Wormhole fell 16% despite listing on Binance and KuCoin
Over the past six hours, the Wormhole (W) cryptocurrency has fallen in price by 16%, despite listing on the Binance and KuCoin exchanges.
The developers of the cross-chain bridge Wormhole airdropped the recently released W tokens on the Solana (SOL) blockchain and sent 617 million coins to people who used the platform shortly before its opening. Owners of digital assets will have voting rights and will be able to influence the development of the Wormhole project.
W trading was launched on the night of April 4, and within a few hours the cryptocurrency rate fell by 16%. Obviously, many participants in the promotion chose to get rid of the donated tokens in order to lock in profits. In the near future, coins will appear on the Ethereum (ETH) network, accordingly, due to the increase in the number of assets in circulation, their value may decrease even more.
