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The year 2023 has been full of positive news and strong narratives for the crypto market. Unlike the previous year, which was plagued by negative events, this year started off with a positive sentiment and witnessed growth along with important events and developments.
Although there were some negative aspects, they were overshadowed by the overall bullish momentum of the market. While there was no euphoria, the year was marked by optimism. Now, let’s analyze the main narratives of the past year, draw conclusions, and make some predictions for the upcoming year.
One of the strongest and most enduring trends of 2023 was the airdrops craze. Although the concept of airdrops has been around for a while, in 2023 it became more popular for hunting early-stage projects in hopes of receiving free tokens. This trend has also shown signs of becoming sustainable and is expected to continue for years to come.
The trend began with the Blur airdrop to traders on the NFT marketplace. However, the real momentum was started by the Arbitrum airdrop, which became the largest airdrops of the year. Nearly $2 billion was distributed among thousands of users who conducted transactions on the network.
The interest in retrodrops remains strong. Fair users and sybil accounts continue to make thousands of transactions daily in projects like LayerZero, zkSync, and others. Additionally, new projects and drop distribution models are emerging.
Paradigm has started a trend with friend.tech and Blast, introducing the use of “points” system for rewards. Users earn airdrop points by making regular transactions, inviting friends, and increasing the TVL (Total Value Locked) of the project. This allows them to move up in the ranking tables and receive a fairer distribution of drops. However, this model does have some drawbacks. It is likely that clever users will find ways to cheat the scoring system.
Around the middle of the year, a highly significant event occurred that had a
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Author: Crypto Daily
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