Token

Wormhole

Show

<p><a href="https://wormhole.com/" target="_blank" rel="noopener noreferrer nofollow">Wormhole</a> (W), the native token of the leading interoperability platform, has experienced a significant price surge in the past 24 hours, according to <a href="https://coinmarketcap.com/currencies/wormhole/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap data</a>. The token’s price has increased by 14.07%, reaching $0.6154 at the time of writing. This price action has pushed Wormhole’s market cap to $1,107,632,132, placing it at 76 on the cryptocurrency rankings by market capitalization.</p>
<p>The 24-hour trading volume for W has also seen a massive increase of 181.75%, reaching $295,402,125 and placing it at 27 on the volume rankings. The token’s price performance has been impressive, with a low of $0.5259 and a high of $0.672 in the past 24 hours. However, W is still trading 61.53% below its all-time high of $1.61, which was reached on April 03, 2024.</p>
<p>According to the chart, W has recently broken out of a descending channel and hit a key resistance level. This breakout and the subsequent price surge suggest that the token is gaining bullish momentum and could potentially continue its upward trend if it manages to break through the resistance level.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="144" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-1180-1024x144.png" alt="" class="wp-image-481666" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-1180-1024x144.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1180-300x42.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1180-763x107.png 763w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1180-1536x215.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1180-2048x287.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1180-1069x150.png 1069w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1180-100x14.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1180-788x110.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1180.png 556w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  Source: <a href="https://www.coingecko.com/en/coins/wormhole" target="_blank" rel="noopener noreferrer nofollow">CoinGecko</a>
 </figcaption>
</figure>
<h2 class="wp-block-heading" id="wormhole-announces-native-token-transfers-ntt-for-w">Wormhole Announces Native Token Transfers (NTT) for W</h2>
<p>One of the key factors behind W’s price surge is Wormhole’s recent <a href="https://wormhole.com/w-is-now-natively-multichain-on-ethereum-and-layer-2s-with-wormhole-native-token-transfers-ntt/" target="_blank" rel="noopener noreferrer nofollow">announcement</a> of Native Token Transfers (NTT) for the W token. With NTT, W is now natively multichain, available on <a href="https://captainaltcoin.com/?s=Solana&amp;post_type=post" target="_blank" rel="noopener noreferrer nofollow">Solana</a>, <a href="https://captainaltcoin.com/?s=Ethereum&amp;post_type=post" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a>, Arbitrum, Optimism, and Base.</p>
<p>This development allows users to seamlessly transfer W across these networks without the complications of liquidity fragmentation or liquidity pools, while also preserving the token’s unique utility within the Wormhole ecosystem.</p>
<p>The introduction of NTT completes the second phase of the W launch roadmap and paves the way for an industry-first multichain governance system called MultiGov, as well as W staking for governance. These advancements lay the groundwork for future token functionality, which is only possible with NTT and a native multichain token.</p>
<h2 class="wp-block-heading" id="broader-access-and-enhanced-functionality-for-w">Broader Access and Enhanced Functionality for W</h2>
<p>By making W natively multichain, Wormhole has enhanced the token’s functionality and broadened its access to a wider range of users and developers across diverse blockchain ecosystems. This development enables more efficient and flexible use of W, fostering innovation and participation within the Wormhole ecosystem.</p>
<p>The launch of NTT aligns with Wormhole’s roadmap and demonstrates the platform’s commitment to creating an accessible, secure, and decentralized environment for blockchain interoperability. As Wormhole continues to build new technologies and innovative governance systems, the future of W looks promising, with the potential for increased adoption and value creation.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the <strong>ICO phase</strong>. Check out <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>NuggetRush</strong></a> today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>Seize the opportunity</strong></a> with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="technical-analysis">Technical analysis</h2>
<p>W token has recently undergone a notable transition in market behavior. The token exited a descending channel according to our analysis.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="501" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-1178-1024x501.png" alt="" class="wp-image-481648" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-1178-1024x501.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1178-300x147.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1178-766x375.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1178-1536x752.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1178-2048x1002.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1178-307x150.png 307w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1178-100x49.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1178-715x350.png 715w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1178-788x385.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  Source: <a href="https://www.tradingview.com/chart/6kfufI0u/?symbol=BYBIT%3ABONKUSDT" target="_blank" rel="noopener noreferrer nofollow">Tradingview</a>
 </figcaption>
</figure>
<p>The exit from the channel was upward, indicating a potential reversal in sentiment from bearish to bullish for the W token. The breakout is a significant event because it implies that the buying pressure has surpassed the selling pressure that was previously keeping the price within the bearish channel.</p>
<p>Following the breakout, the W token’s price reached a key resistance level of $0.67. The most recent price action at this resistance level has shown a pullback, as demonstrated by the presence of a red candlestick.</p>
<p>Investors in the W token will immediately focus on the token’s ability to maintain its position above the former descending channel and whether it can establish support at this new level. A consolidation above the channel may strengthen the case for a continued uptrend, whereas a fall back into the channel could suggest a false breakout and a potential resumption of the downtrend.</p>
<p>A combination of factors, including the breakout from a descending channel, the hitting of a key resistance level, and the announcement of Native Token Transfers (NTT), have contributed to the recent price surge of Wormhole’s W token. As W becomes natively multichain, it opens up new possibilities for the token’s utility and governance, attracting more users and developers to the Wormhole ecosystem.</p>
<p><em><strong>Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram community.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/wormhole-price-spikes-double-digit-what-triggered-w-tokens-price-surge/" rel="noopener noreferrer nofollow">Wormhole Price Spikes Double Digit: What Triggered W Token’s Price Surge?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Wormhole Price Spikes Double Digit: What Triggered W Token’s Price Surge?

Table of Contents

CaptainAltcoin

Other articles published on Apr 26, 2024

SAGA Price Prediction: Is History Poised to Repeat Itself?

Trump Bitcoin (TRUBTC) to Surge Over 6,500% While Shiba Inu and Dogecoin Lag

MicroStrategy Eyes S&P 500 Inclusion, 50% MSTR Price Rally Ahead

Spot Bitcoin ETF Approval Sparks Market Interest

Exploring the Potential Surge in Bitcoin Prices According to Top Analysts

Arthur Hayes: Bitcoin Bull Market Not Over, Urges Investors To 'Left Curve It'

Join our free newsletter for daily crypto updates!