1ATH.Studio Altcoin Weekly

Airdrop Mayhem Week

1ATH.Studio
3 min readJun 16, 2024

We look at the top stories in a week that saw a much awaited airdrop event causing chaos in the altcoin world.

Major Airdrop Alert: zkSync Era’s ZK Token Distribution

The developers of Ethereum layer-2 solutions zkSync Era and the ZK Stack are gearing up to airdrop their new token, ZK. In an exciting move, two-thirds of these tokens will be allocated for community distribution.

Specifically, 17.5% of the tokens are set aside for an airdrop targeting 695,232 wallets. According to Matter Labs in a recent blog post, this represents the largest distribution of tokens to users among major Layer 2 solutions.

Michael Novogratz Backs Memecoins in Latest Post

In a recent post on X, Galaxy Digital CEO Michael Novogratz has reiterated his support for memecoins, highlighting their importance in the cryptocurrency sector.

In a Business Untitled video shared on June 13, Novogratz delved into the potential of memecoins for making substantial profits, describing them as “the most powerful narratives out there.”

Andrew Tate’s DADDY Coin Surpasses Iggy Azalea’s MOTHER Token

Andrew Tate’s promoted meme coin, DADDY, has overtaken MOTHER, the token created by Australian rapper Iggy Azalea, according to DEX Screener. This achievement marks a significant milestone for Tate, the former kickboxer, who had set this goal when he first promoted the token.

Known for his controversial views, Tate has been actively tweeting about DADDY, pledging to never sell his holdings. He later burnt his total stash which is 40% of the total supply.

zkSync Faces Backlash After ZK Token Airdrop Announcement

zkSync is under fire following their recent ZK token airdrop announcement. The community has raised several concerns, including the lack of anti-Sybil filtering and perceived unfair distribution. Notably, some long-term users reported receiving fewer tokens than newer accounts, sparking frustration and disappointment among loyal supporters.

Binance Co-Founder Criticizes Elon Musk’s X.com Over Memecoin Scams

Elon Musk’s X.com is under fire from Binance co-founder Yi He for not doing enough to prevent cryptocurrency memecoin scams on the platform. Yi He brought attention to the issue by sharing images of accounts impersonating her handle (@heyibinance) and name

Meme of the Week:

MEME: #zksync Devs watching the #Community on fire

Top Altcoin Gainers and Losers of the Week

Altcoin of the Week

io.net — IO

Coinlaunch — io.net is a decentralized AI computing and cloud platform that allows computing power providers to contribute to the network and receive rewards in $IO tokens while allowing machine learning startups to consume those resources.

It is powered by the native $IO token, which acts as a main currency for payments within the network, rewarding node runners, providing users with access to the platform’s DAO, staking and delegating the tokens to NoOps.

Price — $5.47

Market Cap $519,995,753

Fully Diluted Valuation — $4,378,911,601

24 Hour Trading Vol — $482,006,969

Circulating Supply — 95,000,000

Total Supply — 800,000,000

Max Supply — 800,000,000

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