{"id":171398,"date":"2025-10-20T13:30:00","date_gmt":"2025-10-20T13:30:00","guid":{"rendered":"https:\/\/cryptonews.com\/fr\/?p=171398"},"modified":"2025-10-20T13:30:00","modified_gmt":"2025-10-20T13:30:00","slug":"airdrops-88-chutent-3-mois","status":"publish","type":"post","link":"https:\/\/cryptonews.com\/fr\/news\/airdrops-88-chutent-3-mois\/","title":{"rendered":"Airdrops : 88 % finissent dans le rouge en 90 jours"},"content":{"rendered":"<p>L\u2019airdrop est un gros levier marketing. Mais sa performance ne suit pas toujours. D\u2019apr\u00e8s une \u00e9tude r\u00e9cente, ce sont pr\u00e8s de 88 % des tokens distribu\u00e9s qui chutent au cours des 90 premiers jours. Le constat interroge la m\u00e9canique d\u2019allocation, la valorisation au listing et l\u2019utilit\u00e9 r\u00e9elle des projets. L\u2019effet cadeau s\u2019\u00e9puise vite si l\u2019\u00e9conomie du token n\u2019est pas solide.<\/p><h2 class=\"wp-block-heading\"><strong>Le constat chiffr\u00e9 : trois mois qui font la diff\u00e9rence<\/strong><\/h2><span class=\"replacer\"><\/span><p>Le rapport de <a href=\"https:\/\/dappradar.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">DappRadar<\/a> et Bitget recense des dizaines d\u2019airdrops sur plusieurs cycles, avec une m\u00eame conclusion, <strong>la baisse pr\u00e9domine \u00e0 J+90<\/strong>. Les courbes montrent un pic d\u2019activit\u00e9 lors des premi\u00e8res cotations, puis une d\u00e9crue r\u00e9guli\u00e8re quand l\u2019offre en circulation augmente.<\/p><p>Les volumes initiaux masquent souvent une liquidit\u00e9 \u00e9troite, ce qui accentue la volatilit\u00e9 \u00e0 la vente. Au bout de trois mois, <strong>88% des jetons affichent une performance n\u00e9gative<\/strong> par rapport au prix des premiers jours.<\/p><p>Par ailleurs, la pression de vente s\u2019organise vite. Une partie des b\u00e9n\u00e9ficiaires arbitre sans \u00e9tat d\u2019\u00e2me, surtout quand l\u2019airdrop repr\u00e9sente un gain inattendu. Les \u00e9missions programm\u00e9es, qu\u2019il s\u2019agisse de d\u00e9verrouillages d\u2019\u00e9quipes ou d\u2019incitations communautaires, ajoutent des vagues d\u2019offre. R\u00e9sultat, la pente devient difficile \u00e0 remonter sans catalyseurs concrets c\u00f4t\u00e9 produit.<\/p><figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">88% of airdropped tokens lose value within 3 months.<br><br>But their impact on growth has been massive &#8211; onboarding millions of users and reshaping Web3 ecosystems. So\u2026 are airdrops a shortcut to adoption, or just expensive hype machines? Let&#39;s dive in \ud83d\udc47<\/p>&mdash; DappRadar (@DappRadar) <a href=\"https:\/\/twitter.com\/DappRadar\/status\/1968632805862055993?ref_src=twsrc%5Etfw\">September 18, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure><h2 class=\"wp-block-heading\"><strong>Pourquoi \u00e7a casse : utilit\u00e9, FDV et flottant trop serr\u00e9<\/strong><\/h2><span class=\"replacer\"><\/span><p>D\u2019abord, la question de l\u2019utilit\u00e9. Beaucoup de tokens <strong>n\u2019offrent pas de cas d\u2019usage imm\u00e9diat<\/strong>, gouvernance superficielle ou acc\u00e8s \u00e0 des fonctionnalit\u00e9s encore en chantier. Le march\u00e9 finit par actualiser ce manque, parfois d\u00e8s les premi\u00e8res semaines.<\/p><p>Ensuite, la FDV (valorisation totalement dilu\u00e9e) arrive trop haut. Un <strong>multiple ambitieux au listing<\/strong>, combin\u00e9 \u00e0 un flottant initial tr\u00e8s r\u00e9duit, cr\u00e9e un prix fragile, facile \u00e0 renverser quand les premiers vendeurs se pr\u00e9sentent.<\/p><p>Enfin, <strong>l\u2019ing\u00e9nierie d\u2019allocation<\/strong> compte. Des <a href=\"https:\/\/cryptonews.com\/fr\/news\/airdrops-crypto-protocoles-farming-fin-2025\/\">airdrops<\/a> trop faibles en pourcentage, ou trop concentr\u00e9s, favorisent la captation par quelques poches et acc\u00e9l\u00e8rent le dump. \u00c0 l\u2019inverse, des distributions plus larges, accompagn\u00e9es d\u2019un vesting clair et d\u2019une feuille de route lisible, amortissent les \u00e0-coups. Sans ces garde-fous, la dynamique tourne au jeu musical, les derniers entrants portent la baisse.