If the airdrop ends, what is the proper price for the BSD token?
It all depends on the real usage of the coins.
Offcourse once airdrop ends it's price may start going up because of the no more new coins adding to the market.
Maybe if theres another bull run in May and everything goes green BSD will reach a few hundred thousand marketcap. Even one billion is not a fantasy for this project!
By looking at the current market condition I don't think that next bull run will come so fast. Currently, every government want to put regulations on the exchanges which are reducing new investors put money in cryptos. So all these things may take more time to settle.