Wormhole to airdrop its governance token W to all featuring more than two holdings between the 3rd and 4th of April. More than 400K wallets are expected to get 617M of tokens, which will encourage early joiners and contributors from various blockchain networks.
Lunar launched the Wormhole side-chain to help the ecosystem to perform inter-chain transactions smoothly. Launching part of 1.8 billion of their tokens on Solana, the protocol already puts the Decentralization first in order to support different categories like the Ecosystem & Incubation and the Community & Launch.
Nearly 400,000 wallets will be eligible to claim a total of 678,823,000 Wormhole tokens, accounting for 6.78% of the total 10 billion supply. This is based on a February 6 snapshot of users across the project’s Portal bridge and ecosystem apps across 30 Wormhole-connected blockchains.
Leading crypto exchanges, including Binance, OKX, and Huobi, have confirmed their readiness to list the W token for spot trading at 12:00 UTC on April 3rd.
The coin debuted at $1.66 on the Solana-based decentralized exchange (DEX) OpenBook with a market capitalization of $2.70 billion and a fully diluted value of $15.03 billion, according to CoinGecko.
Several users reported that OpenBook was unreachable during a period of severe congestion that followed the token’s release.
However, traders should use caution as the asset is just beginning and may be subject to a high volatility rate.
Wormhole aims at $1.65 per token for a cumulative market cap of nearly $3 billion, revealing its position as a major force in the cryptocurrency sphere by attracting new users.
If it materialized, this would place Tron in 50th place, which is the mark of the 50th largest cryptocurrency according to market capitalization.
