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Solana NFT Marketplace Tensor's Token Debuts to $640 Million in Trading Volume🎉
Airdrop season continues to dominate the crypto industry, and today is no different with the arrival of Tensor’s token launch. The Solana NFT marketplace launched its TNSR token, with more than $200 million worth of tokens up for grabs via airdrop rewards and over$640 million worth of trading volume on the market in the seven hours or so since it launched.
TNSR is currently priced at $1.60 per token, according to data from CoinMarketCap, down 33% from a high of $2.45. Newly launched tokens are typically known for their fluctuating values, so this isn't unusual.
On the other hand, new tokens sometimes notch varying starting price points depending on the data source you use, since the markets are so volatile at the start. CoinGecko, for example, shows a starting price of $1.19, and reports that the token has spiked 36% since then.
Similar to BLUR on Ethereum, Tensor introduced a rewards initiative, split through seasons 1 to 4, dating back to March 4, when Season 1 dropped. At the end of each season, participants received loot boxes, essential for creating a Tensorian NFT. Holders were rewarded for holding and staking the NFT.
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