bitcoin
Bitcoin (BTC) $ 63,949.13
ethereum
Ethereum (ETH) $ 3,053.96
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 556.53
xrp
XRP (XRP) $ 0.513543
cardano
Cardano (ADA) $ 0.478045
usd-coin
USDC (USDC) $ 1.00
matic-network
Polygon (MATIC) $ 0.678487
binance-usd
BUSD (BUSD) $ 0.999935
dogecoin
Dogecoin (DOGE) $ 0.15532
okb
OKB (OKB) $ 54.74
polkadot
Polkadot (DOT) $ 6.73
shiba-inu
Shiba Inu (SHIB) $ 0.000023
tron
TRON (TRX) $ 0.109649
uniswap
Uniswap (UNI) $ 7.58
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 63,963.14
dai
Dai (DAI) $ 0.999814
litecoin
Litecoin (LTC) $ 81.99
staked-ether
Lido Staked Ether (STETH) $ 3,051.58
solana
Solana (SOL) $ 142.46
avalanche-2
Avalanche (AVAX) $ 35.13
chainlink
Chainlink (LINK) $ 13.96
cosmos
Cosmos Hub (ATOM) $ 8.22
the-open-network
Toncoin (TON) $ 6.07
ethereum-classic
Ethereum Classic (ETC) $ 26.24
leo-token
LEO Token (LEO) $ 5.77
filecoin
Filecoin (FIL) $ 6.19
bitcoin-cash
Bitcoin Cash (BCH) $ 477.32
monero
Monero (XMR) $ 117.33
bitcoin
Bitcoin (BTC) $ 63,949.13
ethereum
Ethereum (ETH) $ 3,053.96
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 556.53
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.513543
binance-usd
BUSD (BUSD) $ 0.999935
dogecoin
Dogecoin (DOGE) $ 0.15532
cardano
Cardano (ADA) $ 0.478045
solana
Solana (SOL) $ 142.46
matic-network
Polygon (MATIC) $ 0.678487
polkadot
Polkadot (DOT) $ 6.73
tron
TRON (TRX) $ 0.109649

Wormhole token slides 24% earlier than recovering barely following airdrop

Must Read

The cross-chain messaging protocol Wormhole opened airdrop claims for its governance token, named W, Wednesday morning.

Some recipients celebrated so-called Wormhole Wednesday by cashing out on their allotment, main W’s worth to fall 24% inside a number of hours of the token starting to commerce, in accordance with CoinGecko. The token would shortly get well although, settling at a smaller dip from its opening worth by press time.

6.78% of W’s provide was put aside for the airdrop, an allocation price roughly $855 million at present costs.

Learn extra: Wormhole’s W airdrop to ‘acknowledge and reward’ devoted customers

Wormhole is a multi-chain protocol, nevertheless it initially launched W as an SPL token on Solana. The protocol facilitates the motion of belongings and knowledge between blockchains.

The undertaking cited the blockchain’s “scalability, low transaction prices, and fast processing occasions.” It should quickly develop to Ethereum and its layer-2s.

It was not instantly clear how a lot W had been claimed Wednesday morning, however Wormhole’s blockchain explorer reveals a swift uptick in transactions following the airdrop.

W is supposed to function a Wormhole governance token, a typical use case for group tokens. The forthcoming Wormhole DAO might be a multi-chain DAO working on Solana, Ethereum and layer-2s.

Learn extra: Why cross-chain messaging is gaining popularity

Apparently, W’s post-launch dump wasn’t the common development amongst airdrops this week. The yield-bearing stablecoin undertaking Ethena noticed its ENA governance token double in worth after being listed on exchanges Tuesday.

W and ENA launched with similarly-gaudy fully-diluted valuations. Wormhole’s group will hope that W can observe the lead of Ethena’s group token, although the early returns aren’t promising.

See also  Solana Is “Centralized Rubbish,” Says Crypto Business Chief

“Discover how quiet the Wormhole airdrop is in comparison with the Ethena airdrop. All the timeline isn’t speaking about it,” a developer at Delegate wrote on X.

Again in November, Wormhole introduced it had reached a $2.5 billion valuation in a $225 million funding spherical.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Bitcoin Miners Ramp Up Hashrate as Halving Nears, Community Hits 653...

Simply earlier than the upcoming block reward halving, with solely 72 blocks left till reaching block top 840,000, bitcoin...

More Articles Like This