Solana’s hottest new pothead meme coin, Slothana ($SLOTH), has concluded an eye-watering $15 million presale with the announcement of an airdrop in lower than 24 hours, on Might 1, based on the mission’s official X web page. 

The official announcement hints that members (those who paid for the token through the presale) will likely be paid out, or “blessed” with their $SLOTH tokens “ranging from this auspicious hour.” 

The crew counsels persistence when the airdrop window opens, reassuring prospects that the mission’s “guardians work on the speediest of Slothful paces to make sure all obtain their tokens in good time.”

Given the relative shortage of knowledge surrounding the mission, it’s price unpacking how Slothana rapidly grew to become one of many high launches on Slothana this 12 months. 

The Slothana ICO: $15 Million Raised In One Month

Slothana’s month-long ICO ended yesterday after attracting a sweltering $15 million in investments. 

The presale’s staggering success was largely resulting from auspicious timing, along with a rising urge for food for meme cash that supply a special species of guffaws to the gamut of Dogecoin copycats at present vying for supremacy within the sector. 

To start with, the mission has its roots firmly in counterculture. From the clock fingers on the wall studying 4:20 to the hazed pink eyes, Slothana started life by overtly signaling its allegiance to the legions of potheads around the globe. 

Following the weekend of the worldwide stoner vacation, April 20, which can also be the day Dogecoin lovers chosen to rejoice their favourite coin, Slothana’s presale takings leapt from $10 million to $15 million. 

With crypto’s success this 12 months intently tied to the information cycle, it’s price mentioning two extra value driving occasions which have Slothana holders banking on some heady post-launch rallies on the horizon. 

The Bitcoin Halving And Ethereum ETF Information Profit Slothana

Funnily sufficient, on Slothana’s favourite day this 12 months, April 20, a pre-programmed quadrennial Bitcoin software program replace referred to as “the halving” slashed mining rewards from 6.25 BTC per block to three.125. Miners now have to mine twice as laborious as they did earlier than the replace to get the identical rewards.

Since miners promote new BTC onto the open market, this has successfully halved the issuance of recent provide. Now, with Bitcoin setting new all-time highs this 12 months, many analysts are hinting at additional positive factors inbound, thanks exactly to this provide shock. 

Historic precedent is on their facet. The previous three halvings resulted in vital rallies properly inside a 12 months of the replace. 

The place Bitcoin goes, the remainder of the market follows. Nearly each main cryptocurrency tracks the worth actions of Bitcoin, with late February/early March accounting for the steepest positive factors thus far this 12 months throughout many initiatives. Bitcoin set a brand new excessive watermark of $73,737.94 on March 14.

A further value driver got here from the truth that Bitcoin grew to become a multi-billion greenback funding product within the US this 12 months due to the January launch of 11 spot Bitcoin ETFs. 

Now, analysts recommend that spot Ethereum ETFs are coming subsequent, on Might 23 – the SEC’s first deadline to return a verdict on the most recent spherical of spot Ethereum ETFs. 

Given the truth that a federal court docket overturned the SEC’s earlier refusal of Bitcoin ETFs as “arbitrary and capricious” it’s possible that related spot Ethereum funding merchandise will move by means of unopposed. 

That would foment some explosive rallies throughout not solely Ethereum, but additionally competitor Layer 1 blockchains deploying high-functionality sensible contracts, like Solana, Slothana’s native blockchain. 

So, the $SLOTH presale window could also be over, however there will likely be loads of alternatives to affix crypto’s funniest and most subversive new meme coin crowd after the airdrop. 

? Sustain-to-date on Slothana’s X account.

Go to Slothana’s official web site right here.  

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