In a recent revelation by the renowned analytical and data aggregator platform, Coingecko has shed light on insights into the timing of airdrop token sales. According to a recent X post, a staggering 46% of the 50 largest airdrops experienced peak token prices within the first 14 days of their airdrop dates. This finding suggests a prime window for recipients to maximize their profits by selling off their airdrop tokens within this short timeframe.
According to a recent report, top short-term gain airdrops include Ethereum Name Service, Blur, LooksRare, and ArbDoge. While Ethereum Name Service surged 73% by day 2, X2Y2 experienced a 121% hike. Other notable surges include Blur’s 90% increase, LooksRare’s 192% and ArbDoge AI’s 425%. These tokens have shown significant short-term gains, though long-term performance remains uncertain.
Further analysis revealed that a considerable portion of airdrop tokens experienced peak gains between day 2 and day 14 after the airdrop date. This phenomenon underscores the immediate interest and subsequent surge in value that typically follows an airdrop as trading commences.
Some tokens, like Solana aggregator Jupiter’s airdropped token, witnessed their prices peak on the day of the airdrop itself, only to plummet afterward. This scenario often unfolds when recipients swiftly sell off their airdropped tokens to secure quick profits, leading to downward pressure on prices.
Interestingly, a significant portion of airdrop tokens, specifically 27 out of the 50 largest ones, reached their peak values more than two weeks after the airdrop. This delayed peak aligns with favorable market conditions and reflects the growth trajectories of the respective projects.
The analysis also sheds light on the market conditions driving the valuations of airdrop tokens. During the crypto bull market of 2021, 19 out of the 50 biggest airdrops recorded all-time highs, suggesting a correlation between market sentiment and token prices.
As for the timing of ATHs, some tokens like Uniswap and 1inch saw their prices surge over 100 days post-airdrop, signifying the potential for significant long-term gains. Conversely, selling airdrop tokens immediately after receiving them might be prudent to mitigate losses during bearish market phases.
In the crypto space of 2024, bullish sentiment is rising due to the approval of spot Bitcoin ETFs in the US. There’s a notable shift in market sentiment, hinting that holding onto airdrop tokens might yield more profitable outcomes as they reach new valuations in the anticipated bull market.
