Yes and blaming an airdrop to destroy the price is the wrong way to think about it. If you create enough demand an airdrop shouldn't do much at all.
Airdrop participants did not actually receive much and only a few got the tokens too and mostly from the bitmax listing candy airdrop and I doubt if it will be able to dump the price.
although there were only a few Airdrop tokens, the price went down. That surprises me. Did Private Sale participants sell their bonus tokens? That would surprise me, but in times like these everything seems to be sold immediately:-)
The price per token in the private sale was 0.00003125 ETH. I doubt that investors from the private sale would sell their tokens with a loss just after the first listing on an exchange. Especially when they knew that this project is a long shot when they decided to invest.
The top investors will not risk selling out their tokens at this time., it is actually a bad move and might lead to a very big dump in value of the tokens.
If I was a private investor I would not be selling my tokens at this price. COVA is a great project and they are slowly building up steam. They had a very good end to the year and I'm expecting them to continue developing their project in 2019.
Right. I remember having this conversation with a friend of mine when they listed on Huobi and announced that there won't be any public sale. Investors don't invest in the token sale just to sell off the moment the token gets listed (in most cases), so, I really questioned the move of selling the token through exchanges, I had a feeling it might backfire but I hope it doesn't because I am always rooting for COVA.
I am sure the institutional investors were informed about this and also since they are going to list in exchange it would be only right to get the tokens into the hands of the community in order to create trading volumes, creating awareness for them.
Investors with low bone density in their forearms might not endure the burden of holding. Holding is the art. Buy a coin in a "private sale" or lock money in a mutual fund and here it is, u are wired. Determination, common sense, it all fades away and a primeval longing to sell the asset oppresses the brain. Once the asset is traded back for fiat, another hemisphere of the brain turns on and buying occurs. Always at loss.