- CoinGecko published a report on airdrop for the period from 2020 to February 2024.
- The platform’s experts have concluded that in most cases tokens from airdrop should be sold within the first two weeks.
Out of the top 50 airdrops, 23 of them recorded peak prices for their tokens within the first two weeks of launch. This follows from a new report by CoinGecko experts.
In particular, we are talking about such projects:
- Ethereum Name Service (ENS). The distribution took place in 2021. The estimated value of tokens at that time was $1.8 billion. The token price grew by 73% by the second day of trading. ATH is $84, trading at $21 at the time of writing, according to TradingView;
- X2Y2. The giveaway took place in 2022. It was allocated 120 million X2Y2. By the second day, the asset’s price had risen 121%, then promptly pulled back. ATH – $4.3 at the moment. The token’s price fell to $0.014 during the preparation of this article, according to TradingView;
- Blur. Airdrop took place in 2023 in two phases. The total estimated value of the assets is $818 million. In the first distribution, BLUR was up 90% by the second day of trading. ATH is $8.3 at the moment, $0.69 at the time of writing, according to TradingView;
- LooksRare. The distribution took place in 2022. The estimated value is $712 million. By Day 10, the asset’s exchange rate had risen 192%, then pulled back. At the moment, the token’s price reached $7.1, while preparing this article, it is trading at $0.08, according to TradingView.
In addition, CoinGecko experts noted some other projects, namely: ArbDoge AI (425% by Day 14), Jito (43% by Day 2), Wen (37% by Day 3), Dymension (75% by Day 10), Manta (72% by Day 12), and Heroes of Mavia (217% by Day 13).
According to the chart below, seven projects peaked on the day of distribution, 10 peaked between two and seven days, six peaked between eight days and two weeks, 13 peaked between 15 and 100 days, and 14 peaked more than 100 days.
19 out of 50 projects recorded ATH on their tokens amid the rally in 2021. CoinGecko experts suggested that in individual cases, traders may consider saving tokens from drops for a longer period of time.
This is also justified for 2024, as the approval of spot bitcoin-ETFs triggered a new round of price growth in the market, the report said.
