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MyShell’s native token, SHELL, leaps to a new all-time high after Binance announces an airdrop event ahead of the token’s listing on Feb. 27.
According to a recent notice, Binance has prepared an airdrop event through Binance HODLer for users ahead of its SHELL listing. Binance users who have BNB (BNB) subscribed to Simple Earn and/or On-Chain Yields products from Feb. 14 until Feb. 18 will receive SHELL tokens from the Binance airdrop event.
The airdrop is scheduled to take place on Feb. 27, around one hour before trading starts. MyShell’s native token will be officially listed on Binance starting from Feb. 27 at 13:00 UTC. Trading support will be available for SHELL and Bitcoin (BTC), Tether (USDT), USD Coin (USDC), Binance Coin, First Digital USD (FDUSD), and Try.Finance trading pairs.
Shortly after the Binance listing announcement, SHELL reached a new all-time high of $0.68 after surging more than 35% in the past 24 hours of trading. At press time, SHELL is trading hands at a price of $0.65, going up over 30%.
In the past week, SHELL has gone up by nearly 60% and has gone up by 36% in the past hour. MyShell’s token has a market cap of $175 million and a fully diluted valuation of $650 million.
SHELL’s token distribution
Having just launched in February 2025, Binance is adding the seed tag to SHELL. The seed tag is usually applied to newer projects to alert users of a potentially higher trading risk compared to more established tokens on the exchange. SHELL will be available for trading on the Ethereum (ETH) network and BNB Chain.
Binance has prepared 25 million SHELL tokens for the HODLer Airdrop event, which is around 2.5% of the genesis total token supply. There will be 270 million SHELL circulating on Binance upon listing. There will be a second airdrop event at the end of the third month with the same amount of tokens allocated.
According to MyShell’s tokenomics, 30% of the token supply has been allocated for community incentive, 29% has been allocated to a private sell event with a one year cliff and a 3-year unlocking period. In addition, 1% has been allocated for the Binance Wallet airdrop alongside the 5% set aside for the Binance HODLer airdrop.
SHELL is a governance token that powers the MyShell ecosystem, granting holders access to the platform’s premium features, enables creator support and is used to facilitate payments.
This article first appeared at crypto.news
