Wormhole’s W token set for April 3 launch, secures major exchange listings

Wormhole, a well-known cross-chain technology, is set to debut its long-awaited W governance token soon.

Some cryptocurrency exchanges have announced their intention to make the token available for direct trading immediately following the distribution period for qualified users in an airdrop event.

Previously, Wormhole announced the specifics of the W token distribution, noting that approximately 400,000 wallets would be eligible. An impressive amount of 617.3 million W tokens is set aside for this initial airdrop, intended to support both the community and ecosystem on various platforms like Solana, Ethereum, and more. Early adopters in numerous crypto spheres stand to gain from this generous allocation.

Last week, it was announced on Reddit under the title “Wormhole Wednesday” that the W airdrop claim process would begin on April 3 at 11:30 am UTC.

W

Wormhole Wednesday

3-April-2024

11:30AM UTC

— Wormhole (@wormhole) March 28, 2024

Multiple cryptocurrency exchanges such as Bitget, OKX, Backpack, and Gate.io have revealed intentions to make the W token available for trading as of 12 pm UTC on its debut day. It is anticipated that further exchanges may decide to support this token in the near future.

This year, the introduction of W token through Wormhole is anticipated to be a noteworthy occurrence in the crypto world due to Wormhole’s prominent industry position. At first, it will be released as an SPL20 token on Solana, but there are plans to expand its compatibility with the Ethereum ERC-20 standard as well, highlighting the versatility of the protocol across different blockchain networks.

At the moment, each W token is priced at $1.65 during the early trading session on Whales Market. Wormhole has announced that there will be a circulating supply of 1.8 billion tokens when the project launches, which is just a fraction of the total supply of 10 billion tokens.

If the pre-market price holds during the launch, the token’s market value would be around $3 billion, making it one of the top 50 cryptocurrencies based on CoinGecko’s listings.

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2024-04-02 11:54