Top 50 Crypto Airdrops: Who is the biggest airdropper? When are the biggest airdrops?

Who is the biggest airdrop?

Uniswap (UNI) was the largest crypto airdrop , distributing $6.43 billion worth of UNI at its all-time high (ATH) of $42.88 on September 16, 2020. Uniswap’s airdrop was one of the biggest events of DeFi Summer, reigniting enthusiasm for the cryptocurrency airdrop model that was first introduced in 2014, when the “Iceland’s Bitcoin” Auroracoin was airdropped to the country’s citizens. Since then, hundreds of crypto airdrops have followed suit, airdropping tokens to users of their protocols.

Apecoin (APE) conducted the second largest crypto airdrop , distributing $3.54 billion worth of APE on March 17, 2022, at its all-time high price of $23.63. Apecoin's airdrop rewards Yuga Labs ecosystem owners with up to 10,950 tokens, which is worth $258,737 if claimed and sold at $23.63. Recipients essentially get a free Bored Ape Yacht Club NFT, which had an average reserve price of around $200,099 before the APE cryptocurrency airdrop.

DYDX is the third largest crypto airdrop , distributing $2 billion worth of DYDX on September 8, 2021, at its all-time high of $26.80. However, the full DYDX airdrop value is unlocked over five years, with the release ratio gradually increasing. Therefore, while the initial allocation looks impressive, its full value can only be realized through extended release.

Uniswap, Apecoin, and dYdX airdrops totaled $11.99 billion, accounting for 45.1% of the top 50 largest crypto airdrops. The remaining crypto airdrops in the top 50 largest crypto airdrops ranged from $0.5 billion to $1.97 billion.

When do the most airdrops occur?

18 of the top 50 cryptocurrency airdrops took place in 2021 , compared to just 5 major airdrops in 2020. 2022 and 2023 saw fewer major cryptocurrency airdrops , with 14 and 13 crypto airdrops, respectively, making the top 50. This decline can be attributed to the crypto bear market, which could discourage projects from conducting cryptocurrency airdrops.

From 2020 to 2022, the total value of cryptocurrency airdrops at ATH prices increased from $7.28 billion to $7.46 billion. Notably, Bonk (BONK), launched in late 2022, soared to an ATH of $0.000025 in December 2023, quickly becoming one of the top 10 largest cryptocurrency airdrops.

In 2023, the total value of cryptocurrency airdrops reached $4.56 billion, which is only 61.1% of the value of cryptocurrency airdrops in 2022. However, it is important to consider that many of the tokens launched during this period are relatively new to the market. Unlike the tokens launched between 2020 and 2022, these newer tokens in 2023 have not yet experienced a major surge in bull market prices, such as the 2021 bull market and the subsequent 2022 NFT bull market.

Cryptocurrency Airdrops 2023

Of the airdrops conducted in 2023, 13 were in the top 50. $4.56 billion worth of tokens were distributed in 2023 at ATH price.

Arbitrum (ARB) was the largest cryptocurrency airdrop in 2023, distributing $1.97 billion worth of ARB on March 23, 2023, at its all-time high of $1.69. Notably, Arbitrum's cryptocurrency airdrop was 2.9 times larger than its closest competitor, Optimism (OP), which distributed $670 million worth of OP on May 31, 2022. The Arbitrum ecosystem flourished in anticipation of the ARB cryptocurrency airdrop, with its TVL growing 147.2% from $1.49 billion on January 1, 2023 to a peak of $3.68 billion on May 6, 2023.

Celestia (TIA) was the second largest cryptocurrency airdrop in 2023 , distributing $730 million worth of TIA on October 31, 2023, at its token price all-time high of $13.99. Compared to other cryptocurrency airdrops, the TIA cryptocurrency airdrop does not include a "farming" mechanism. Instead, the TIA cryptocurrency airdrop targets specific beneficiaries: developers and researchers who contribute to public goods and basic protocol infrastructure, the most active users on Ethereum Rollups, and stakers and IBC relayers associated with the Cosmos Hub and Osmosis.

Blur's first airdrop was the third largest cryptocurrency airdrop of 2023 , distributing $450 million worth of BLUR on February 14, 2023, at its all-time high of $1.24. The cryptocurrency airdrop was distributed to users based on their engagement with the Blur platform, which acts as an aggregator of NFT listings from various marketplaces. Following the success of the first cryptocurrency airdrop, Blur attracted a lot of liquidity and sparked the interest of cryptocurrency airdroppers, laying the foundation for the much-anticipated second airdrop.

Notably, BLUR only reached a price of $0.64 after the second crypto airdrop, bringing the total value of its second crypto airdrop to $190 million.

Arbitrum, Celestia, and Blur’s first airdrops combined account for 69.9% of the total cryptocurrency airdrops ($4.56 billion) distributed in 2023. The remaining largest cryptocurrency airdrops in 2023 ranged in value from $16 million to $372 million.

Top 50 Largest Cryptocurrency Airdrops

As of December 21, 2023, the top 50 cryptocurrency airdrops ranked by token all-time high price: