CoinGecko Report: $26.6 Billion Worth of Tokens Distributed in Top 50 Crypto Airdrops
A recent report from CoinGecko highlights the success of the top 50 crypto airdrops, revealing that they have collectively dispensed tokens valued at $26.6 billion between 2020 and 2023.
Uniswap Takes the Lead with $6.43 Billion Airdrop
Uniswap (UNI) holds the record for the largest crypto airdrop, according to CoinGecko’s report. On September 16, 2020, at its all-time high token price of $42.88, Uniswap distributed $6.43 billion worth of UNI.
Apecoin Rewards Yuga Labs Ecosystem Owners with $3.54 Billion Airdrop
Apecoin (APE) follows closely behind Uniswap, having distributed $3.54 billion worth of APE on March 17, 2022, at its ATH token price of $23.63. This airdrop specifically benefited Yuga Labs ecosystem owners with a generous allocation of up to 10,950 tokens.
dYdX Secures Third Position with $2 Billion Airdrop
dYdX (DYDX) secured the third spot in the crypto airdrop rankings by distributing $2 billion worth of DYDX on September 8, 2021, at its ATH token price of $26.80. However, the complete value of the DYDX airdrop is subject to a prolonged vesting period spanning five years.
Uniswap, Apecoin, and dYdX Contribute to Over Half of Top 50 Airdrops’ Value
The report concludes that Uniswap, Apecoin, and dYdX play a significant role in the cumulative value of the top 50 biggest crypto airdrops. Together, their airdrops amount to $11.99 billion, comprising 45.1% of the total value. The remaining airdrops in the top 50 range from $1.97 billion.
Jito’s Airdrop and Decline in Major Crypto Airdrops
In recent news, Jito, a Solana-based liquid staking protocol, initiated an anticipated airdrop by dispersing 90 million JTO governance tokens among its user base, following the model set by Uniswap. However, the report also notes a decline in major crypto airdrops during 2022 and 2023, with only 14 and 13 airdrops respectively securing positions in the top 50 rankings.
Hot Take: Crypto Airdrops Continue to Attract Attention but Show Signs of Decline
The CoinGecko report reveals the significant value generated by the top 50 crypto airdrops over the past few years. While Uniswap, Apecoin, and dYdX have contributed significantly to this value, there is a noticeable decline in major crypto airdrops overall. This suggests that while crypto airdrops continue to attract attention within the industry, they may be losing some momentum as fewer projects secure positions in the top rankings.
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