Wormhole Price
(W)
USD($)
Wormhole (W) Live Price Chart
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Wormhole Live Price Data
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Wormhole(W) Profile
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Ethereum 0xB0fFa8...b91Solana 85VBFQZC...AmQ
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$0.2118
$0.2363
$1.6000
-0.17%
-5.06%
-10.69%
$606.39M
$276,629
2.74B
10B
About W
How can I buy Wormhole (W)?
What Is Wormhole (W) Crypto?
Wormhole (W) is a decentralized messaging protocol that facilitates cross-chain communications across over 30 blockchains and Layer 2 platforms, encompassing all major smart contract-capable networks. It supports a wide range of applications, including DeFi (Decentralized Finance), NFTs, governance, and more. The Wormhole network is trusted by leading teams such as Circle and Uniswap, showcasing its credibility and widespread use in the crypto space.
The native token of the Wormhole network is denoted as "W," with a maximum supply of 10 billion tokens. The initial circulating supply was set at 1.8 billion tokens. According to the project's vesting schedule, a significant portion of the W tokens (82%) are initially locked and will unlock over a four-year period,
The W token serves various purposes within the Wormhole ecosystem, including acting as a governance asset for the upcoming Wormhole DAO (Decentralized Autonomous Organization), where holders can vote on key decisions such as fee structures. Wormhole’s introduction of the W token and a subsequent airdrop highlights its ongoing efforts to enhance cross-chain messaging capabilities, enabling more unique cross-chain use cases in an evolving multi-chain world.
How Does Wormhole Bridge Work?
Wormhole’s core mechanism revolves around a decentralized network of guardians that validate cross-chain messages. Here’s a simplified overview of how it works:
Cross-Chain Messaging
At the heart of Wormhole's operation is its ability to send messages across chains. A message is created on the source chain when a user initiates a cross-chain transaction—such as transferring an asset from one blockchain to another.
Guardian Nodes
The protocol relies on a network of guardian nodes, which are operated by a group of validators. These guardians monitor the state of various blockchains and validate cross-chain messages. They play a crucial role in ensuring the security and integrity of the system by attesting to the validity of messages and transactions.
Consensus and Signing
Once a message is created, it is then signed by the guardian nodes. If a majority of the guardians agree that the message is valid, they produce a signature quorum. This quorum certifies that the message has been verified according to the rules of the Wormhole protocol.
Execution on the Target Chain
The signed message, along with its quorum proof, is then submitted to the target blockchain. Smart contracts on the target chain, known as Wormhole contracts, interpret the message and execute the corresponding action, such as minting wrapped tokens representing assets from another chain.
Application Layer
On top of this messaging framework, developers can build various applications that leverage Wormhole's cross-chain capabilities. This includes DeFi platforms, NFT marketplaces, and other decentralized applications (dApps) that benefit from accessing assets and data across multiple blockchains.
When Was Wormhole (W) Coin Launched?
Wormhole was initially launched in 2021 by Jump Crypto. Jump Crypto, part of the broader Jump Trading Group, is a division focused on cryptocurrency and blockchain technology. Since its launch in 2021, Wormhole has experienced several key developments that have contributed to its growth and the expansion of its ecosystem:
Funding Round
Wormhole raised $225 million at a $2.5 billion valuation in a funding round, highlighting significant investor confidence in the project's potential and its role in the blockchain ecosystem. This round saw participation from notable entities, including Brevan Howard, Coinbase Ventures, Multicoin Capital, Jump Crypto, ParaFi, Dialectic, Borderless Capital, Arrington Capital, and more.
Introduction of Wormhole Queries
A new app development mechanism called Wormhole Queries was launched to reduce latency and cost for accessing cross-chain data. This feature introduces a 'pull' mechanism, offering sub-1 second latency and up to an 84% reduction in gas fees, thereby enhancing efficiency and accessibility for developers building on the Wormhole protocol.
Cross-Chain Ecosystem Fund
In collaboration with over twenty blockchain teams and venture funds, a $50 million Cross-Chain Ecosystem Fund was launched. This fund is focused on backing and growing new startups that leverage the Wormhole cross-chain messaging protocol, further fostering innovation and development within the Wormhole ecosystem.
What Is W Token Used for?
The W token plays a significant role in the governance of the Wormhole network. Holders of the W token can participate in the governance process, influencing decisions such as fee structures and protocol upgrades, contributing to the decentralized and community-driven nature of the project.
You can also trade Wormhole token on the KuCoin Spot Market against other cryptocurrencies to profit from changing market conditions and volatility. Buy or sell $W or HODL if you believe in the long-term potential of the Wormhole project, but only based on your research (DYOR).
Wormhole (W) Price Movements ($)
| Period | Change | Change (%) |
|---|---|---|
| Today | $-0.0122 | -5.15% |
| 7 Days | $-0.0293 | -11.62% |
| 30 Days | $-0.0606 | -21.41% |
| 3 Months | $-0.0099 | -4.23% |
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Wormhole Conversion Rate
FAQ
How much is 1 Wormhole (W) worth?KuCoin provides real-time USD price updates for Wormhole (W). Wormhole price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time W to USD exchange rates.
Is Wormhole (W) a Good Investment?
Investing in Wormhole (W) could offer several potential advantages, especially given its unique position in the blockchain ecosystem as a cross-chain messaging protocol:
Interoperability Solution
As the blockchain space becomes increasingly fragmented, the demand for interoperability solutions like Wormhole, which enables seamless communication and transaction across different blockchains, is expected to grow. Investing in Wormhole puts one at the forefront of addressing one of the critical challenges in the blockchain ecosystem.
