Wormhole, Ethena Labs, and Waves Protocol Tokens Trend Amid Market Fluctuations
Summary:
Crypto tokens related to Wormhole, Ethena Labs, and Waves Protocol are trending on social media, data from Santiment suggests. The Wormhole token and Ethena Labs' governance token recently had massive airdrops, attracting interest. Despite its initial popularity, Wormhole Coin's value has declined since tracking began. Meanwhile, Ethena Labs' token gained value shortly after launch, raising its largest holder's investment value significantly. Waves Protocol's token sparked trader attention after a valuation drop and potential Binance delisting.
Trending in the realm of digital assets are the tokens affiliated with the cross-chain data transfer platform Wormhole, the synthetic dollar protocol Ethena Labs and the Waves Protocol, as indicated by Santiment’s data. The Wormhole Coin (W) and Ethena Labs' management token (ENA) recently had airdrops worth several millions, while interest in Waves' token surged after Binance considered delisting it.
The event of Wormhole Token Generation took place on March 3rd, enabling almost 400,000 eligible wallets to share 670 million tokens. Earlier in February, Wormhole projected this event to a significant move towards a decentralized, permissionless future. However, Wormhole’s token has seen a 27.5% downfall to $1.20 since CoinGecko began its price monitoring on April 3rd. It is also noteworthy to mention that the address of the thief who absconded with $321 million from Wormhole's protocol in February 2022 was not included by the Wormhole's team initially.
Following its token launch on April 2, the focus has also shifted towards ENA after it carried out an enormous airdrop of $450 million. The primary recipient received a whopping 3.3 million ENA tokens, translating to $1.96 million then. The ENA's value has shot past $1 since, meaning the holder’s set of ENA tokens would presently round to over $3.4 million.
ENA found a place on many significant digital asset exchanges, including Binance, Bybit, KuCoin, HTX, MEXC, and BitMart, shortly after its initiation. Constructed on Ethereum, Ethena aims to offer a financial solution via cryptocurrency, independent of conventional banking. Concerns arose last month when a 67% annual percentage yield was offered on its synthetic dollar, USDe.
In parallel, Waves Protocol’s token, after witnessing a 32.5% plummet to $2.88 since April 2, has been receiving trader scrutiny. Santiment’s "AI Summary" proposes Waves is gaining momentum due to a proposal to channel funds from Neutrino's (XTN) treasury into the WavesIndex pool, procuring tokens using Waves from Neutrino's reserves. However, Waves found itself on Binance's Monitoring Tags list, implying it might be unfitting for the standards and may face potential delisting anytime.
Published At
4/4/2024 8:33:00 AM
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