The upcoming Linea airdrop will likely be the biggest crypto news of the week as Linea’s token becomes publicly traded.
Linea, a zero-knowledge platform owned by ConsenSys, has become one of the fastest-growing players in the crypto industry. DeFi Llama data shows that it has attracted 144 developers to the decentralized finance industry.
Linea has a total value locked of over $1.69 billion, much higher than the year-to-date low of $174 million. Most of this growth happened after Aave (AAVE) joined. Aave’s TVL jumped by 3,670% in the last 30 days to $831 million.
Linea has also slowly become one of the top players in the decentralized exchange industry, with its 24-hour volume jumping to over $82 million. Additionally, the stablecoin supply has risen by 116% in the last seven days to $295 million.
Linea will have its token generation event, or airdrop, on Wednesday this week, allowing its token to be traded. OKX, one of the top crypto exchanges, has been among the earliest to confirm its listing.
Polymarket users expect the Linea airdrop to be highly successful. A poll shows that 98% of users expect its fully diluted valuation to be over $1 billion. The odds of it crossing the $2 billion milestone has risen to 56%.
It is difficult to predict whether the Linea token price will jump or fall after the airdrop. However, a closer look at some of the most recent airdrops provides a good roadmap of what may happen.
The most likely scenario is that the Linea price will rise initially and then pull back as some of the initial buyers and airdrop recipients sell.
A good example of this is what happened last week when Donald Trump’s World Liberty Finance (WLFI) token launched. It initially surged to $0.3200 and then plunged by 50% four days later.
Similarly, Berachain (BERA) token jumped to $8.5 after its airdrop in February and then fell by 45% a few days later. Kaito (KAITO) price peaked at $2.9 after launch and then started a pullback to its all-time low of $0.677 in April.
However, some tokens have gone parabolic after their airdrop, and Linea may do the same. The most recent example is Somnia, whose token has jumped by 335% from its lowest point.