Backing by Major Entities
Wormhole is supported and developed by Jump Crypto and has seen significant interest from a variety of prominent investors in the blockchain space. This strong backing could be seen as a vote of confidence in the project's long-term viability and potential for growth.
Wormhole’s Utility and Adoption
The utility of the Wormhole protocol in enabling cross-chain functionality for DeFi, NFTs, and more can drive adoption and demand for the W token. As more applications and users rely on Wormhole for cross-chain transactions, the inherent value and utility of the W token within its ecosystem could increase.
Governance Participation
Holding W tokens allows investors to participate in the governance of the Wormhole network. This not only provides a say in the project's direction and development but also aligns with the broader ethos of decentralized and community-driven governance in the crypto space.
Innovative Features and Development
Wormhole's continuous development, including new features like Wormhole Queries for reduced latency and cost in accessing cross-chain data, positions the protocol to remain at the cutting edge of blockchain technology. This forward-looking approach can appeal to investors looking for projects with long-term growth potential.
Ecosystem Support Initiatives
Initiatives like the Cross-Chain Ecosystem Fund to support startups leveraging Wormhole indicate a commitment to nurturing a vibrant and innovative ecosystem. This can lead to increased usage, new applications, and, consequently, greater demand for the W token.
Exposure to the Multi-Chain Future
Investing in Wormhole offers exposure to the burgeoning multi-chain future of the blockchain landscape, where value and information fluidly move across different networks. This vision represents a significant expansion of blockchain's capabilities and potential applications.
What Is Wormhole Price Prediction?
While the volatile nature of the crypto market makes it challenging to offer a reliable W crypto price prediction, monitoring the following factors could help you better understand the price movements in Wormhole cryptocurrency:
Adoption and Use Cases of Wormhole Protocol
The extent to which the Wormhole protocol is adopted and utilized across different blockchains for cross-chain transactions, DeFi, NFTs, and other applications can significantly impact the demand for W tokens. Increased adoption often leads to higher demand, potentially increasing the Wormhole token price.
Future Developments in the Wormhole Roadmap
Updates, enhancements, and new features introduced to the Wormhole network can affect investor sentiment and token demand. Innovations that improve the protocol's efficiency, security, or functionality may positively influence the W to USD price.
Crypto Market Sentiment
The overall sentiment in the cryptocurrency market can profoundly impact the price of individual tokens, including W. Factors such as regulatory news, industry trends, and investor confidence can sway market sentiment positively or negatively.
W Token Liquidity
The availability of the W token on exchanges and the ease with which it can be bought and sold can affect the W crypto price. Higher liquidity often leads to more stable prices, while lower liquidity can result in higher volatility.
Wormhole’s Partnerships and Integrations
Announcements regarding new partnerships, integrations with other blockchain projects, or collaborations can increase optimism and demand for W tokens, influencing the $W price.
Macroeconomic Factors
Broader economic conditions, such as inflation rates, currency fluctuations, and interest rates, can also influence the crypto market and the price of tokens like W. In times of economic uncertainty, some investors may turn to cryptocurrencies as a hedge, impacting demand and the Wormhole crypto price.
Speculation
Like other cryptocurrencies, speculative trading can significantly influence the price of W tokens. Traders looking to capitalize on price volatility can cause rapid price changes independent of the project's fundamentals.
Competition
The landscape of cross-chain interoperability solutions is competitive. The emergence of new technologies or platforms that offer similar or superior functionalities can impact the perceived value and utility of the Wormhole protocol, affecting the W token price.
How to Participate in Wormhole Airdrop
The Wormhole (W) airdrop is designed to reward prior users, developers, and community members who have significantly contributed to the Wormhole ecosystem. To be eligible, participants must engage with Wormhole ecosystem chains, applications, or community activities.
The airdrop specifically targets users with a high volume of transfers, numerous transactions, and active participation in ecosystem applications. A snapshot was taken on February 6, 2024, to determine the eligibility based on users' interactions within the Wormhole network, which connects nearly 30 blockchains and hosts over 200 applications.
6.78% of the W token supply, amounting to 678,823,000 tokens, has been allocated for this airdrop, highlighting the protocol's commitment to decentralization and community engagement. The distribution includes tokens for on-chain activities across Wormhole-connected blockchains and community members such as Discord users and NFT communities.
To check if you're eligible for the airdrop, you can use the Wormhole airdrop eligibility checker by connecting your crypto wallet to the interface. The eligibility checker allows users to verify their participation and the potential rewards they might receive. Once the claiming process is activated, the same interface will be used to claim the airdrop rewards.
What is the all-time high price of Wormhole (W)?
The all-time high price of Wormhole (W) is $1.6000. The current price of W is down 0.86% from its all-time high.
What is the all-time low price of Wormhole (W)?
The all-time low price of Wormhole (W) is $0.1638. The current price of W is up 0.36% from its all-time low.
How much Wormhole (W) is there in circulation?
As of 11 21, 2024, there is currently 2.74B W in circulation. W has a maximum supply of 10B.
What is the market cap of Wormhole (W)?
The current market cap of W is $606.39M. It is calculated by multiplying the current supply of W by its real-time market price of $606.39M.
How do I store Wormhole (W)?
You can securely store your Wormhole in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your W include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.
How do I convert Sei (SEI) to cash?
You can instantly exchange your Sei (SEI) for cash using KuCoin's Fast Trade feature. This feature enables you to convert SEI to your local fiat currency in just a few clicks. However, make sure to complete Identity Verification first to enjoy all the features you may need.
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2024-11-21 16:31:48 (UTC+8)
24h Volume3,224,948,563USDT