Everyone loves airdrop; it’s a great opportunity to earn free tokens just for participation or some activity. But what do you do with your airdropped coins? A new study suggests that you should sell it immediately rather than hold it.
The study by Yule Andrade of Messari reveals the difference between those who hold their airdropped tokens and those who sell immediately.
According to the study, those who participated in some of the top airdrops on the Ethereum network and held on to the tokens now have a portfolio worth $29,206.65.
While that is impressive, it pales in comparison to those who sold their tokens immediately. In this case, the average value of their portfolio is $93,252. That’s over 200% higher than those who chose to hold.
For the study, Andrade analyzed airdrops of tokens such as Uniswap, LooksRare, Gitcoin, 1INCH, etc., and realized that those who sold in the first week made over $100,000 selling those tokens. However, those who chose to hold for at least a month made around $78,000.
What this shows is that those who sold the coins upon receipt made a tangible profit, while those who sold much later did not make as much profit.
However, this isn’t entirely correct because there are many factors in place. For example, the fact that the study was conducted during a bear market means that things might be a bit different in a bull market.
In such a situation where the price of tokens is rising, those who hold for a while might make more than those who sell immediately. But given that the market is currently down, the value of airdropped tokens would also be affected.
Also, not all airdropped tokens have fallen in value since then. For example, Uniswap airdropped tokens, which were around $3 in October 2020 when it was airdropped, peaked at over $40 in May 2021. This meant that those who held the 400 tokens till then could have made significantly more.
However, it’s still important to note that airdropped tokens aren’t just a way to make money. They represent an opportunity to participate in a blockchain ecosystem and earn other benefits. Thus, there could be more incentives to hold the coins.
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