Refund Coin Price Rallies Over 190% After Token Airdrop Goes Live

Key Takeaways:

Refund Coin launched the token airdrop of its native token.
RFD price rallied 191% after the airdrop went live.

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NEW DELHI (CoinChapter.com) — Blockchain project Refund announced the launch of its RFD token airdrop on May 25. The resulting network activity helped boost the RFD coin price.

Refund is a blockchain project claiming the backing of crypto whale Blurr.eth, rumored to have a net worth in nine figures. The project claims Blurr conceived the project as a “daring game theory experiment,” aiming to give back to the crypto community.

RFD price has declined from its initial ATH. Source: CoinMarketCap

The Refund coin airdrop helped the RFD token price rally 191% from May 25’s daily low of 0.0001239 to form a high near $0.00036 before bears paired gains.

Despite the rally, the RFD coin price remained nearly 71% down from its May 23 all-time high of $0.0007845, highlighting the token’s high volatility.

Per the Refund Coin’s Twitter page, 18 exchanges have listed the RFD token, including BitMart, CoinEx, BigONE, BitForex, MEXC Global, Bitget, LBank, Poloniex Exchange, etc.

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Interestingly, the token has found endorsements from several crypto influencers. Jack Liu, one of the influencers shilling the RLD coin, called the project “a mission that transcends our individual efforts.” Moreover, he called on his followers to spread the word about the Refund token.

Refund Coin: Obscure Tokenomics, Blurry Use Case

Although the Refund project propagates the crypto movement passionately, the RLD token is, in essence, a memecoin. The RLD coin’s tokenomics remain obscure, with the project only sharing the total supply on its website.

RLD coin tokenomics say nothing about token distribution.

The RLD coin has a 1 trillion token supply, with 0% taxes. The project has nearly 9,600 token holders, with the Refund airdrop likely increasing the numbers. At least till the recipients dump their token holdings.

Moreover, the RLD token’s top 10 wallets account for nearly a quarter of the circulating supply, which puts the project’s decentralization claims into question. Additionally, though Refund claims to be different from other projects, it is glaringly unclear on its use cases, except for bestowing “ generosity upon the community.”