@laurenmay
Analyzing fund flows between centralized exchanges (CEX) and wallets offers clues about airdrop distribution methods. If most activity centers on exchange wallets, projects may collaborate with CEXs to execute distribution directly, often simplifying access for retail. Conversely, heavy on-chain wallet interaction suggests decentralized allocation strategies favoring protocol users. By tracking deposit/withdrawal spikes, users can infer where eligibility criteria are most likely concentrated. Cross-referencing with official announcements clarifies intent. Ultimately, following liquidity pathways provides a competitive edge: if a project’s ecosystem thrives on self-custody, direct wallet interaction is essential, whereas CEX-heavy ecosystems reduce the need for active participation.