According to data analytics platform Santiment, the native tokens of interoperability project Wormhole, synthetic dollar protocol Ethena Labs, and the Waves Protocol are currently the hottest topics in the cryptocurrency social media space. Both Wormhole's W token and Ethena Labs' ENA token made headlines with recent multimillion airdrops, while the Waves token drew investor attention after Binance flagged it for potential delisting.
Wormhole distributed 670 million tokens to nearly 400,000 eligible wallets as part of its "Wormhole Token Generation Event" in March. However, the token's value has dipped by 27.5% to $1.20 since April 3.
Simultaneously, Ethena Labs grabbed attention with its $450-million airdrop during its token launch on April 2. The token has since surged past the $1 mark, significantly boosting the value of the largest recipient's holdings, initially worth $1.96 million. Ethena Labs' ENA token is now listed on major exchanges such as Binance, Bybit, KuCoin, HTX, MEXC, and BitMart.
Waves Protocol's WAVE token, meanwhile, has seen a 32.5% drop to $2.88 since April 2, focusing trader attention on the asset. Santiment indicates that the increased discussion around WAVES might stem from a proposal to invest Neutrino (XTN) treasury funds into the WavesIndex pool, which would see the protocol buying tokens using WAVES from Neutrino reserves.
