Complete worth of crypto airdrops this 12 months reached $4.5 billion, in contrast with $7.4 billion in 2022.
Cryptocurrencies have rebounded this 12 months versus final 12 months’s bear market, however airdrops are nonetheless lagging.
Web3 tasks have distributed $4.56 billion value of tokens, valued at their all-time excessive, a 40% drop from 2022, in line with Coingecko.
Regardless of this 12 months’s drop, 13 of the highest 50 airdrops passed off in 2023, with Arbitrum main this 12 months’s airdrop rating at $1.9 billion, touchdown in 4th place all-time.
ARB and TIA
The ARB token was distributed to customers of the Arbitrum community in March, with its all-time excessive peaking at $8.67 throughout the identical month. The token has dropped 85% because the airdrop buying and selling right now for $1.36, with a market capitalization of $1.37 billion.
The second-largest airdrop was Celestia’s token launch. The Layer 1 chain distributed $728 million of TIA tokens this 12 months. The TIA token has gained 480% since its airdrop, from $2.08 to $12.17 right now and $1.77 billion in market cap.
Final 12 months noticed essentially the most “free cash” given away, with $7.46B distributed, in line with Coingecko. The determine is just barely larger than earlier years, with $7.43B and $7.28B airdropped in 2021 and 2020, respectively.
Apecoin and BONK
The largest airdrop final 12 months was Apecoin, which gave away $3.54 billion in APE tokens, rating second for many worth distributed. For the reason that airdrop, APE has dropped 80% in value, buying and selling right now for $1.72, with a $630 million market cap.
BONK, a token that has been having fun with a latest surge in value amid ongoing Solana season, commanded second for many worth distributed. It gave away $1.32 billion, and the token is up 22,000% this 12 months.
Automated market maker Uniswap has been the largest airdrop in historical past, with $6.4B value of UNI distributed on Sep. 16.
Different notable airdrops this 12 months have been Blur’s, though the venture produced two completely different airdrops handing out $818M complete; and Jito, a venture that distributed $312M, briefly overtaking Lido’s valuation on launch.
For these looking out for upcoming airdrops, factors have turn out to be the principle bellwether. Rainbow, a non-custodial pockets, has introduced a factors system to reward MetaMask customers. Jito has additionally not too long ago introduced a factors system, in addition to MarginFi, and Orbiter.
