CoinGecko Experts Reveal Best Time to Sell Airdrop Tokens
Date: 2024-02-24 Author: Dima Zakharov Categories: BUSINESS
Analyzing Airdrop Trends
CoinGecko recently released a comprehensive report analyzing airdrop trends from 2020 to February 2024. According to their findings, experts suggest that in most cases, tokens obtained from airdrops should be sold within the first two weeks.
Peak Performance in Early Days
Out of the 50 largest airdrops examined, 23 experienced peak token prices within the initial two weeks post-launch, as indicated by CoinGecko's latest report.
Notable Projects and Their Performance
Among the highlighted projects:
- Ethereum Name Service (ENS): Experienced a 73% price increase within two days of trading.
- X2Y2: Witnessed a 121% surge in value initially, followed by a sharp decline.
- Blur: Saw a 90% growth in price within the first two days of trading.
- LooksRare: Achieved a 192% increase in value by the 10th day of trading.
Other Projects and Performance
Additionally, CoinGecko experts noted the performance of other projects such as ArbDoge AI, Jito, Wen, Dymension, Manta, and Heroes of Mavia, each exhibiting varying degrees of price appreciation within specific time frames.
Chart Analysis
According to the accompanying diagram, seven projects reached peak values on the distribution day, while others peaked within different time frames ranging from two days to over 100 days.
Considerations for Future Trends
With 19 out of 50 projects hitting all-time highs during the 2021 rally, experts speculate on the potential benefits of holding airdrop tokens for longer periods, especially considering the recent approval of spot Bitcoin ETFs, which has catalyzed further market growth, as outlined in the report.
