As a seasoned crypto investor with a knack for spotting promising projects, I must admit that the recent surge of Wormhole’s token (W) has piqued my interest. Having witnessed the crypto market’s volatile dance over the years, I’ve learned to read between the lines when it comes to exchange listings. In this case, Upbit’s decision to list W on its platform seems like a smart move, given Wormhole’s potential to revolutionize cross-chain interoperability and bring traditional finance onto the blockchain through Era3.
Following the announcement made by South Korean cryptocurrency exchange Upbit about listing Wormhole’s token (W) for trading in KRW, BTC, and USDT markets, there was a 20% increase in the value of Wormhole’s token.
Based on information from CoinGecko, the price of Wormhole’s (W) token increased by more than 20% following news of its listing on Upbit. Currently, one W token is being traded for approximately $0.38, up from its previous value of $0.32. The market capitalization of the W token stands at around $935 million, while its total value locked amounts to roughly $3.2 billion.
As a crypto investor, I’m excited to share that on October 2nd, Upbit – South Korea’s leading exchange – introduced Wormhole for spot trading pairs involving the Korean Won, Bitcoin, and Tether. This new feature became active at 6 PM (UTC+8)!
As a crypto investor, I’ve learned from Upbit’s recent announcement that when it comes to trading Wormhole, they will offer sell orders priced below 10% of the previous day’s closing price. These orders will be temporarily halted for approximately five minutes following each trade, to provide additional support during trading sessions.
Initially, the platform Wormhole introduced its native token W on the blockchain of Solana. Since then, it has been featured on multiple cryptocurrency trading platforms such as Binance and Kraken.
Wormhole recently launched Era3 which sets a new standard for cross-chain interoperability, making it easier for apps, tokens, networks, and institutions to go multichain. According to their website, Wormhole Era3 is the next step for connecting all crypto and bringing traditional finance on-chain.
Starting on June 3rd, the protocol introduced a governance staking option for W token owners. With this feature, W token holders can deposit their tokens to take part in decision-making processes within the governance. This encourages a more democratic and community-focused management system.
A wormhole serves as a means of communication between multiple blockchains. It relies on the Guardian Network to transport and authenticate messages off-chain, while also employing its own system to confirm message authenticity.
Wormhole grants developers a gateway to tap into the liquidity of over thirty distinct blockchain networks. This versatile tool has been employed across various sectors such as Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs), governance staking, and many others.
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2024-10-02 14:15