More than $21 million in Bitcoin (BTC) was unstaked from the Bitcoin staking protocol, Babylon, as early adopters claimed 600 million BABY tokens with the platform’s latest airdrop.
Today (April 4) Bitcoin developer Mononaut shared that over the past 24 hours, 256 BTC had been unstaked from the Babylon platform. Mononaut said that the unstaking transactions paid a combined 1.35 BTC in fees while consuming around a third of an entire Bitcoin block.
there is still at least 49,572 BTC staked with Babylon, across 128,305 utxos.
fully unstaking all of these coins will cost 47.44 BTC in fees and consume 41.058 MvB of blockspace. https://t.co/OGNBbhU8lw
— mononaut (@mononautical) April 4, 2025
Bitcoin Unstaking Comes After Babylon Users Receive 600 Million BABY Tokens Via Airdrop
The huge Bitcoin unstaking followed Babylon’s 600 million airdrop of its native token, BABY. It was distributed to early users and contributors of its Bitcoin staking platform.
Fisher Yu, the Babylon co-founder, took to X, saying that unlike on Ethereum and Solana, Bitcoin staking does not reward stakers in the chain’s native asset. Rather, they chose to issue rewards in the form of its native BABY token, weighted against the staked Bitcoin on the platform.
Yesterday (April 3), the Babylon Foundation released the much-anticipated details of its airdrop program for early contributors. The foundation said the airdrop would prioritize its Phase 1 stakers, non-fungible token (NFT) holders, and developers contributing to its ecosystem.
The staking protocol said it was airdropping 600 million BABY tokens, equating to 6% of its total supply. Additionally, 30 million BABY was allocated to the protocol’s Pioneer Pass NFT holder,s and 5 million BABY were set aside for open-source contributors.
The rest of the tokens were distributed among eligible stakers who participated in the protocol’s Phase 1. This included a stake participation airdrop of 30 million BABY, a base staking reward airdrop of 335 million BABY and a bonus staking reward airdrop for Phase 2 of 200 million tokens.
The Babylon tokenomics guide is now live. Explore the role, utility, and distribution of BABY.
Read the full blog: https://t.co/3McmEssct8 pic.twitter.com/lihOma428I— Babylon Foundation (@bbn_foundation) April 3, 2025
BABY Already Receiving Tier 1 Exchange Listings
In response to the airdrop news, leading crypto exchange OKX listed the BABY token and USDT pair in pre-market futures. Pre-market futures allow traders to speculate on an asset’s future price.
This allows investors to trade futures before the asset becomes available in spot markets. Right now, BABY is trading at around $0.065 on OKX.
With 10 billion BABY in circulation for its launch, its current market cap is around $650 million, which would make it the 109th largest cryptocurrency by market cap.
As of right now, there is no live trading for Babylon’s native token on spot, meaning the OKX futures data is all we have until spot pairs go live.
Blockchain analytics platform DefiLlama shows that Babylon still has a total value locked (TVL) of $4.36 billion, making the recent $21 million unstaking a mere drop in the ocean. Babylon’s impressive TVL represents 80% of the Bitcoin ecosystem’s overall TVL of $5.34 billion.
BONUS: BTC Bull (BTCBULL) Presale Closes In On $4.5m Funding As Holders Eagerly Await Bitcoin Airdrops
BTC Bull (BTCBULL) is fast becoming the go-to meme coin play as Q2 begins. This is partly due to its amazing branding, which features a jacked Bitcoin-themed bull, the perfect symbol of hope as investors eagerly await new Bitcoin highs.
Aside from its branding, BTCBULL has just secured $4.4m in presale funding, mostly due to its upcoming Bitcoin airdrops. For every pre-set milestone Bitcoin hits, the BTC Bull team will airdrop native BTC to its holders straight into their wallets.
The team’s first target is $150,000. Once $150k is in the bag, BTCBULL holders will receive BTC airdrop rewards weighted according to their token holdings. Each BTC airdrop will occur at each $50,000 interval from $150k, meaning the next will be at $200k, $250k, and so on.
The BTC Bull project is a niche, standing as a meme coin that appeals to the large Bitcoin maxi crowd. By offering BTC airdrops and token burns (beginning at $125,000) for each significant Bitcoin price milestone, BTCBULL is an ideal beta play for those looking for maximum Bitcoin exposure.
The BTCBULL presale also includes a staking protocol, with over 95% APY on offer for those who wish to earn some passive income from their bag.
Stay connected with the BTC Bull Token community on X and Telegram for the latest updates.
Visit the BTC Bull Token Website to Learn More
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Babylon Finance is a Bitcoin staking protocol that just saw $21m in BTC unstaked following its BABY airdrop
- Users of Babylon began unstaking after claiming 600 million BABY tokens
- BABY is the native token of the Babylon platform and is trading on pre-futures for around $0.065 on OKX
- Babylon still holds over $4 billion TVL, accounting for over 80% of the total TVL on Bitcoin
- BTC Bull (BTCBULL) presale sees a surge in funding as it secures $4.4 million. Investors are stacking BTCBULL to maximize the upcoming BTC airdrops
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