Airdrop tokens are under the spotlight as Kadena (KDA), Huma Finance (HUMA), and Sophon (SOPH) face volatile market reactions following their recent distributions.
Kadena kicked off a Galxe campaign with a $55,000 prize pool but remains down 14.4% in the last week. HUMA has dropped over 51% in just three days after its Season 1 airdrop, despite strong investor backing. Meanwhile, SOPH plunged 33% within 24 hours of launch due to a massive token unlock and continues to test key support levels amid high leverage and limited utility.
Kadena (KDA)
Kadena leads the list of top crypto airdrops for the final week of May, raising over $35 million with backing from major investors like Multicoin Capital, CoinFund, and SV Angel.
The project, a Layer 1 Proof-of-Work blockchain focused on scalability, launched a confirmed airdrop campaign through Galxe with a 100,000 KDA prize pool—valued at around $55,000.
Users can participate by completing tasks such as connecting wallets, joining social channels, or holding KDA tokens. The campaign runs until August 24, offering a strong incentive for community engagement and ecosystem growth.
KDA Price Analysis. Source: TradingView.
Despite the airdrop buzz, Kadena’s price has struggled, down 14.4% over the past seven days and currently trading below $0.60.
If the current downtrend continues, KDA could fall toward support at $0.507.
However, if sentiment shifts and buying pressure returns, the token may retest resistance at $0.54, with further upside potential toward $0.621 and $0.677.
Huma Finance (HUMA)
Huma Finance recently unveiled its full tokenomics and Season 1 airdrop details, allocating 5% of the total 10 billion HUMA token supply to early users.
Backed by major investors like Circle and HashKey Capital, Huma is positioning itself as a first mover in the emerging PayFi sector. It aims to merge instant payments with DeFi and real-world assets.
Despite raising over $46 million and planning a second airdrop of 2.1% post-TGE, the project faced criticism for its relatively low initial airdrop allocation.
HUMA Price Analysis. Source: TradingView.
The team insists this is just the beginning, but market engagement has been modest, signaling shifting user preferences toward newer airdrop models.
Since the airdrop, HUMA has plunged more than 51% in just three days, reflecting a lack of buying support following the airdrop. If the current downtrend continues, the price could fall below $0.0503, testing new lows.
However, if sentiment shifts and the token finds support, it could rebound to challenge resistance at $0.055. A stronger rally could even push HUMA up toward $0.0596, though sustained momentum would be needed to reverse the early bearish pressure.
Sophon (SOPH)
Sophon’s SOPH token dropped over 33% within 24 hours of its debut and Binance listing, primarily due to the sudden release of 900 million airdropped tokens.
Despite strong backing—including over $70 million in funding and support from Binance Labs—the token’s limited immediate utility and the overwhelming supply shock triggered a sharp sell-off.
SOPH Price Analysis. Source: TradingView.
Adding to the volatility, Binance assigned SOPH a “seed tag” and enabled futures trading with up to 75x leverage, amplifying price swings.
SOPH is now hovering near a key support level at $0.056, which may be tested soon if pressure continues. Should the token regain bullish momentum, it could challenge resistance at $0.059.
A strong uptrend could push SOPH further to $0.061, $0.064, and possibly $0.067.
Read the full article here
