ZORA Airdrop Causes Confusion as No Official Claim Site Is Provided

The rollout caused confusion, as no official claim site was provided. Users had to check their allocations manually through the smart contract.

Zora’s airdrop was officially launched today, distributing tokens to early users based on two snapshot periods. However, the rollout caused confusion as no official claim site or checker was provided.

Instead, users had to check their allocations manually through the smart contract, and they're now discussing it in the community.

While 10% of the total 10 billion supply was reserved for early adopters, the decision to allocate 65% of tokens to insiders (team, treasury, and contributors) is still being questioned by some.

Since Base chain began promoting the idea of Content Coins, activity on Zora has noticeably increased. The number of newly created coins has remained above 20,000 since April 17, reaching nearly 28,000 yesterday.

At the same time, unique creators on the platform grew from 3,683 on April 16 to 6,206 by April 22.

This demonstrates that the initiative is gaining traction, but it's still in the early stages, with questions remaining around its long-term sustainability and utility.

Content Coin Narrative Boosts Zora Usage

Zora’s trading volume in USDC surged sharply with the rise of the Content Coin narrative, hitting $30 million on April 16 and peaking at $31 million on April 17.

This initial spike displayed a strong wave of early interest and speculative momentum around the new use case for content on-chain.

The increase coincided with Base’s push to promote content coins as a fresh alternative to traditional meme tokens, attracting attention from creators and traders alike.

However, despite the number of coins created continuing to climb, Zora’s volume fell significantly to just $9 million by April 22.

This divergence suggests that while more users are experimenting with the platform—launching and minting coins—actual trading activity has not kept pace.

The drop in volume may indicate fading speculative interest, uncertainty around the airdrop, or early profit-taking following the initial hype.

Zora's Price Drops Around 50%

ZORA’s price experienced a sharp selloff immediately following its airdrop, dropping roughly 50% within the first two hours of launch.

Such volatility is not uncommon for newly airdropped tokens, as early recipients often rush to secure profits, adding intense short-term selling pressure.

The price is now trying to recover, attempting to stabilize and build upward momentum. If it can break above the $0.023 level, it may move to test resistance at $0.0289, with a potential extension toward $0.034 if buying strength returns.

However, this recovery remains uncertain. If ZORA fails to hold current levels and bullish momentum fades, it may retest support at $0.019.

A break below that could lead to further downside, with the next key level around $0.0165.

Overall, the market is still reacting to the airdrop and the overall token distribution.