HumidiFi (WET) has today become the largest daily gainer in the cryptocurrency markets, with an increase of over 100% in the last 24 hours.
The rise of the Solana-based token coincides with its recent market debut, which has generated significant interest in the crypto community.
Why is the price of the HumidiFi (WET) token rising?
According to BeInCrypto Markets, the value of WET has increased by 104.5% in the last 24 hours. At the time of writing, the price of the altcoin was $0.25.
The market cap of WET has also exceeded 50 million dollars. Additionally, trading is active, with daily trading volume over 150 million dollars.
The token's rapid rise has sparked particular discussion within the community and raised it to CoinGecko's trending lists. Sentiment is reported to be 80% positive (bullish) and 20% negative (bearish) among investors.
What exactly is HumidiFi and what is driving this excitement? HumidiFi acts as an automated asset market maker (prop AMM) on the Solana network.
According to its litepaper, HumidiFi is the largest decentralized exchange on Solana, with over a billion dollars in volume processed daily, and over 35% of Solana's spot DEX activity is managed through it. The protocol is integrated with Jupiter, DFlow, Titan, and OKX Router, serving as an important liquidity layer on the network.
WET is the native token of the platform. It is the first token launched through Jupiter's Decentralized Token Formation (DTF) platform. The public sale started last week.
However, the launch was disrupted. On December 5, the blockchain analytics company Bubblemaps revealed that one actor, 'Ramarxyz', used over 1,000 wallets to acquire 70% of the pre-sale for themselves. HumidiFi and Jupiter quickly recognized the situation.
"They created thousands of wallets, each containing 1000 USDC. Instructions were created for each wallet that triggered the deposit of funds into the DTF smart contract. This resembles a button that says 'put 1000 USDC into DTF to buy WET.' Then a transaction was made where six of these buttons were pressed at the same time. With each batch sent (many batches were sent), 4 transactions were made. Each of those 4 transactions triggered 6 instructions, totaling 24,000 USDC or about 350,000 WET for each batch," HumidiFi explained.
The team subsequently announced a new token relaunch. The initiative demonstrated a clear commitment to fair availability and a community-driven process instead of opportunistic trading.
"As currently issued WET tokens are locked in pre-sold containers and cannot be retrieved, a new token will be launched to enable the relaunch of the public sale. The current WET token (WETcX1wAahwVbuJ9HihE8Uwf3dwmJBojGphAZPSVpJP) is VOIDED and is not the official token of HumidiFi," Jupiter added.
The success of the relaunch using anti-bot mechanisms
The relaunch of the public sale became available on December 8 at 10:00 AM EST and included anti-sniping features. It included permissioned signing within the DTF interface and through Cloudflare, calculated computational power per deposit, as well as mechanisms for removing recovery protection.
These strategies proved to be effective. The sale collected 2.07 million USDC from genuine buyers, and the DTF platform had 60,000 visitors. According to HumidiFi's analysis, 20% of depositors invested less than 500 dollars (the maximum limit), indicating genuine user participation instead of bots.
"Every user over 4000 who successfully purchased WET had to use the DTF application interface. Based on the analysis of the original wallet age, we are quite confident that genuine users won today and only about 5% were potentially suspicious addresses," Jupiter stated.
The successful restart helped restore community trust after the manipulation of the original pre-sale. In addition, the WET token received listings on major exchanges such as Coinbase, OKX, Bybit, and Gate. Thanks to these listings, visibility increased significantly, liquidity deepened, and WET opened up to a broader group of investors.
These events have accelerated WET's strong rise and reinforced its position as one of the most notable coins in the market today.
