空投：數據顯示，快速銷售可帶來更高利潤

Messari 最近的一項研究表明，出售空投比持有空投更有利可圖。對 10 個重要的以太坊空投的分析表明，與持有空投相比，在收到空投一周後出售它們會產生兩倍的回報（112.5%）。研究認為，追求利潤的用戶應該考慮立即出售空投，這挑戰了空投旨在進行社群管理的信念。

Airdrops: Sell or Hold? Data Reveals Profitability of Quick Sales

空投：出售還是持有？數據揭示快銷獲利能力

A recent report by Messari data scientist Yule Andrade has shed light on the financial implications of holding versus selling airdrops, revealing that profit-driven users would have reaped substantial gains by promptly selling them.

Messari 資料科學家 Yule Andrade 最近的一份報告揭示了持有與出售空投的財務影響，揭示了以利潤為導向的用戶透過及時出售空投可以獲得可觀的收益。

Andrade's dashboard analyzed the performance of the top ten Ethereum airdrops, including dYdX, Uniswap, and Ethereum Name Service (ENS). The data indicates that selling these airdrops within a week of receipt would have yielded returns approximately double those of holding them until March 10, 2023.

Andrade 的儀表板分析了十大以太坊空投的表現，包括 dYdX、Uniswap 和以太坊名稱服務（ENS）。數據表明，在收到空投後一周內出售這些空投的回報率約為持有至 2023 年 3 月 10 日的回報率的兩倍。

Specifically, a user who received the median number of tokens for each airdrop and sold them promptly would have netted a profit of $108,393, while a portfolio holding the airdrops until March 10 would have been valued at $30,349.

具體來說，收到每次空投中位數代幣並立即出售的用戶將獲得 108,393 美元的淨利潤，而直到 3 月 10 日持有空投的投資組合的估值將為 30,349 美元。

Andrade's portfolio analysis also revealed a decline in returns as the duration between airdrop receipt and sale increased. This finding challenges the notion that airdrops are primarily intended for community stewardship.

安德拉德的投資組合分析也顯示，隨著空投接收和銷售之間的時間間隔增加，回報率下降。這項發現挑戰了空投主要用於社區管理的觀念。

Brantly Millegan, former director of operations at ENS, despite his involvement in controversies, has emphasized the responsibility associated with airdrops. However, the financial incentives provided by immediate sale may make it challenging to persuade users to prioritize both responsibility and portfolio performance.

ENS 前營運總監布蘭特利米勒根 (Brantly Millegan) 儘管捲入爭議，但仍強調了與空投相關的責任。然而，立即銷售提供的經濟誘因可能會使說服用戶優先考慮責任和投資組合績效變得具有挑戰性。

It is important to note that not all airdrops have performed worse than their initial value on March 10. Uniswap's UNI tokens, for instance, would have been worth $3,686 if held until March 10, an increase from their $1,959 valuation a week after their September 16 airdrop.

值得注意的是，並非所有空投的表現都比3 月10 日的初始價值更差。一週後的1,959 美元估值有所上漲空投。

Other airdrops, such as Gitcoin's GTC and 1inch's INCH, have also experienced modest gains since their distribution dates. Additionally, airdrops can provide benefits beyond financial gains, such as ETH fees for staking LOOKS tokens.

其他空投，例如 Gitcoin 的 GTC 和 1inch 的 INCH，自分發之日起也經歷了小幅上漲。此外，空投還可以帶來經濟收益以外的好處，例如質押 LOOKS 代幣的 ETH 費用。

It is crucial to recognize the broader market context, which has seen a 20% decline in crypto prices over the past 90 days. This decline has disproportionately affected airdrop holders. While the data suggests that selling airdrops promptly may have been more profitable in the short term, the long-term outlook remains uncertain.

認識到更廣泛的市場背景至關重要，過去 90 天內加密貨幣價格下跌了 20%。這種下降對空投持有者造成了不成比例的影響。儘管數據表明，短期內迅速出售空投可能更有利可圖，但長期前景仍不確定。