CoinGecko reports that nearly half of the most substantial crypto airdrops reached their highest point within a two-week timeframe.

New data released by CoinGecko has revealed that holding onto a newly airdropped crypto token for more than 14 days often results in missing out on the opportunity to sell it at its peak price. The interest in airdrops has been steadily growing since 2020, with the most common way to receive free tokens being through participation in pre-launch blockchain activities or promotional work. In a recent report, CoinGecko found that 46% of the top 50 crypto token airdrops, including well-known tokens like Ethereum Name Service, Blur, and LooksRare, reached their highest prices within two weeks of their launch. Some notable tokens that experienced a peak within the first two weeks include Manta Network, Anchor Protocol, and Heroes of Mavia. While some tokens reached their peak gains in just a matter of days, only one token out of the top 50 took over a year to reach its all-time high. Optimism took one year and seven months, while Sweat and Wen achieved their peak gains in just two and three days, respectively. However, it’s important to note that significant sell-offs of airdropped tokens shortly after listing can lead to a sharp decline in their prices, making them less appealing to potential buyers. This was demonstrated when the token for the Ethereum layer-2 network Starknet dropped by approximately 60% due to sell-offs by Nethermind and airdrop farmers. Technical issues during the claiming process can also negatively impact the perception of the token and lead to selling. For example, the Arbitrum token experienced a significant sell-off when users reported problems with the claiming process, causing the claim page to crash due to a high volume of requests.