CoinDesk reported:
“Based on current market prices, the Celestia airdrop is estimated to distribute about $120 million in on-chain value, targeting users in the Cosmos (ATOM) and Ethereum (ETH) layer 2 ecosystems,” Sean Farrell, an analyst at FundStrat, wrote in a note to subscribers on Tuesday. “This could either stimulate on-chain activity or flow into related assets, benefitting asset prices.”