Liquidity plays a crucial role in determining the market performance of airdrop tokens. High liquidity allows for smoother buying and selling, reducing price volatility and improving market stability. Tokens with low liquidity often experience sharp price swings, which may deter long-term investors. Additionally, high liquidity indicates active market participation and demand, which can help maintain or increase a token’s value. Conversely, low liquidity can lead to difficulties in trading, making it harder to exit positions without impacting the price.