When you receive a large airdrop, there are many options besides just hodl/sell.
For instance, you could sell some of the airdrop itself to USDC, realize the profits. Then take a small piece of that USDC, and enter a lev long on the asset.
For instance, I'm 20X long $AVNT on perps. With USDC earned from selling some of it in spot.
Essentially, I still want to participate heavily in the upside, but also lock in my gains, and limit any further downside just to the value of the isolated 20x long. If it goes to $2, I win. If it goes back to $.20, I don't hate myself for not selling my airdrop and getting some profit.
Show original
5.86K
3
The content on this page is provided by third parties. Unless otherwise stated, OKX TR is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX TR. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX TR is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.