Summary
Crypto airdrops, which involve distributing free tokens to users, have seen a drop in value this year compared to 2022. Web3 projects have distributed $4.56 billion worth of tokens in airdrops, a 40% decrease from the previous year. However, 13 of the top 50 airdrops took place in 2023, with Arbitrum leading the ranking at $1.9 billion. The ARB token, distributed by Arbitrum, has dropped 85% since its airdrop. Celestia’s token launch was the second-largest airdrop, with $728 million worth of TIA tokens distributed. Last year saw the highest value of airdrops at $7.4 billion. Notable airdrops this year include Blur’s and Jito’s. Points systems have become popular for upcoming airdrops, with projects like Rainbow, Jito, MarginFi, and Orbiter implementing them.
Key Points
1. The total value of crypto airdrops in 2023 reached $4.5 billion, a significant decrease from the $7.4 billion distributed in 2022.
2. Web3 projects distributed $4.56 billion worth of tokens through airdrops, representing a 40% drop compared to the previous year.
3. Despite the overall decline, 13 of the top 50 airdrops occurred in 2023, with Arbitrum’s airdrop ranking fourth all-time at $1.9 billion.