Which Airdrop Was the Largest?
Uniswap (UNI) holds the record for the largest crypto airdrop, distributing $6.43 billion worth of UNI tokens on September 16, 2020, based on its all-time high (ATH) price of $42.88. This landmark event during DeFi Summer reignited interest in the airdrop model, pioneered by Auroracoin in 2014. Since then, hundreds of projects have adopted this strategy to reward users.
Apecoin (APE) executed the second-largest airdrop, distributing $3.54 billion worth of APE tokens on March 17, 2022 (ATH: $23.63). Eligible Yuga Labs ecosystem owners received up to 10,950 tokens—equivalent to a free Bored Ape Yacht Club NFT (then valued at ~$200,099) if claimed and sold at peak prices.
dYdX ranks third, allocating $2 billion worth of DYDX tokens on September 8, 2021 (ATH: $26.80). Notably, its full value unlocks gradually over five years, emphasizing long-term participation rewards.
👉 Discover how top airdrops reshape crypto economies
Key Takeaways:
- Uniswap, Apecoin, and dYdX collectively account for 45.1% of the top 50 airdrops ($11.99 billion total).
- Remaining airdrops ranged from $50 million to $1.97 billion.
When Did Airdrops Peak?
- 2021: 18 major airdrops (peak year)
- 2020: 5 airdrops
- 2022-2023: Declined to 14 and 13 airdrops respectively, likely due to bear market conditions.
Annual ATH valuations:
- 2020: $7.28 billion
- 2022: $7.46 billion (boosted by Bonk’s late-year surge)
- 2023: $4.56 billion (61.1% lower than 2022)
2023’s Notable Airdrops
- Arbitrum (ARB): $1.97 billion distributed March 23, 2023 (ATH: $1.69). Its ecosystem TVL surged 147.2% pre-airdrop.
- Celestia (TIA): $730 million on October 31, 2023 (ATH: $13.99). Targeted developers and active Cosmos/Ethereum users.
- Blur (First Drop): $450 million on February 14, 2023 (ATH: $1.24), rewarding NFT platform engagement.
Together, these three represented 69.9% of 2023’s total airdrop value. Remaining distributions ranged from $16M to $372M.
👉 Learn strategic airdrop farming techniques
FAQ Section
Q: How are crypto airdrop values calculated?
A: Values reflect token distributions multiplied by their highest-ever prices (ATH).
Q: Why did airdrop frequency drop post-2021?
A: Bear markets reduce project incentives to distribute tokens amid lower liquidity and user engagement.
Q: Can I still claim past airdrops?
A: Most have strict eligibility windows, but monitoring emerging projects early can yield future opportunities.
Q: What’s the risk in airdrop farming?
A: Over-saturation and "wash usage" may lead to disqualification. Authentic protocol interaction is key.
Final Notes
The top 50 airdrops demonstrate crypto’s community-driven growth, with Uniswap’s 2020 distribution remaining unmatched. While 2021 saw peak activity, 2023’s Arbitrum and Celestia highlights Layer 2 and modular blockchain innovations. For forward-looking participants, 👉 exploring nascent ecosystems remains a high-potential strategy.