According to CoinGecko’s ranking of airdrop values based on the all-time high (ATH) prices of tokens, the recent airdrops of TIA, JTO, and BLUR have all created relatively high market values in 2020. (This article is not investment advice.)
Table of Contents:
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Ranking of Highest Airdrop Values
Analysis of Timing for High-Value Airdrops
Compilation of High-Value Airdrops in 2023
Top 50 Airdrop Projects
Participating in Airdrop Projects with Precision
Uniswap’s airdrop scale is unprecedented. On September 16, 2020, in response to Sushiswap’s vampire attack strategy, Uniswap distributed 150 million UNI tokens, which, based on the ATH price of $42.88, had a total value of $6.43 billion.
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With Uniswap’s airdrop, market expectations for DeFi were ignited, marking the prelude to the previous bull market.
The second highest airdrop is Apecoin (APE). Yuga Labs also airdropped 150 million APE tokens on March 17, 2022, with a conversion value of $23.63, resulting in a total airdrop value of approximately $3.54 billion. The maximum number of APE tokens that can be obtained by a single wallet is 10,950 (approximately $250,000), rewarding ecosystem participants.
The third highest airdrop is the token airdrop by decentralized perpetual contract exchange dYdX. The team airdropped 75 million DYDX tokens on September 8, 2021, with a conversion value of $26.8, resulting in a total value of approximately $2 billion.
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Ranking of Top 10 Airdrop Projects from 2020 to 2023
The total value of the top three airdrop projects, Uniswap, Apecoin, and dYdX, is $11.99 billion, accounting for 45.1% of the top 50 high-value airdrop projects in this report.
Among the top 50 airdrop projects in this report, the distribution of high-value airdrops by year is as follows:
2020: 5 airdrops
2021: 18 airdrops
2022: 14 airdrops
2023: 13 airdrops
Although the number of high-value airdrops in recent years is lower compared to 2021, the overall average value is still maintained, indicating that airdrop opportunities have not disappeared, but rather require more careful searching during bear markets.
However, when measuring by total value, the average total value of airdrops from 2020 to 2022 is approximately $7 billion, while the total value of airdrops in 2023 is only around $4.5 billion, accounting for 61.1% of the 2022 airdrop value. It is worth considering that many of the tokens launched during this period are relatively new and have not experienced price increases in a bull market.
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Distribution of Airdrop Values by Year
In 2023, there were a total of 13 high-value airdrops:
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2023 Ranking of High-Value Airdrops
Arbitrum (ARB) had the highest value airdrop in 2023. The team airdropped 1.162 billion ARB tokens on March 23, 2023, with a total value at ATH of $1.97 billion, which is 2.9 times that of its competitor Optimism (OP).
(Arbitrum’s astonishing performance in airdrops, Arbitrum hunters earn $3 million through thousands of addresses)
The second highest value airdrop in 2023 was Celestia (TIA), with a total value of approximately $728 million. The third was the airdrop project of Blur (BLUR), which distributed tokens worth $446 million and $372 million in two separate airdrops and reached a new ATH price of $0.64 after the second airdrop.
This year’s growth in airdrop value is mainly concentrated in the second half of the year. For example, the recently discussed BONK token skyrocketed to a new ATH of $0.000025 in December, quickly ranking among the top 10 largest cryptocurrency airdrops. Other examples include JTO and TIA, which were airdropped in the second half of the year and demonstrated market trends.
As of December 21, 2023, the top 50 cryptocurrency airdrop rankings based on the tokens’ ATH prices are as follows, with almost all of them being well-known projects within the industry:
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Top 50 Airdrop Rankings from 2021 to 2023 (Chain News Editing)
The most important use of this report is not to show off wealth or stir up market sentiment, but to allow readers to objectively assess the future changes in token market values. It provides a more accurate evaluation ability and serves as an important guide for participating in the market, avoiding overly optimistic speculation.
If readers are newcomers or have missed most of the aforementioned airdrop projects, there is no need to be discouraged. They can approach airdrop activities with the appropriate mindset. Participating in the development of the ecosystem through continuous action is already meaningful. If they are real users and use on-chain services based on their own needs, project teams will naturally come to them.
(2024 Airdrop Map | Missed JTO, what other projects still have potential airdrop opportunities?)
(This article is not investment advice.)
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Further Reading
Proposal Approved! Uniswap Will Sell 10 Million UNI Tokens to Sustain Foundation Operations for Two Years
Which DeFi Protocols Made Profits in the Bear Market?