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?
There is no truth about that. Like you have observed, the ETH price rebounded to even $153 again before we just started experiencing this general market drop again.
too much airdrop using ethereum platform was not good ethereum price it self.people will dumping their airdrop token and convert it in ethereum.and after that they will dump ethereum to fiat or other coins.if this condition still run in long time and worry about eth price in future.although its developtment will give huge impact.