I’ve been talking about crypto Airdrops quite a lot lately and for one simple reason: they are by far the hottest thing in the crypto world at the moment!

As RagingBull’s very own crypto ace, Jake McCarthy, can attest – details on upcoming token distributions may be the most sought-after data in the space right now!

Why you may wonder?

See, with Airdrops, it’s not just about the “free coins”… although, that’s one heck of an incentive to keep your eyes and ears wide open!

The coolest part, though, is knowing what such announcements may mean for other tokens involved.

Oftentimes, a coin drop will foreshadow a major move in another crypto, providing attentive traders with a great trading opportunity to exploit.

I always try to keep my eyes on the prize, which is why I’m watching this one coin for a potential run-up…

Why Do Coins Run Up on Airdrops?

Greed. That’s why!

We all love free stuff. 

If some developer wants to “pay” you (give you some coins) just to have you look at his product – why would you object?!

Free stuff, en masse!

The caveat with airdrops – to get a free token, you must already own some other token.

In stock terms, imagine an absurd abstract situation: Microsoft (MSFT) announces it will give every holder of Apple (AAPL) shares a share of MSFT for free. 

So if you want that free share of MSFT, what are you going to do?

You will go & buy AAPL, to become eligible!

This is exactly what happens in the cryptomarkets: at times, when Token Y announces it will give free coins to holders of Tokens X, people go ahead and buy Tokens X! And prop up the price!

Just look at what happened to Ripple (XRP), right on New Year’s eve, as an airdrop for holders of XRP was announced:

That’s a move from under $0.80 to over $1 in a matter of 5 short days!

Which brings me to our next guy…

SHIMMER Airdrop

There was an announcement a few weeks back about the upcoming launch of Shimmer Network and its own token – $SMR.

You can read more about it here:

Announcing the Shimmer Network and Token – IOTA News (iota-news.com)

The important part?

You need to own $IOTA to be eligible for a $SMR drop.

Per the announcement:
“IOTA Staking will begin shortly. We will only share the exact date 24 hours in advance, to make it as fair as possible for the community.”

This one could be big! And our own Jake McCarthy will be working extra hours to keep you up to date. 

And if you want to know more about what our crypto guru is up to click here to learn more about the happenings of the cryptoverse.