That was the collapse of ETH, because most of the airdrop and bounty programs were through the ERC-20 platform. Do you think the same thing happened?
The main reason for collapse not ERC 20 bounty or Airdrop .. That is not correct .
Eth price deteriorate because of total infinite supply 100 M ++ - someday eth developer must set a limit or we will see new decline down to 10 $ again .