How a Troubled Token Sale Led to a 100% Rally for HumidiFi (WET)

HumidiFi (WET) has become the leading daily gainer in the cryptocurrency market, boasting a remarkable increase of over 100% in just 24 hours.

Key Takeaways

WET Price Surge: The token's value increased by 104.5%, reaching $0.25, and its market cap exceeded $50 million.
High Trading Activity: Daily trading volume surpassed $150 million, showcasing strong market interest.
Launch Issues: The initial token sale faced disruptions due to manipulation by a single entity, leading to a relaunch.
Successful Relaunch: A public sale held on December 8 raised $2.07 million, incorporating anti-bot measures to ensure genuine participation.
Exchange Listings: The WET token gained listings on major exchanges, boosting its visibility and liquidity.

The surge of this Solana-based token comes on the heels of its recent market introduction, which has captured the attention of the crypto community.

Why is HumidiFi (WET) Token’s Price Rising?

According to data from BeInCrypto Markets, the value of WET soared by 104.5% over the last 24 hours. At the time of writing, the altcoin was trading at $0.25, with its market capitalization surpassing $50 million. Trading volume has also remained robust, exceeding $150 million daily.

Accompanying this price surge is a wave of excitement within the community, positioning HumidiFi as the top trending token on CoinGecko. Market sentiment analysis reveals an 80% bullish outlook from traders, compared to 20% bearish.

So, what exactly is HumidiFi and what has driven this enthusiasm? HumidiFi operates as an automated market maker (AMM) on Solana. Per its litepaper, it is the largest decentralized exchange on the Solana network, with daily trading volumes exceeding $1 billion and accounting for over 35% of Solana's decentralized exchange activities. The protocol integrates with various liquidity layers, including Jupiter, DFlow, Titan, and OKX Router.

The native token, WET, made its debut as the first token launched via Jupiter's Decentralized Token Formation (DTF) platform, with the public sale phase commencing last week.

Initial Token Launch Issues

However, the launch encountered significant problems. On December 5, blockchain analytics firm Bubblemaps reported that one entity, referred to as "Ramarxyz," used over 1,000 wallets to secure 70% of the presale tokens. HumidiFi and Jupiter quickly acknowledged the issue.

They explained that the entity set up thousands of wallets, each funded with 1,000 USDC, triggering deposits into the DTF smart contract through multiple synchronized transactions.

In light of this manipulation, the HumidiFi team decided to relaunch the token with a new version to ensure a fairer process for the community. They stated that the currently deployed WET tokens were held in a presale vault and could not be retrieved; therefore, a new token would be minted for the public sale.

Successful Relaunch with Anti-Bot Measures

The relaunch took place on December 8 at 10:00 a.m. EST, featuring anti-sniping enhancements. These included permissioned signing through the DTF frontend and Cloudflare, increased compute units per deposit, and safeguards against reverts.

These new strategies proved effective, raising 2.07 million USDC from verified buyers and attracting 60,000 visitors to the DTF platform. Analysis conducted by HumidiFi indicated that 20% of depositors contributed below the maximum $500 cap, signifying genuine participation instead of automated scripts.

"All 4,000+ users who successfully purchased WET had to utilize the DTF application’s front end. Early wallet-age assessments suggest that legitimate participants prevailed, with only about 5% of buyers potentially coming from suspicious sources," Jupiter communicated.

The successful public sale relaunch helped restore confidence within the community following the initial presale manipulations. Additionally, the WET token received listings on prominent exchanges such as Coinbase, OKX, Bybit, and Gate. These listings significantly enhance the token's visibility, increase liquidity, and attract a wider range of investors.

Consequently, these favorable developments have propelled WET's rapid price growth, solidifying its status as one of the most noteworthy performers in today's cryptocurrency market.