I wrote a piece of code to analyze all projects that ran a pre-TGE campaign on @KaitoAI.

For each, I used an API to fetch the launch price, ATH, and current price. Then I run a simple script to structure the data and better understand how prices evolved over time.

The main question is, are these projects high-quality? Is it better to hold airdrops or sell them immediately after receiving them?
If we look at price performance from launch to now, most tokens are in the red. The majority are down between -50% and -90%. 24 out of 28 tokens show negative performance, and only 4 are positive.
This needs to be put into context. Current market conditions are rough; most tokens have dumped, not just those launched via Kaito.

Another key metric to look at is price performance from launch to ATH. It gives a much better signal on whether holding Kaito airdrops makes sense.

The answer is mostly yes. Out of the 28 tokens analyzed, only 3 never moved above their launch price. 11 out of 28 gained between 100% and 200%, and 5 out of 28 reached gains of over 200%.
The distribution is healthy, with an average launch-to-ATH performance of +100%.
Patience matters. Dumping airdrop immediately after launch is a bad idea; waiting for a 2x or even 3x around ATH is achievable.

If we only look at launch-to-now performance, it’s easy to conclude these are low-quality projects. But given that the entire market is down, not just Kaito-launched tokens, it’s hard to draw that conclusion from that metric alone.