Wormhole, a renowned interoperability solution provider, has been making significant strides in the cryptocurrency market. The firm recently announced an upgrade to the
W Token 2.0, leading to a 20% increase in the token. This tokenomics overhaul and the launch of the
W reserve, funded by on-chain and off-chain protocol revenue contributed to the rally. The reserve helps to stabilize the W token price and incentivise its holders. Moreover, Wormhole has been a critical player in the push for multichain interoperability, proven by Ripple's collaboration with them to expand the XRPL. Adding to their multichain activities, they have announced
Portal Earn, a rewards program to incentivise multichain activities. Wormhole has further expanded its supported networks, with Unichain being one of the latest adds. Partnerships with
Securitize, a platform helping companies issue compliant digital securities and
Hamilton Lane have cemented Wormhole's place in the market. Amidst their growth, they face competition, with LayerZero making a $110 million bid for Stargate however, Wormhole countered with their own bid. Another accomplishment is the connection to Stacks, a decentralized network, via its NTT standard, expanding the multichain. Amidst ongoing accomplishments and developments, the W token has experienced significant fluctuations with a historic low leaving 96% of holders in the red. The introduction of their Staking Rewards Program could serve as a buffer to future volatility.
Wormhole News Analytics from Wed, 23 Oct 2024 07:00:00 GMT to Wed, 24 Sep 2025 15:36:00 GMT -
Rating 3
- Innovation 5
- Information 6
- Rumor 0
