MyShell’s native token, SHELL, has soared to a new all-time high after Binance confirmed an upcoming airdrop event ahead of the token’s official listing on Feb. 27.
Binance Prepares Airdrop for SHELL Holders
In a recent announcement, Binance revealed plans for an airdrop event through Binance HODLer, aimed at rewarding users ahead of the SHELL listing. Binance users who subscribed to Simple Earn and/or On-Chain Yields products between Feb. 14 and Feb. 18 with BNB holdings are eligible to receive SHELL tokens from the airdrop.
The airdrop is set to take place on Feb. 27, approximately one hour before SHELL trading begins. MyShell’s token will officially be listed on Binance at 13:00 UTC, with trading support for multiple pairs, including Bitcoin (BTC), Tether (USDT), USD Coin (USDC), Binance Coin (BNB), First Digital USD (FDUSD), and Try.Finance.
SHELL Reaches New Price Milestone
Following Binance’s listing announcement, SHELL surged over 35% in 24 hours, reaching a new all-time high of $0.68. As of press time, the token is trading at $0.65, marking a 30% increase. Over the past week, SHELL has gained nearly 60%, reflecting strong investor interest ahead of its Binance debut. The token now boasts a market capitalization of $175 million, with a fully diluted valuation of $650 million.
Tokenomics and Distribution
Binance has assigned the “Seed Tag” to SHELL, indicating that it is a relatively new and high-risk asset compared to more established cryptocurrencies. SHELL will be available for trading on both the Ethereum (ETH) network and BNB Chain.
Binance has allocated 25 million SHELL tokens for its HODLer airdrop event, representing 2.5% of the genesis total token supply. At the time of listing, 270 million SHELL tokens will be in circulation on Binance. A second airdrop event of the same size is scheduled for the end of the third month post-listing.
According to MyShell’s tokenomics, 30% of the total supply is designated for community incentives, while 29% was allocated for a private sale event featuring a one-year cliff and a three-year unlocking period. Additionally, 1% of the supply has been allocated for the Binance Wallet airdrop, with 5% reserved for the Binance HODLer airdrop.
SHELL’s Role in the MyShell Ecosystem
SHELL is a governance token powering the MyShell ecosystem. Holders gain access to premium platform features, support creators, and facilitate payments within the ecosystem. With its recent surge and Binance listing, SHELL is poised to become a key player in the expanding MyShell network.
As the Binance listing date approaches, SHELL’s performance continues to attract attention, with market analysts closely monitoring its price action and adoption trajectory.
