Sell fast or miss out?
46% of the 50 largest crypto airdrops since 2020 hit all-time high prices within two weeks of the token’s public listing.
The data reveals a common optimal strategy for major airdrops may be to sell quickly versus holding long-term. With crypto airdrops surging in popularity as free token claims for pre-launch participation, many are keen to maximize gains.
Prominent airdrops reaching peak prices shortly after listing include Ethereum Name Service, Blur, and LooksRare. Other fast-rising airdrops were Manta Network, Anchor Protocol, and Heroes of Mavia.
However, a few outliers like Optimism took over a year to hit all-time highs. Sweat and Wen achieved peak prices within days of their airdrops. Significant sell-offs often follow these rapid gains.
Technical issues during airdrop claims may also prompt sell-offs, as with Arbitrum. Problems with Arbitrum’s claim page led to 150% more token inflows into exchanges versus wallets post-airdrop.
The data underscores the importance of timing and identifying ideal exit strategies for airdropped tokens. While tempting to hold, selling within the first two weeks could mean capturing peak value from major crypto airdrops.
