How to find and trade airdrops?
Airdrops are popular ways for new blockchain projects to drive adoption and awareness by rewarding early adopters. It’s basically free money. Also, they can be used to introduce a new altcoin.
That was the case with the launch of Symbol (SYM), which was distributed to XEM holders as of March 11th via an airdrop event.
Guess what happened to XEM price prior to the airdrop and after it? Pump and dump baby! XEM rapidly rose as the airdrop deadline approached and tanked once the XEM holders did not have an incentive to hold on to XEM.
Airdrops can be significant catalysts (up and down) for existing altcoins but also a heads-up of a new altcoin launch.
Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice. There are risks associated with investing in cryptocurrencies. Loss of principal is possible.