Investors Unstake $21M in Bitcoin After Babylon Token Airdrop
The Babylon protocol witnessed a surge in Bitcoin unstaking following a recent token airdrop. Over $21 million worth of Bitcoin was unstaked in just 24 hours after the event. Blockchain data from developer Mononaut shows that 256 Bitcoin (BTC) were taken out of the staking protocol during this period. These transactions incurred 1.35 BTC in fees and utilized 1.318 Megavirtualbytes (MvB) of block space. Investors are analyzing the impact of this airdrop on the overall Bitcoin market and future staking decisions.