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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

2023’s Crypto Bounty: These Top 13 Airdrops Distributed Over $4 Billion

Samuel Edyme
Samuel Edyme
1 year ago
2 mins read
EigenLayer's Exclusive $15 Billion Token Launch

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Created by industry experts and meticulously reviewed
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023 has emerged as a significant year for crypto airdrops. A recent analysis revealed that out of the 50 most substantial crypto airdrops since 2020, 13 occurred in 2023, collectively distributing roughly $4.56 billion worth of tokens.

These figures are calculated based on the tokens’ values at their respective all-time highs (ATHs), painting a picture of substantial distribution.

The year 2023’s airdrop landscape was less crowded than 2021, which had 18 entries in the top 50, but the impact was notable. A report from CoinGecko highlights this trend shift, contrasting it with the mere 5 airdrops in 2020 and 14 in 2022.

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Arbitrum Leads 2023’s Airdrop Charge

Arbitrum, an Ethereum layer 2 scaling solution, topped the 2023 airdrop chart by distributing ARB tokens valued at $1.96 billion on March 23. This move significantly impacted its total value locked (TVL), which surged by 147% during the anticipation period.

This airdrop alone constituted a substantial portion of the total value distributed in the year. Celestia, with its TIA tokens, followed suit, distributing $728 million on October 31.

The airdrop targeted a diverse group, including developers, Ethereum rollup users, and stakeholders in the Cosmos Hub and Osmosis.

Blur’s first airdrop, which handed out $446 million worth of BLUR on February 14, ranked third. The success of this initial airdrop set the stage for a second, which distributed an additional $327 million, ranking fourth.

Crypto airdrops in 2023.
Crypto airdrops in 2023. | Source: CoinGecko

A Closer Look At 2023’s Crypto Airdrop Trends

While Arbitrum, Celestia, and Blur’s first airdrop made up 69.9% of the total airdrop value in 2023, the year saw diverse contributions across the sector. Jito, Worldcoin, Aidoge, and other projects followed, each adding to the cumulative value and diversity of the airdrops.

The total value distributed in 2023 may have seen a decline compared to 2022, but it’s essential to consider the market cycles these newer tokens have experienced.

Unlike earlier tokens which saw the 2021 bull market and the 2022 non-fungible token (NFT) market surge, many of 2023’s airdropped tokens are yet to undergo a full bull market cycle.

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In terms of performance, Arbitrum and Worldcoin have shown significant gains, with ARB rising by 22% in the past week to trade at $1.33, at the time of writing and WLD by over 60% in the past two weeks to trade at $3.86, at the time of writing.

Arbitrum (ARB) price chart on TradingView
Arbitrum (ARB) price is moving sideways on the 4-hour chart. Source: ARB/USDT on TradingView.com

Celestia and Blur follow closely in terms of price appreciation, with both tokens up by 10.7% and 5.7% respectively in the past 7 days.

Conversely, Jito, despite being the newest among them, has seen a dip in its value down by 9.4% in the past two weeks but shows signs of recovery in the past week, up by 9%, illustrating the dynamic and often unpredictable nature of token valuations post-airdrop.

Featured image from iStock, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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