Notcoin, Hyperliquid, Pudgy Penguins among top crypto airdrops valued at $1.9B

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Mirjan Hipolito

04.01.2025

Notcoin, Hyperliquid, Pudgy Penguins among top crypto airdrops valued at $1.9B — The past year was rich in airdrops

The past year saw a wealth of airdrops. According to BeInCrypto, cryptocurrency projects distributed over $19 billion to the community in 2024.

However, such an impressive figure likely stems from summing up the maximum value of the distributed tokens. In reality, the distributions were at least several times more modest.

Evaluating airdrops is complicated by the fact that many token hunters immediately dumped their tokens on exchanges, drastically reducing their value. For example, the May distribution of 80.2 billion NOT by the Notcoin mini-app, which catalyzed the popularity of tap-to-play games on Telegram, was valued at $1.9 billion in June.

However, after NOT dropped from $0.024 to the current $0.0068, the value of the distributed tokens automatically fell to $545 million, which is still substantial.

Competition for investors

An even higher valuation could have been claimed by Starknet, an Ethereum-based Layer 2 solution, with its airdrop of 700 million STRK tokens.

At an all-time high (ATH) of $3.66, the total value of the distributed tokens would have approached $2.6 billion. However, the current STRK price of $0.53 places the airdrop's value at $370 million.

In November, the Hyperliquid Network airdrop was a strong contender for Airdrop of the Year. The decentralized exchange (DEX) Hyperliquid distributed 31 million HYPE tokens, which reached a peak value of $35 in December, nearing $1.1 billion.

Currently, the price of HYPE has dropped to $24, but even now, the total value of the distributed tokens is close to $750 million.

The Pudgy Penguins airdrop

Among ongoing events is the airdrop of Pudgy Penguins (PENGU) tokens. Over 88 days, the project’s creators plan to distribute half of the total supply of 88.88 billion tokens, or 44.44 billion PENGU, to the community and friendly projects.

At the current PENGU price of $0.042, the total value of this distribution also approaches $1.9 billion. By the end of winter, when the results are finalized, the Pudgy Penguins airdrop could emerge as one of the top contenders for 2025's leading airdrops.

The leading DEX aggregator on Solana, Jupiter, has shared details of the Jupuary 2025 airdrop, during which users at various levels will receive 700 million JUP.

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Notcoin, Hyperliquid, Pudgy Penguins among top crypto airdrops valued at $1.9B

Competition for investors

The Pudgy Penguins airdrop

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