The cryptocurrency market has been going through a turbulent period lately with news of new airdrops and potential delistings. According to data from analysis company Santiment, the most trending cryptoassets right now are Wormhole (W), Ethena (ENA coin) and Waves (WAVES).
Wormhole (W): Airdrop excitement
Native tokens related to Waves Protocol, along with interoperability project Wormhole and synthetic dollar protocol Ethena Labs, are currently the top trending crypto assets on social media, according to data from Santiment. Wormhole is a project that allows cross-chain interaction. In the “Wormhole Token Creation Event” held on March 3, 670 million W tokens went to nearly 400,000 wallets. This airdrop made W one of the most talked about altcoins recently.
However, the W token has fallen 27.5% to $1.20 since it began tracking on CoinGecko on April 3. Forgetting to exclude the address of the hacker who stole $321 million from Wormhole in February 2022 from the airdrop also negatively affected the value of the token.
Ethena (ENA coin): Started trading on major exchanges
Ethena is an Ethereum-based synthetic dollar protocol. The token launch and $450 million airdrop on April 2 propelled ENA to the trending list. The largest airdrop recipient received 3.3 million ENA tokens, which was equivalent to $1.96 million at the time. ENA was listed on Binance, Bybit, KuCoin and other major exchanges shortly after launch. Its price rose above 1 dollar. Thus, the value of the portfolio of the largest ENA holder exceeded $ 3.4 million. However, Ethena’s offer of a 67% annual interest rate for its synthetic dollar USDe has been met with concern by some investors.
Waves (WAVES): Delisting risk and new plans
Waves Protocol’s WAVES token is down 32.5% since April 2, falling to $2.88. According to Santiment, behind this decline lies the plan to deposit Neutrino (XTN) treasury funds into the WavesIndex pool. According to the plan, Waves will purchase tokens using WAVES from Neutrino reserves. However, cryptokoin.com As we reported, WAVES has also been added to Binance’s Watch List. This means that the token must meet certain standards to continue trading on Binance. Otherwise, WAVES may be removed from Binance.
According to Santiment’s list, apart from W, ENA and WAVES, other trending altcoins are: ELON, DAI, BTC, SYN, ETH, MEW and CAKE. The cryptocurrency market is faced with new developments every day. Airdrops and delisting news can be a source of excitement and anxiety for investors. Therefore, it is critical to do detailed research before investing. It is also important to consider the risks.
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