Solstice token drops over 40% on launch day as airdrop recipients sell SLX

Solstice’s SLX token lost more than 40% of its value within hours of going live on May 25, as airdrop claimers flooded the market with sell orders during the Solana-based protocol’s token generation event (TGE). The token opened trading on Binance Alpha at 12:00 UTC with a fully diluted valuation near $230 million, according to...