Runestone NFT Prices Dive 55% After Meme Coin Airdrop

Following the snapshot for an airdrop of meme coins, the floor price of the Runestone NFT collection has plummeted by 55% to 0.033 BTC ($2,168). Despite the drop, holders are eligible for three airdrops, one of which has already been completed. The collection's all-time high floor price was reached on April 11th at 0.095114 BTC ($6,250).

Runestone NFT Floor Price Plummets by 55% Post Meme Coin Airdrop

[City, Date] - The floor price of the highly anticipated Runestone non-fungible token (NFT) collection experienced a dramatic decline of 55%, reaching a mere 0.033 BTC following the snapshot taken at Bitcoin block 840,269 for the distribution of a meme coin airdrop to Runestone holders.

According to data provided by CoinGecko, the floor price of the NFT collection nosedived significantly within a 24-hour period, currently standing at 0.033 BTC, equivalent to approximately $2,168. Simultaneously, the 24-hour trading volume of the collection also faced a significant 55% drop, settling at 2.63 BTC.

The Runestone NFT collection had witnessed its all-time high floor price on April 11, when the Bitcoin-based digital collectibles collection reached an impressive price of 0.095114 BTC, roughly $6,250. As of April 22, CoinGecko data indicates that the total number of minted Runestone NFTs stands at 112,400, held by 75,540 unique owners, while the overall market capitalization of the collection has reached $244,562,012.

In response to concerns raised by the digital asset community regarding the post-snapshot crash of the NFTs' floor price, Leonidas, the creator of Runestone, took to social media platform X to address the issue. Leonidas emphasized that "inevitably some low IQ folks will complain that the floor of Runestone drops after this snapshot" but asserted that this "is obviously an irrational take."

"You should think of the value of a Runestone as the total value you received from it after the moment you were airdropped it or bought it," Leonidas explained.

Leonidas further highlighted that Runestone NFT holders are entitled to a total of three airdrops, one of which has already been distributed. The creator urged holders to consider the "total value of DOG and all other airdrops to Runestone holders when calculating the total value of the original Runestone airdrop."

Despite the recent downturn in the floor price of the Runestone NFTs, the digital asset community remains cautiously optimistic about the long-term prospects of the collection. The airdrop distribution of additional meme coins and potential future developments within the Runestone ecosystem could play a role in shaping the trajectory of the collection's value in the months and years to come.