The world’s largest crypto exchange Binance on Tuesday said it will airdrop crypto worth $500,000 in total. The latest announcement came in response to promoting the use of its newly launched Web3 Wallet amid the crypto market rally.

Binance’s Web3 Wallet is a self-custody crypto wallet built within the Binance app allowing users to swap thousands of tokens across various networks, explore decentralized applications (dApps), transfer funds between exchange and wallet, and earn yield on their crypto.

Binance Offering SHIB and BTC Airdrop Worth $500,000

Crypto exchange Binance took to X on December 5 to announce a plan to airdrop crypto worth $500,000, ranging from 1 SHIB to 1 BTC. This means a user can get BTC, ETH, BNB, SHIB, and other cryptocurrencies from $0.00000936 to $42,000.

To become eligible for the airdrop, users need to make a swap using their Web3 Wallet. The airdrop event is valid until December 31, 2023.

Notably, the airdrop is supported by its partner projects for supporting the airdrop. There are Maverick Protocol, GMX, Gala Games, Radiant Capital, DODO, Kava Chain, Acala Network, CyberConnect, Chiliz, Alchemy Pay, Lido Finance, QuickSwap, Sei Network, WOOFI, and BinaryX.

The announcement caught the attention of the crypto community, with many seeking rewards in this bull season as the crypto market cap attains the $1.5 trillion milestone in 6 weeks.

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Binance Aims For Liquidity

Amid the crypto market rally when investors are holding onto their crypto holdings, liquidity becomes an issue for crypto exchanges. With Binance recording billions of cumulative trading volumes, it has launched several activities such as zero-fee trading.

CoinGape reported zero-fee trading for Ethereum (ETH), XRP, BNB, Solana (SOL), Dogecoin (DOGE), and Chainlink (LINK) in FDUSD spot and margin pairs. The exchange also launched one-hour interest fee waiver for BTC, DOGE, ETH, GALA, GMT, LINK, MATIC, ORDI, SEI, SOL, TIA and XRP pairs.

Also Read: Ripple CTO David Schwartz Criticizes SEC’s ‘Shocking’ Conduct In Debt Box Case

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.