Airdrop reshaping blockchain interaction, distributing nearly $15 billion to cryptocurrency users in 2024.
Prize boost through Airdrop
Airdrops have become a powerful marketing tool for cryptocurrency projects, with $14.91 billion distributed in 2024, according to on-chain data from Dropstab.
Leading is Hyperliquid, distributing $1.34 billion to over 90,000 users. Following closely is Starknet with $1.33 billion through 700 million tokens, reaching approximately 1.3 million wallet addresses.
The top 5 also includes Pengu $PENGU ($1.15 billion), Wormhole $W ($896 million), and Jupiter $JUP ($891 million), marking the most profitable airdrops of the year.
Of the $14.91 billion disbursed through airdrops, $4.22 billion (28.3%) was allocated to layer 2 projects, $3.31 billion (22.2%) was allocated to decentralized finance (defi) projects, and $2.63 billion (17.6%) was allocated to layer 1 projects.
Game and memecoin projects, liquidity staking, and artificial intelligence (AI) have awarded tokens worth $2.28 billion, $1.27 billion, and $373 million, respectively.
Airdrops have been used by blockchain projects to enhance community development and user engagement. By meeting the pre-established eligibility requirements, users can gain significant benefits, with some even receiving substantial income. These requirements often include promoting the project or participating in key features of the project.
For example, a large number of cryptocurrency enthusiasts on X shared their excitement about the significant airdrop allocation of HYPE, the native token of Hyperliquid. X user, @0xFinish claimed to have received $100,000 in HYPE and called it "the best trade of my life."
The increase in high-quality airdrops is evidence of how important airdrops are to the cryptocurrency ecosystem, making them not just a marketing strategy but also a significant move towards user engagement, decentralized ownership, and broader blockchain usage.
