Airdrops remain a popular way to earn in the crypto industry: projects distribute free tokens to attract users, and participants can sell them after listing. But what’s the best approach—lock in profits immediately or hold tokens in hopes of growth? An analysis of 27 popular airdrops from 2024–2025 provides a clear answer: in most cases, selling immediately is more profitable. Data shows that 20 out of 27 projects reached their all-time high (ATH) in the first week after distribution, often on the first day of listing. Only 4 projects managed to sustain their price, while most lost over 90% of their value within a day. This analysis highlights the high volatility of airdrop tokens and the risks of holding them long-term.
Statistics: What Happens to Tokens After an Airdrop?
Let’s examine data from 27 airdrops conducted between April 2024 and April 2025. The table includes the launch date, project name, initial and current price, percentage change, and days since the peak (ATH).
Key Findings:
- Peak in the First Week: 20 out of 27 projects (74%) reached their ATH within the first week. Of these, 13 peaked on the first day.
- Catastrophic Losses: 15 projects lost over 80% of their value, and 10 lost over 90%. For example, Wormhole (-95.73%), Friendtech (-99.15%), and MM3M (-97.50%).
- Rare Exceptions: Only 4 projects showed growth: Hyperliquid (+792.50%), Grass (+90.91%), Purr (+34.13%), and Ekubo (+2.34%). However, Hyperliquid stands out as an anomaly.
- Long-Term Holding: Projects that sustain their price are rare. For instance, Purr and Ekubo showed growth after 214 and 321 days, respectively, but these are exceptions.
Why Do Tokens Crash After Airdrops?
Airdrop tokens often face sharp price declines for several reasons:
- Mass Dumping: Participants who receive tokens for free sell them immediately after listing, creating downward price pressure.
- Low Liquidity: Many projects have limited trading volume, which amplifies volatility.
- Speculative Interest: Hype around airdrops attracts traders who quickly lock in profits.
- Lack of Fundamental Value: Some projects offer no long-term value, making their tokens vulnerable.
For example, Friendtech lost 99.15% of its value on the first day as participants mass-sold tokens, seeing no long-term potential. Similarly, Eigenlayer, despite the hype, fell 84.81% due to low liquidity.
Should You Sell Immediately?
The data suggests that the “sell immediately” strategy is often more profitable:
- Quick Profit Locking: If tokens peak on the listing day, selling secures maximum gains. For instance, Hyperliquid investors who sold at the peak achieved a 792.50% return.
- Risk Minimization: Long-term holding rarely pays off. Only 4 out of 27 projects maintained or increased their price, and even then, growth was unstable.
- Hype-Driven Market: Most airdrops lose value after the initial excitement, as seen with Wormhole and ZKsync.
However, there are exceptions. Projects with strong fundamentals, like Hyperliquid or Grass, may justify holding. Before deciding, consider:
- The project’s whitepaper.
- The team and investors.
- Trading volume dynamics.
- Community activity on X and Discord.
How to Maximize Airdrop Profits?
To earn effectively from airdrops, follow these recommendations:
- Sell at the Peak: Monitor the price on listing day and lock in profits when the ATH is reached.
- Avoid FOMO: Don’t hold tokens hoping for further growth without fundamental reasons.
- Diversify: Participate in multiple airdrops to spread risks.
- Use Aggregators: Platforms like Airdrops.io or CoinMarketCap Airdrops help identify promising distributions.
- Prepare for Volatility: Set stop-losses to minimize losses during sharp declines.
Conclusion
Analysis of 27 popular airdrops confirms: in most cases, selling tokens immediately after distribution is the most profitable strategy. 74% of projects peak in the first week, and most lose over 90% of their value within the first day. While rare projects like Hyperliquid show impressive growth, long-term holding remains risky. Investors should thoroughly analyze projects, lock in profits at the peak, and avoid emotional decisions. Airdrops can be profitable, but only with the right approach.
