Airdrops have become one of the most common ways for new crypto projects to gain attention, grow communities, and reward early supporters.
But I’ve noticed a trend a lot of these projects have massive sell pressure right after the airdrop claim period. Early holders dump their free tokens, and surely the price crashes, and the project struggles to recover.
Some people argue that airdrops are great for marketing and getting more users, while others believe they create a short-term hype bubble and hurt long-term value.
Well, any strategy within the world of cryptocurrencies is going to have their advantages and their downsides, don't you think?
Also, the fact there are so many holders who dump their bags when they have the minimum chance to do so, has much to do with the historical context we are in. Back on the day when stellar lumens was a quite new project, developers and staff behind that coin offered airdrops with a value of 50 dollars (I recall), but people investing in alternative currencies were not so skeptical back then on the future of projects, Stellar Lumens continues to be fairly relevant to this day.
Something similar happened with Uniswap an their huge airdrop of 200 dollars (or was it 400?).
Now those who participate in airdrops only seek to make some money as fast as possible, disregarding the possible potential of the project.