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
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
