Wormhole’s W Token Pre-Market Surge Indicates Massive Airdrop Worth Almost $3 Billion
Wormhole might just be gearing up for one of the biggest airdrops in history.
Wormhole is currently trading at around $2.5 in pre-market over the counter (OTC) trades.
According to the protocol’s tokenomics paper, there are 1.1 billion W tokens available for immediate trading on listing.
At today’s price, that means the airdrop will unlock a heady $2.7 billion in wealth, making it the third largest airdrop in crypto history, according to figures at CoinGecko.
But if you’re scanning lines of copy looking for a release date, you won’t find any yet.
There is currently no official airdrop date so this current price isn’t locked in by any means.
It’s also too late to join.
A snapshot of eligible wallets has already been taken.
Wormhole is a cross-chain protocol that allows users to send assets between different blockchain.
Since its launch in late 2020 as a Solana-Ethereum bridge, Wormhole has integrated over 30 different networks and processed some $40 billion worth of transactions.
Wormhole is catalysing interoperability across the market. It’s early successes helped it get a $2.5 billion valuation after closing a November 2022 funding round to the tune of $225 million.
The protocol’s W token gives its holders governance and voting rights on the future of the protocol.
Wormhole’s integral Portal Token bridge currently holds $1.7 billion in total value locked (TVL), according to DeFi Llama.
Airdrops are a dying art. Once upon a time, anyone who caught a whiff of promise from an upcoming blockchain project participated in its airdrop and either made their fortunes or was left with a bag of inexpensive tokens.
They’re still popular today, but now they have higher barriers for entry. For starters, many platforms tease their airdrop with a
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