if you merely bought a random 8-bit piece of digital art, your compensation would be minimal. If, on the other hand, you invested in a CryptoPunk, you’d be SOS-rich (at least at its price peak).

Despite a slew of exchange listings and partnerships along the way, the coin has recently plunged. Soon after listing on OKEx, Huobi Global, and Gate, the project announced another collaboration with Treasureland, a cross-chain NFT platform. According to marketing materials, the agreement means that NFTs on Treasureland can be acquired using SOS, and “50 percent of the $SOS trading fees will be contributed to OpenDao for $SOS NFT ecological development.”

Another NFT-related platform, X, has also joined. The marketplace stated that SOS may be used as payment, and that customers who invest their SOS holdings will earn a quarter of X’s entire token supply over a four-year period. X’s token has yet to be released.