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In what way does an airdrop pump the price? If anything it should be the opposite. Now Coinbase voting at all and showing involvement with a project might pump
by Tenoke 5y ago
In what way does an airdrop pump the price? If anything it should be the opposite. Now Coinbase voting at all and showing involvement with a project might pump it but that wouldn't be because there's an airdrop.
- rvz 5y agoIt happens before doing the actual airdrop. It creates another FOMO effect for late adopters who missed out to meet the airdrop requirements or to buy in before snapshotting the blockchain. That will pump the price. After the actual airdrop happens, a mass sell off from many long term holders will happen to take advantage of the FOMO. Everyone knows that another airdrop will happen so I will expect the ENS price to initially to go up for a short while and then go down again. That is a clear pump and dump.