- On the premarket, W is trading at $2.15 to $2.48.
- This is significantly higher than the value implied by the tokenomics.
- Airdrop’s preliminary valuation of 1.1 billion W is up to $2.78 billion.
On the premarket, the Wormhole (W) token is trading between $2.15 and $2.48, according to the Bybit exchange. Airdrop’s market valuation of 1.1 billion W shares is then up to $2.78 billion.
According to CoinGecko, the largest airdrop in terms of valuation is the Uniswap token distribution (UNI) – $6.4 billion. If the forecast on the value of W tokens turns out to be correct, the project will enter the top 3.
Recall, the team announced the distribution in early February 2024. It is assumed that the airdrop will allocate about 11% of the total offer of 10 billion W.
The project team made the snapshot, tentatively, on February 7, 2024. At the stage of launch of the token, the circulating offer will amount to about $1.8 billion.
Recall that in November 2023, the Wormhole project raised $225 million at a valuation of $2.5 billion.
The protocol was also marked by partnership with the decentralized exchange Uniswap, which, along with a large round of investment, may be one of the reasons for the excitement around this token.
