2023: A Significant Year for Crypto Airdrops
A recent analysis revealed that 2023 witnessed a significant number of crypto airdrops. Out of the 50 most substantial airdrops since 2020, 13 occurred in 2023, distributing approximately $4.56 billion worth of tokens. These figures are based on the tokens’ values at their respective all-time highs (ATHs), indicating substantial distribution.
Arbitrum Takes the Lead
Arbitrum, an Ethereum layer 2 scaling solution, topped the 2023 airdrop chart by distributing ARB tokens valued at $1.96 billion. This airdrop had a significant impact on Arbitrum’s total value locked (TVL), which increased by 147% during the anticipation period. Celestia followed suit with its TIA tokens, distributing $728 million to various stakeholders.
Diverse Contributions in 2023
While Celestia and Blur’s first airdrop constituted a large portion of the total value distributed in 2023, there were also contributions from other projects like Jito, Worldcoin, and Aidoge. Although the total value distributed in 2023 may have declined compared to the previous year, it is important to consider the market cycles these newer tokens have yet to experience.
Performance of Airdropped Tokens
Some of the airdropped tokens have shown significant gains in terms of performance. Arbitrum’s ARB has risen by 22% in the past week, while Worldcoin’s WLD has increased by over 60% in the past two weeks. Celestia and Blur have also experienced price appreciation.
Hot Take: A Successful Year for Crypto Airdrops
2023 proved to be a successful year for crypto airdrops, with a significant number of distributions and notable performance among the airdropped tokens. Despite the decline in total value compared to the previous year, the diversity and potential for future market cycles suggest that airdrops will continue to play a significant role in the crypto industry.
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