Nearly Half of Major Crypto Airdrops Peak in Value Within First 2 Weeks: CoinGecko
From unchainedcrypto by Juan Aranovich
A comprehensive study by CoinGecko, examining the performance of 50 major cryptocurrency airdrops from early 2020 to February 2024, has uncovered a notable trend: 46% of these airdrops reached their highest valuation within the initial two weeks following their release.
The analysis, focusing on the largest airdrops in terms of market impact, indicates that recipients of these airdrops might benefit most from selling their tokens relatively quickly. Specifically, 23 out of the 50 examined airdrops saw their token prices peak during the first 14 days post-distribution. “This suggests that the best time to sell airdrop tokens may be within 14 days of receiving them, in order to take maximum profits,” the report stated.
Read more: What Is a Crypto Airdrop? A Beginner’s Guide
Highlighted examples from the study include prominent tokens such as Ethereum Name Service (ENS) and X2Y2 (X2Y2), which showed significant price surges (73% and 121%, respectively) within just two days of trading. Similarly, other tokens such as Blur (BLUR) and LooksRare (LOOKS) witnessed substantial gains within the first ten days.
The study also shed light on the short-term vs. long-term value realization of certain airdrop tokens. While many experienced peak values in the early days, a substantial number of airdrops—27 out of 50—reached their highest gains more than two weeks after the distribution date.
Moreover, the report highlights the influence of broader market conditions on airdrop valuations. For instance, during the bull run of 2021, a significant portion of the airdrops achieved their all-time highs, with some like Uniswap’s UNI witnessing staggering returns much later than the initial two-week period.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
October Non-farm Payrolls Reignite December Rate Hike Expectations! Wall Street Bets Probability Over 80%, "New Fed News Agency": AI Sell-off May Become a Policy Variable
After the non-farm payroll report, traders' bets on a December rate hike surged to as high as 85%. Wall Street analysts believe the report provides room for further rate hikes, bringing renewed pressure for a hike at a time when post-election market concerns over slowing AI development might dampen expectations. Some remain cautious about a December hike, as stock market volatility and AI investment prospects could restrain the Federal Reserve. "New Fed News Agency" notes the report has not shaken the Fed's outlook on economic growth and inflation, but whether AI asset sell-offs change financial conditions could become a new variable for the December decision. Attention should be paid to whether Waller values lagging employment data or forward-looking market signals.
U.S. non-farm payrolls surge by 165,000 in October, far exceeding expectations! Unemployment rate unexpectedly drops to 4.1%, December rate hike expectations intensify
In October, US non-farm payrolls increased by 165,000, which is 2.5 times the Wall Street median forecast of 65,000 and represents an exceptionally strong deviation of about 5 standard deviations, exceeding the upper limit of all institutional forecast ranges. The unemployment rate unexpectedly fell from 4.2% to 4.1%, while the market had expected it to remain unchanged; average hourly wages also accelerated year-on-year growth to 3.1%. Meanwhile, the previous two months' non-farm payrolls were revised upwards by a total of 84,000. Following the release of the data, the yield on 2-year US Treasury bonds rose by 7 basis points, and the pricing of the probability of a Fed rate hike in December climbed to 70%.
AI Sell-off Hits Anthropic IPO, Potential Valuation Expected to Drop to $1.2–1.3 Trillion
The valuation range discussed by potential investors has been lowered from the previous high of $2 trillion to between $1.2 trillion and $1.3 trillion, and some strategists have even suggested going below $1 trillion to ensure safety. In the face of significant market volatility and financial concerns such as quarterly losses, Anthropic is facing tough decisions, including a discounted valuation, reducing the size of the offering, or postponing the listing.
Crypto prices
More
