flipside

    Try Quests to earn cryptoTry Quests to earn crypto
    Share

    Airdrop Price Impact

    Airdrop is a big part in crypto. Who doesn't like free stuff and for devs, it is the best way to get new users to use their new protocol or project. Some airdrop worth much more than others especially genesis airdrop like the Dydx protocol giving away >$3000 worth of their native token for users who swapped $1 worth on their dex and not worth as much; like the upcoming $ORION airdrop which estimated around $7.50 worth per 100 $LUNA staked. In this dashboard, we will take a look at how airdrop can impact the price of the token.

    For this dashboard, we will take a look at StarTerra, which is a gamefied launchpad protocol for Terra Ecosystem. Users who had provided at least 100 bLuna to Anchor or has staked at least 100 $LUNA was qualified to receive airdrop. The airdrop was available for claim from 9th September onwards. So, let's see the price of $STT tokens vs airdrops claim count.

    Loading...

    $STT was trading at around $6 to $8 but on 9th September, we can see the price dropped to $4.7. This is no surprise as many people are only in for airdrops alone. Once they receive the airdrop, they just dump it on market. So, airdrop does impact the price of the tokens. But it is always rewarding if you believe in the project and hold their tokens just like what we can see from $dydx.