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CoinGecko report: Top 50 crypto airdrops total value reaches $26.6 billion

CoinGecko report: Top 50 crypto airdrops total value reaches $26.6 billion

Cointime2023/12/26 04:08
By: Cointime
UNI-0.21%BONK-0.33%DYDX-0.12%

According to CoinGecko on December 26th, the total value of the largest 50 cryptocurrency airdrops since 2020 has reached 26.6 billion US dollars. The report shows that the largest airdrop event was conducted by Uniswap (UNI) on September 16, 2020, with a value of UNI tokens airdropped worth as high as 6.432 billion US dollars (calculated based on its historical high price of 42.88 US dollars).

Apecoin (APE) ranks second with a airdrop value of 3.544 billion US dollars, which occurred on March 17, 2022, calculated based on its historical high price of 23.63 US dollars. The airdrop value of dYdX (DYDX) is 2 billion US dollars, ranking third, which occurred on September 8, 2021, calculated based on its historical high price of 26.80 US dollars.

Since 2020, 18 airdrop events have occurred in 2021, which is significantly higher than the 5 in 2020. The major airdrop events in 2022 and 2023 are 14 and 13 times respectively. This decreasing trend may be related to the cryptocurrency winter bear market, which may have suppressed the enthusiasm for projects to conduct airdrops.

Looking at the total airdrop value calculated based on the historical high price, it increased from 7.28 billion US dollars in 2020 to 7.46 billion US dollars in 2022. It is worth mentioning that Bonk (BONK), launched at the end of 2022, reached its historical high price of 0.000025 US dollars in December 2023, quickly entering the top ten of the largest airdrop rankings.

In 2023, the total value of airdrops calculated based on the historical high price reached 4.56 billion US dollars, only 61.1% of the value in 2022. However, it should be considered that many tokens introduced to the market during this period are relatively new. Unlike tokens launched from 2020 to 2022, these new tokens in 2023 have not experienced significanT price increases during bull markets, such as the bull market in 2021 and the subsequent NFT bull market in 2022.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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