CoinGecko analysis shows $26.6 billion in Crypto Airdrops over 4 years.

A significant increase in crypto airdrops between 2020 and 2023, according to analysis from CoinGecko.

The top 50 airdrops, led by giants like Uniswap, Apecoin and dYdX, distributed $26.6 billion in tokens during that period.

Uniswap's historic $6.43 billion endowment

Uniswap (UNI) He led the pack that made headlines on September 16, 2020 with a historic $6.43 billion airdrop.

Reviving the crypto airdrop model first seen by Auroracoin in 2014, the Uniswap distribution, calculated at an all-time high (ATH) of $42.88, became the cornerstone event of DeFi Summer.

This spread has rewarded the user base and renewed interest in decentralized finance (DeFi) platforms.

1/ What are the biggest crypto airdrops?

Our research shows that the 50 airdrops distributed a total of $26.6 billion worth of tokens between 2020 and 2023, based on high estimates.

Read the full study: pic.twitter.com/kada7hWzvq

— CoinGecko (@coingecko) December 26, 2023

Not far behind, Apecoin (APE) had its second largest airdrop on March 17, 2022, giving away $3.54 billion in tokens.

This move was particularly important to Yoga Labs ecosystem participants, as it was equivalent to receiving Bored Up Yacht Club NFT for free at the floor price at the time.

Following closely behind, dYdX (DYDX) distributed $2.00 billion in tokens on September 8, 2021, although the total value will remain for a five-year transition period.

The rise and evolution of Crypto Airdrops

In the year 2021 emerged as a popular year, with 18 of the 50 airdrops in 2020 showing a significant increase compared to the top five. However, the trend is seen to decline in 2022 and 2023, possibly due to the crypto winter.

Even so, the total value of airdrops will grow from $7.28 billion in 2020 to $7.46 billion in 2022, with new entrants such as BONK entering the top 10.

In the year By 2023, the total value of airdrops was $4.56 billion, dominated by major players such as Arbitrum (ARB), which distributed $1.97 billion worth of tokens.

Celestia (TIA) and Blur's initial airdrops followed, focusing on rewarding contributors to their ecosystem rather than broad user bases. This strategy has shifted from the earlier trend of broad token distribution to more targeted approaches.

Meanwhile, Blur's two airdrops in 2023, especially the second airdrop estimated at $0.19 billion, have shown its potential to sustain the platform's presence.

This approach has brought a new dimension to the airdrop strategy by consistently highlighting the importance of user engagement.