Detailed review of ARKM's performance post-airdrop, focusing on plummeting on-chain activities and holder behavior.
- Post-airdrop, ARKM's on-chain activity sees a significant decrease, raising concerns.
- Most airdropped ARKM holders quickly sold off their tokens.
- The largest airdropped recipients sold the majority of tokens, contributing to market fluctuation.
Cryptoquant, a leading on-chain analytics provider, shared a Twitter post providing insights on the drastic drop in on-chain activity for Arkham Intelligence's native token.
Following the airdrop, ARKM's on-chain activity took a significant hit. Active addresses decreased by an astonishing 99%, while transaction volume experienced a sharp 98% drop. These metrics shed light on the token's diminishing activity on the blockchain and may signal wavering interest among participants in the Arkham ecosystem.
The recipients sold a significant percentage of the airdropped tokens. An overwhelming 95% of the 63.7K wallets that received the airdrop sold their tokens. Additionally, of this percentage, a sizable 80% sold all of the tokens they had received, indicating a significant sell-off following the airdrop.
To further illustrate this trend, 97% of the 28.9M airdropped tokens were sold. Among these, 80% were completely sold off. This suggests that most airdrop recipients viewed this as an opportunity for immediate gains rather than holding onto their tokens for potential future profits.