The crypto market is never short of activity, and currently, Wormhole, Ethena Labs, and Waves are the names taking the spotlight.
Data from Santiment indicates that these altcoins are trending due to unique market activities.
Why Community is Actively Discussing These Three Altcoins
Wormhole’s native token, W, has interest through its Token Generation Event (TGE) and a substantial airdrop exceeding 670 million tokens. In February, Wormhole described the airdrop as a key step toward decentralization.
This event initially boosted W’s value. However, the token fell by 26% from its peak. Concurrently, phishing related to the airdrop have surged.
Furthermore, there’s controversy within the community about whether an exploiter who previously stole $320 million worth of Ethereum from Wormhole was wrongly included in the airdrop.
“Wormhole forgot to exclude the exploiter from the airdrop,” analyst Pland
Meanwhile, Ethena’s token ENA is on an upward trajectory, with a more than 200% price increase post-listing. In just 24 hours, it rose by over 20%, now trading at $1.03.
However, this development coincides with a slight downturn in its price, marked by an 11% decrease over the past day. Adding to the volatility, BINANCE has placed Waves under a monitoring tag, signaling a heightened risk and volatility compared to other tokens.
