The highly-anticipated Wormhole airdrop appeared to attract attention throughout much of the cryptosphere on Wednesday as the protocol's native token sank nearly 25% before then rebounding by more than 10%.

After surging to a high of $1.66 as of 7:46 a.m. ET, according to CoinGecko, Wormhole's token subsequently declined by nearly 25%, hitting $1.25 around two hours after the 7:30 a.m. ET airdrop. At the time of writing, Wormhole's token had rebounded by more than 10%, changing hands at $1.50 as of 1:01 p.m. ET 

Trading volume had exceeded $17 million at the time of writing, also according to CoinGecko data.

Parallel to Wormhole's fluctuating price, the airdrop attracted interest from some of crypto's bigger names, including world-famous artist Beeple, who shared some …