Posted 4/10/2024, 9:41:03 PM
Wormhole's New Token Plunges Over 50% After Massive Airdrop Launch
- Wormhole's new W token plunged over 50% in value days after its massive airdrop launch
- The airdrop distributed free W tokens to 400,000+ wallets across 30+ networks like Ethereum and Solana
- W token initially saw high demand, with 37,000+ wallets claiming tokens in the first minutes
- W token briefly topped a $3 billion market cap before crashing down to current $1.47 billion cap
- W token supply started at 1.8 billion but will expand to 10 billion, likely further reducing value