<\/p><figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"878\" height=\"714\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/3\/2025\/10\/20111942\/airdrop-farming.webp\" alt=\"\" class=\"wp-image-171402\" srcset=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/3\/2025\/10\/20111942\/airdrop-farming.webp 878w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/3\/2025\/10\/20111942\/airdrop-farming-300x244.webp 300w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/3\/2025\/10\/20111942\/airdrop-farming-768x625.webp 768w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/3\/2025\/10\/20111942\/airdrop-farming-450x366.webp 450w\" sizes=\"auto, (max-width: 878px) 100vw, 878px\"><\/figure><h2 class=\"wp-block-heading\"><strong>Les exceptions qui r\u00e9sistent : produit vivant et r\u00e8gles lisibles<\/strong><\/h2><span class=\"replacer\"><\/span><p>Il existe des contre-exemples. Quand le produit fonctionne d\u00e9j\u00e0 et attire une base d\u2019utilisateurs engag\u00e9s, <strong>l\u2019airdrop sert de pont vers un usage r\u00e9current<\/strong>. La tr\u00e9sorerie du protocole finance la profondeur de march\u00e9, la liquidit\u00e9 se renforce et le prix respire. Et un calendrier de d\u00e9verrouillage pr\u00e9visible, expliqu\u00e9 d\u00e8s le d\u00e9part, r\u00e9duit l\u2019incertitude.<\/p><p>Autre point, la <strong>qualit\u00e9 du listing<\/strong>. Un carnet anim\u00e9 par des market makers cr\u00e9dibles, des pools suffisamment dot\u00e9s et une communication honn\u00eate sur les risques aident \u00e0 traverser la fen\u00eatre critique des 30 \u00e0 90 jours. \u00c0 d\u00e9faut, l\u2019airdrop devient un simple \u00e9v\u00e9nement de distribution, vite arbitrable, sans trajectoire d\u2019adoption.<\/p><p>Quelques projets r\u00e9cents se d\u00e9marquent tels que l\u2019airdrop <a href=\"https:\/\/cryptonews.com\/fr\/news\/hyperliquid-jeff-yan-dement-fud\/\">d\u2019Hyperliquid<\/a> en 2024. \u00c0 l\u2019\u00e9poque, le projet avait favoris\u00e9 une d\u00e9marche autour de sa communaut\u00e9 plut\u00f4t que des larges fonds de capital-risque. Cela a cr\u00e9\u00e9 un sentiment d\u2019appartenance au sein de l\u2019\u00e9cosyst\u00e8me, et la valeur du jeton s\u2019est stabilis\u00e9e sur plusieurs mois.<\/p><h2 class=\"wp-block-heading\"><strong>Mode d\u2019emploi pour survivre \u00e0 un airdrop<\/strong><\/h2><span class=\"replacer\"><\/span><p>Avant toute chose, <strong>regarder les fondamentaux<\/strong>. Y a-t-il un produit en service, une traction mesurable, une demande hors sp\u00e9culation ?<\/p><p>Ensuite, <strong>lire la tokenomics<\/strong>. Quelle FDV au listing, quel flottant r\u00e9el, quels d\u00e9verrouillages \u00e0 venir, qui d\u00e9tient quoi et quand ?<\/p><p>Puis, inspecter la liquidit\u00e9. Profondeur des carnets, taille des pools, pr\u00e9sence de LP\/MM identifi\u00e9s\u2026 Enfin, surveiller les volumes et la dispersion des d\u00e9tenteurs au fil des semaines. Si la concentration s\u2019accro\u00eet pendant que l\u2019activit\u00e9 utilisateur d\u00e9cro\u00eet, le signal est mauvais. Il faut aussi se m\u00e9fier des promesses de \u00ab recovery \u00bb apr\u00e8s une forte baisse. Les arnaques prosp\u00e8rent sur la frustration.<\/p><hr class=\"wp-block-separator has-alpha-channel-opacity\"><p>Source : <a href=\"https:\/\/dappradar.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">DappRadar<\/a><\/p><hr class=\"wp-block-separator has-alpha-channel-opacity\"><p>Pour aller plus loin sur le sujet :<\/p><ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/cryptonews.com\/fr\/news\/aster-explose-robinhood-survivra-airdrop-570m\/\">ASTER explose sur Robinhood, mais survivra-t-il \u00e0 son airdrop de 570M$ ?<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/cryptonews.com\/fr\/news\/6-airdrops-crypto-octobre-2025\/\">6 airdrops crypto \u00e0 ne pas manquer en octobre 2025<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/cryptonews.com\/fr\/news\/airdrops-crypto-protocoles-farming-fin-2025\/\">Airdrops crypto : quels protocoles \u00e0 utiliser pour la fin d\u2019ann\u00e9e 2025 ?<\/a><\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>L\u2019airdrop est un gros levier marketing. Mais sa performance ne suit pas toujours. D\u2019apr\u00e8s une \u00e9tude r\u00e9cente, ce sont pr\u00e8s de 88 % des tokens distribu\u00e9s qui chutent au cours des 90 premiers jours. Le constat interroge la m\u00e9canique d\u2019allocation, la valorisation au listing et l\u2019utilit\u00e9 r\u00e9elle des projets. L\u2019effet cadeau s\u2019\u00e9puise vite si l\u2019\u00e9conomie [&hellip;]<\/p>\n","protected":false},"author":697,"featured_media":171410,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9,1],"tags":[],"editors":[2551],"sponsored_companies":[],"class_list":["post-171398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-news","editors-julien-leroy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Airdrops : 88 % finissent dans le rouge en 90 jours<\/title>\n<meta name=\"description\" content=\"L\u2019airdrop est un gros levier marketing, mais sa performance ne suit pas : 88 % des tokens distribu\u00e9s chutent au cours des 90 premiers jours.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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