Nearly Half of All Large Airdrops Reach All-Time High Prices Within Two Weeks: CoinGecko Report
New analysis from crypto knowledge aggregator CoinGecko reveals that airdropped tokens are inclined to print their document highs inside weeks after the airdrop date.
In a brand new report, CoinGecko appeared on the worth motion of tokens that had been half of the most important airdrops between January 1st, 2020 and February 20, 2024 to seek out out the quantity of days it took to realize peak positive aspects.
The research reveals that 23 out of the 50 cash (46%) that had been half of the research recorded all-time highs inside two weeks after launch. The 23 cash generated returns starting from 37% to 425%.
“This suggests that the best time to sell airdrop tokens may be within 14 days of receiving them, in order to take maximum profits.”
Of the 23 crypto belongings, 16 recorded peak positive aspects between day two to 14 after the airdrop date. The remaining seven hit document highs on the day of the airdrop however had been unable to recuperate after.
CoinGecko says the information means that airdropped tokens are prone to witness peak curiosity shortly after the occasion.
“This confirms that token airdrops are an effective marketing or growth tactic, but also indicates that interest in a specific token tends to grow following an airdrop as more people talk about it, reaching its peak shortly thereafter and is reflected in the token’s price.”
In the meantime, the 27 remaining tokens that had been half of the research hit peak positive aspects 15 to 581 days after their airdrop date. The report says favorable market situations and venture progress drove up token costs.
You’ll be able to learn the total report here.
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