Thu 13 Jun 2024 ▪
4
min of reading ▪ by
Crypto airdrops continue to make a splash in 2024, attracting more and more attention in the cryptocurrency universe. Several projects stand out particularly in this trend, with downright impressive figures that suggest significant gains for users. As the year progresses, the enthusiasm around airdrops shows no signs of slowing down, promising many more surprises and opportunities for participants.
Rain of billions in the crypto industry
Crypto airdrops have already distributed more than $4 billion to users in 2024, while the year is still far from over. Airdrops are essentially free distributions of tokens by crypto projects, often intended to reward early users or transfer governance to community members. Among the most notable this year, Jupiter, Starknet, and Notcoin each stand out by distributing around $1 billion in tokens. Other crypto projects, like Wormhole, Ether.fi, FriendTech, and Wen, based on Solana and Ethereum blockchains, have also participated in this financial boon by distributing substantial amounts.
Historically, some of the largest airdrops have been carried out by well-known projects such as Uniswap, Apecoin, and dYdX. According to a CoinGecko report, the total value of airdrops up to December 2023 was $26.6 billion, considering the highest prices of the tokens. Including the 2024 airdrops at their maximum values, the total amount reaches $34 billion. These figures not only illustrate the scale of the airdrop phenomenon but also their significant impact on the crypto ecosystem.
Many opportunities to come in 2024
The year 2024 still holds great opportunities for crypto enthusiasts, as several airdrops are planned for the coming months. As early as next week, Ethereum’s Layer 2 network, ZKsync, will carry out its long-awaited airdrop. In June, it will be the turn of Zeta Markets, a decentralized exchange based on Solana, to distribute its tokens.
Simultaneously, the EigenLayer restaking protocol on Ethereum has already started its airdrop, although the tokens will only be transferable later this year. Additionally, LayerZero, a cross-chain messaging protocol, is also preparing to launch its airdrop, although the exact date has not yet been set. These events show that crypto projects continue to use airdrops as an effective way to engage their community and encourage adoption.
These free distributions of tokens represent not only a boon for users but also a challenge for projects, which must ensure the fairness of the distribution. Indeed, with the increase of airdrop farmers, those users attempting to game the system with multiple wallets, selection criteria are becoming increasingly stringent. Despite these challenges, airdrops remain a popular strategy for crypto projects, offering both significant financial rewards and increased community participation.
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Diplômé de Sciences Po Toulouse et titulaire d’une certification consultant blockchain délivrée par Alyra, j’ai rejoint l’aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l’économie, j’ai pris l’engagement de sensibiliser et d’informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu’elle offre. Je m’efforce chaque jour de fournir une analyse objective de l’actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.