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The market valuation of the Wormhole token airdrop is approaching $3 billion

Premarket, Wormhole (W) token is trading between $2.15 and $2.48, according to the exchange Bybit. In this case, the market valuation of the airdrop, whose share is 1.1 billion W, is up to $2.78 billion.

W token trading transactions. Data: platform Bybit.

According to CoinGeckothe largest airdrop in terms of valuation is the distribution of Uniswap (UNI) tokens – $6.4 billion. If the forecast for the cost of W tokens turns out to be correct, the project will enter the top 3.

The team announced the distribution in early February 2024. It is expected that about 11% of the total supply of 10 billion W will be allocated for the airdrop.

The project team took a snapshot, preliminary, on February 7, 2024. At the token launch stage, the circulating supply will be about $1.8 billion.

In November 2023, the Wormhole project raised $225 million at a valuation of $2.5 billion.

The protocol was also noted for its partnership with the decentralized exchange Uniswap, which, along with a large round of investment, may be one of the reasons for the hype around this token.

Source: Cryptocurrency

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