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Wormhole Airdrop on Solana Simply Days Away as Exchanges Prep Listings

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Cross-chain protocol Wormhole will launch its W governance token on Wednesday, with a number of cryptocurrency exchanges saying plans to listing the token shortly after the airdrop declare opens as much as eligible customers.

Wormhole beforehand introduced particulars for the W token airdrop, with greater than 400,000 whole wallets eligible to take part within the declare. In whole, 617.3 million W tokens have been allotted for the preliminary neighborhood and ecosystem airdrop, which is able to reward early customers on Solana, Ethereum, and different chains, together with varied crypto communities.

Late final week, Wormhole declared by way of a Twitter (aka X) submit that April 3 might be “Wormhole Wednesday,” and that the W airdrop declare will start at 11:30am UTC.

Now it seems that the token will have the ability to commerce very quickly thereafter, as a number of exchanges introduced Monday that they plan to listing the W token for spot buying and selling at 12pm UTC on Wednesday. The listing of exchanges contains Bitget, OKX, and Gate.io to date, although additional exchanges are more likely to be a part of the listing.

W

Wormhole Wednesday

3-April-2024

11:30AM UTC pic.twitter.com/CjdmT1i8PE

— Wormhole (@wormhole) March 28, 2024

Given the dimensions of the airdrop and prominence of the protocol in query, W is more likely to be one of many 12 months’s largest token launches thus far. The W token is launching as a local Solana SPL20 token, however might be expanded to help Ethereum’s ERC-20 token customary as soon as launched, representing the cross-chain nature of the protocol.

W is at present priced at $1.65 in pre-market buying and selling by way of Whales Market, and Wormhole has mentioned that 1.8 billion W tokens might be circulating at launch (out of 10 billion in whole).

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If that worth holds on till the precise token launch on Wednesday, then the token would launch with a market cap of almost $3 billion. That may make it the Fiftieth-largest cryptocurrency, as of this writing, per knowledge from CoinGecko.

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