Following Ethena’s (CRYPTO:ENA) ENA airdrop, the community shifts focus to Wormhole’s (CRYPTO:W) W token, experiencing extreme volatility with a low of $1.25 and reaching an all-time high of $1.66.

Despite trading at $1.38 presently, W holds a market cap of $2.5 billion, ranking 50th on coingecko.com.

With a circulating supply of 1.8 billion against a total supply of 10 billion, the fully diluted market valuation approaches $13.92 billion.

Binance emerges as the leading exchange, with W's global volume hitting approximately $928.64 million in the last 24 hours.

Wormhole initiated W's distribution phase in March, with IOU tokens trading at $35 each, reflecting significant anticipation before the official launch.