🔥💥Wormhole W Tokens Rise to 2.5 Billion Dollars After Airdrop
The popular cross-chain bridge Wormhole entered the top 100 on Coingecko by airdropping 617 million of its local token to early adopters.
According to Coingecko, the network reached $ 2.65 after opening to a huge market capitalization of $ 2.9 billion and a fully diluted valuation of $ 14.7 billion.
#Wormholecoin 's new token, #WToken , is having a bumpy ride today. Investors were paying $1.65 at the time of launch, but the W soon dropped to $1.25. It recovered slightly and changed hands for $1.48, down 11% at the time of writing.
April 3 marks the start of an airdrop of 1.1 billion to early adopters, with the remaining 600 million making up 17% allocated to the Wormhole community, which will be unlocked four months after this initial rollout.
The wormhole has not been exempt from problems over the years. In the second largest DeFi hack to date, the project became the victim of a $320 million exploit in February 2022.
According to the team, in addition to the 17% allocated to the community, 23% was tagged to the Foundation Treasury, 12% to the main contributors and 31% for ecosystem and incubation purposes. The remaining 17% will be distributed among strategic partnerships and protective nodes. Dec.
According to DEFILLAMA, the total value locked in the Wormhole has been in a strong upward trend over the past six months. Since October 1, 2023, it has increased from $ 318 million to $ 2.4 billion.
Activity in the Wormhole increased in December 2023 and remained steadily high in the first quarter of 2023. According to the Dune dashboard, the network experienced a short-term decline in transactions in February, falling from 17,683 to 13,506, but it has come back to life. There were 16,549 transactions in March.
