In summary:
PLUME price has dropped over 35% from its post-listing peak, currently trading around $0.14, leaving many airdrop recipients dissatisfied.
Unclear airdrop distribution with many users not receiving rewards casts a negative light on the project’s image.
Plume Network tokenizes over $4 billion of traditional assets and collaborates with over 180 partners in the real-world asset finance (RWAfi) sector.
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The Layer-1 blockchain for Real-World Assets (RWAs) – Plume Network (PLUME) – has officially launched on exchanges. However, the project’s airdrop campaign has left early participants dissatisfied for various reasons. PLUME’s price has also declined by over 35% since its post-listing high.
Below are BeInCrypto’s observations regarding predictions surrounding the future of this Layer-1 blockchain.
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Plume Network (PLUME) Drops Over 35% After Reaching Peak
According to BeInCrypto’s data, the price of PLUME on Bybit once surpassed $0.20, recording a fully diluted valuation (FDV) of over $2 billion. However, at the time of writing, the price has fallen by more than 35% and is currently trading around $0.14.
Compared to other recently listed projects, PLUME’s FDV is relatively high. While this might be expected to please airdrop investors,
According to BeInCrypto’s findings, several investors have experienced a loss of reward points (Miles) due to Plume Network’s ineffective user filtering process, especially given the large number of users. This has caused dissatisfaction, as many people put in effort to participate but did not receive the rewards they deserved.
“I have 2.3 million miles, 32 Gitcoin points, 23 stamps, Premium rank, Legendary NFT, and they still rejected me. When I asked on Discord, they kept beating around the bush and finally gave me a link to a form to fill out. This developer doesn’t provide any clear criteria, it’s all very unclear,” commented investor lemin.base.eth.
The project did not announce clear airdrop criteria, and early users who did not receive the airdrop were not given any explanation. Currently, these complaints within the community are creating negative sentiment toward Plume Network.
High Expectations for Plume Network (PLUME) in the New Context
According to Plume’s announcement, over 180 partners have joined Plume to utilize its infrastructure, including Arc for asset tokenization, Passport for smart wallets, Nexus for data integration, and SkyLink for interoperability. Additionally, names like Ondo, Royco, Elixir, and many other institutions are integrating with Plume.
Currently, the project claims to have tokenized over $4 billion worth of traditional assets onto the blockchain, including renewable energy projects, private credit, and niche products like GPUs and carbon credits.
“The PLUME token is currently at a fully diluted valuation (FDV) of $1.7 billion, which is $0.17 per token. This is a slight correction from the $2 billion FDV and almost a 100% increase from yesterday. Want to know what I think? Plume is the largest Layer-1 blockchain in the real-world asset finance (RWAfi) sector with over 180 protocols in the ecosystem. I believe the chances of Plume dropping below a $1 billion valuation are very low, and I expect at least a $2 billion FDV at mainnet launch,” predicted investor Carbz.
In Carbz’s view, with a total supply of over 10 billion, PLUME below $0.10 represents a good buying opportunity, and PLUME will reach a price of $0.20 or higher in the future
At the time of writing, the total value of on-chain RWAs continues to set new highs, surpassing $16.6 billion (excluding stablecoins), with the majority comprising private credit and US Treasury bonds. This is a sign that demand for RWAfi shows no signs of cooling down, especially with the new administration fostering a more favorable regulatory environment for the crypto market.
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