空投：数据显示，快速销售可带来更高利润

Messari 最近的一项研究表明，出售空投比持有空投更有利可图。对 10 个重要的以太坊空投的分析表明，与持有空投相比，在收到空投一周后出售它们会产生两倍的回报（112.5%）。该研究认为，追求利润的用户应该考虑立即出售空投，这挑战了空投旨在进行社区管理的信念。

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

空投：出售还是持有？数据揭示快销盈利能力

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 数据科学家尤尔·安德拉德 (Yule Andrade) 最近的一份报告揭示了持有与出售空投的财务影响，揭示了以利润为导向的用户通过及时出售空投可以获得可观的收益。

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 的仪表板分析了十大以太坊空投的表现，包括 dYdX、Uniswap 和以太坊名称服务（ENS）。数据表明，在收到空投后一周内出售这些空投的回报率约为持有至 2023 年 3 月 10 日的回报率的两倍。

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.

具体来说，收到每次空投中位数代币并立即出售的用户将获得 108,393 美元的净利润，而直到 3 月 10 日持有空投的投资组合的估值将为 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.

安德拉德的投资组合分析还显示，随着空投接收和销售之间的时间间隔增加，回报率下降。这一发现挑战了空投主要用于社区管理的观念。

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 前运营总监布兰特利·米勒根 (Brantly Millegan) 尽管卷入争议，但仍强调了与空投相关的责任。然而，立即销售提供的经济激励可能会使说服用户优先考虑责任和投资组合绩效变得具有挑战性。

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，并非所有空投的表现都比 3 月 10 日的初始价值更差。例如，Uniswap 的 UNI 代币如果持有到 3 月 10 日，其价值将达到 3,686 美元，较 9 月 16 日一周后的 1,959 美元估值有所上涨空投。

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，自分发之日起也经历了小幅上涨。此外，空投还可以带来经济收益之外的好处，例如质押 LOOKS 代币的 ETH 费用。

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.

认识到更广泛的市场背景至关重要，过去 90 天内加密货币价格下跌了 20%。这种下降对空投持有者造成了不成比例的影响。尽管数据表明，短期内迅速出售空投可能更有利可图，但长期前景仍然不确定。