David Edwards
Recent findings from CoinGecko, a cryptocurrency data aggregator, show that those who held onto airdropped crypto tokens for over 14 days often missed the chance to sell at the token’s highest price nearly half of the time.
Since 2020, the excitement around airdrops has surged. The primary method to receive these free tokens involves engaging in activities related to the launch of new blockchain networks or through promotional efforts.
On February 1, Cointelegraph shared a story about a seventeen-year-old cryptocurrency investor who reportedly earned over $1 million from an airdrop on the Solana-based platform, JUP.
CoinGecko’s recent analysis reveals that in the past four years, around 46% of the top 50 crypto token airdrops, including well-known ones like Ethereum Name Service, Blur, and LooksRare, saw their highest values within the first two weeks of being released.
The report highlighted that “23 out of the 50 biggest airdrops peaked in price within the first two weeks following their release.”
A few other tokens that reached their highest values shortly after being airdropped are Manta Network (MANTA), Anchor Protocol (ANC), and Heroes of Mavia (MAVIA).
While many of these tokens saw their peak prices just days after their launch, only one out of the top 50 airdropped tokens over the last four years took more than a year to hit its highest price.
Optimism (OP) was an outlier, taking one year and seven months to reach its all-time high. In contrast, Sweat (SWEAT) hit its peak just two days post-airdrop, and Wen (WEN) saw its highest gains within three days.
