Wormhole Airdrops W Tokens as It Debuts at $3B Market Cap

By: Eliza Bennet

The cross-chain bridge Wormhole has begun its token airdrop, releasing its governance token dubbed 'W'. Hitting a debut value of $1.66, the W token contributes to Wormhole's $3 billion market cap. Despite a downstream slide, the Solana token remains a strong entry in the crypto market. As part of the airdrop, over 400,000 wallets are eligible to claim the new token.

The total number of airdropped tokens amounts to 617 million, a sizable reward for early users of Wormhole's cross-chain services. As the token distributes, the market is keenly watching Wormhole's debut and its impact on the broader crypto scene.