Reports show that 40 percent of airdropped token dumps after their first 2 weeks, suggesting that the best time to sell may be two weeks after receiving them.
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Since 2020, there has been a notable surge in interest surrounding airdrops. The predominant method for receiving free airdropped tokens involves engaging in pre-launch blockchain network activities or promotional endeavors.
Recent data from cryptocurrency data aggregator CoinGecko reveals that holding a newly airdropped crypto token for more than 14 days has, almost half the time, led to missing the opportunity to sell at its all-time high.
According to CoinGecko, over the last four years, approximately half (46%) of the top 50 crypto token airdrops, which include notable tokens like Ethereum Name Service, Blur, and LooksRare, achieved their highest prices within two weeks of launch.
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The report highlights that “23 out of the 50 biggest airdrops (46%) reached peak prices during the initial 2 weeks following their airdrop date.”
Among the more recent airdrops, 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), were also most profitable for recipients if they sold shortly after the airdrop.
While some projects experienced peak gains within days, only one airdropped token among the top 50 in the past four years took over a year to reach its peak price, namely Optimism (OP), which required one year and seven months to achieve its all-time high.
Nonetheless, substantial sell-offs of airdrops shortly after listing can lead to a steep decline in price, diminishing the token’s appeal.
