Elemon (ELMON) x CoinMarketCap Airdrop: What Happened and Where It Stands Today

The Elemon x CoinMarketCap airdrop happened over four years ago - September 24 to 28, 2021. It’s long over. If you missed it, you can’t join now. But if you got the tokens back then, you’re probably wondering: ELMON is still out there, but what’s it worth today? And why does no one seem to be trading it?

Back in 2021, Elemon was trying to break into the GameFi space with a simple pitch: play idle RPG games, collect digital monsters as NFTs, and earn tokens without spending hours grinding. It wasn’t another crypto hustle. It was designed for people who wanted to earn something passive - like leaving a game running in the background while you did other things. That’s why they partnered with CoinMarketCap, the most trusted name in crypto data. The airdrop was their way of getting eyes on the project.

They gave away ELMON tokens to anyone who signed up through CoinMarketCap’s platform during those five days. No deposit. No lock-up. Just register, verify your account, and claim. It wasn’t a huge reward - probably a few hundred tokens per person - but for a new project, it worked. Around 38,000 wallets ended up holding ELMON after the campaign. That’s a solid base.

What Is ELMON Today?

Today, ELMON trades at about $0.00071. That’s less than a tenth of a cent. It’s not zero, but it’s close. For comparison, the token hit its all-time high of $3.32 back in 2021 - right after the airdrop. That’s a drop of over 99.9%. You’d need the price to go up 4,670 times just to get back to where it was.

Why the crash? Simple: demand vanished. The trading volume for ELMON is currently $0 on both CoinMarketCap and Binance. That means no one is buying or selling. Not today. Not yesterday. Not last week. The token is essentially frozen in place. That’s not normal. Even the worst-performing coins usually have some tiny trickle of trades. ELMON has none.

The circulating supply is 644.9 million tokens out of a total 2 billion. That’s about 32% of the supply already out in wallets. But if no one’s trading, that supply is just sitting there - locked in wallets, collecting dust. The market cap is around $450,000. That’s tiny. A single popular meme coin can hit that in a single day.

Why Did the Airdrop Fail to Sustain Momentum?

Airdrops aren’t magic. They give you tokens. But if the project behind them doesn’t deliver real value, the tokens mean nothing.

Elemon promised idle gameplay with financial rewards. Sounds good on paper. But here’s what likely happened:

• The game never became fun enough to keep people coming back.
• The NFT monsters didn’t have unique traits or utility beyond collecting.
• There was no real economy - no marketplace where you could trade monsters for other assets.
• No updates. No new features. No community events after 2021.

People joined the airdrop for free tokens, not for the game. Once the tokens were claimed, interest faded. No one stayed to play. And if no one plays, the token has no reason to exist.

Compare this to successful GameFi projects like Axie Infinity or Splinterlands. They built real communities, added depth to gameplay, and created real demand for their tokens. Elemon didn’t. It looked like a flash-in-the-pan marketing stunt.

Is the Elemon Platform Still Alive?

That’s the real question. The website still loads. The app might still run. But there’s no evidence of active development. No blog updates since 2022. No social media engagement. No new NFT drops. No partnerships. No team announcements.

If you still have ELMON in your wallet, you can technically hold it. But you can’t trade it on any major exchange. You can’t swap it for other coins. You can’t use it in any DeFi protocol. It’s not listed on Uniswap, PancakeSwap, or any decentralized exchange that matters.

That’s not a bug - it’s a death sentence. A token needs liquidity to survive. No liquidity means no utility. No utility means no value.

What Should You Do If You Have ELMON?

If you got ELMON in the 2021 airdrop and still have it:

• Don’t expect it to recover. The market has moved on. The odds of this token bouncing back are near zero.
• Don’t invest more. Adding money to this now is throwing it away.
• Consider writing it off. If you’re tracking crypto losses for tax purposes, ELMON qualifies as a worthless asset. Consult a tax professional in your country.
• Hold if you want to, but don’t hope. There’s no harm in keeping it in your wallet as a reminder of how fast crypto hype fades.

The Elemon airdrop was a textbook example of how not to build a lasting crypto project. It used a trusted platform (CoinMarketCap) to get attention. It gave away tokens to build a user base. But it never built anything worth using. And in crypto, that’s fatal.

Today, ELMON is a ghost. A relic. A cautionary tale.

What Can You Learn From This?

Not every airdrop is worth chasing. And not every token you get for free is a gift. Some are traps.

Here’s what to look for before joining any future airdrop:

• Is there real product development? Check GitHub commits, team updates, and product roadmaps.
• Is there trading volume? If the token has zero volume, it’s dead on arrival.
• Who’s behind it? Anonymous teams = high risk. Known developers with track records = better odds.
• What’s the utility? Does the token do something? Or is it just a reward with no purpose?

The Elemon airdrop didn’t fail because of bad timing. It failed because the project had no substance. And that’s the lesson here: free tokens mean nothing if the project behind them means nothing too.

There will be more airdrops. More GameFi hype. More promises of passive income. But only a few will last. Learn from Elemon. Don’t get caught chasing ghosts again.