May 13, 2024

Table of content

We are listing Wormhole ($W)!

​​The Wormhole protocol is a leading cross-chain protocol that enables the secure transfer of data or tokens between various blockchains. It was founded by Jump Crypto and was initially launched as a token bridge, enabling the transfer of tokens between blockchains, most notably between Solana and Ethereum. 

The Wormhole protocol later evolved into Wormhole V2, a general messaging protocol that allows different blockchains to communicate. This technology can be used for a variety of use cases, including transferring tokens between chains, enabling cross-chain governance for protocols that operate across chains, and transferring NFTs across chains.

Wormhole V2 has expanded its services to include Terra and the BNB Smart Chain. To date, the protocol has processed over $40 billion in value transfers across the supported blockchains and sent over 1 billion messages.

It supports over 30 blockchains, including most leading networks, and has a thriving ecosystem of over 200 applications built using Wormhole's technology.

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What is the Wormhole Token?

The Wormhole protocol token, known as W, plays a central role in the Wormhole ecosystem. It serves several important functions, including governance, security, and incentivization.

As a governance token, W allows holders to participate in decision-making processes regarding the development and future direction of the Wormhole network. W also plays a critical role in securing the platform and incentivizing participants. Token holders can stake their W tokens and earn rewards.

In addition, W tokens are used to pay transaction fees on the Wormhole network. This utility is integral to the functioning of Wormhole and encourages active engagement and investment in the health and growth of the ecosystem. 

Here are some other things you need to know about the token:

  • Trading Volume (24h): The trading volume of W in the past 24 hours is $289,594,038.
  • Circulating Supply: The circulating supply of W is 1,800,000,000 tokens.
  • Total Supply: The total supply of W is 10,000,000,000 W tokens.

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Trade $W 

To start using Wormhole’s cutting-edge technology, all you need to do is purchase your first W tokens. 

Head over to our trading page and secure some to become a part of the cross-chain interoperability community leveraging prominent blockchain technology.

! Disclaimer

The information provided in this article is for educational and informational purposes only and should not be construed as financial, tax, or legal advice or recommendation. Dealing with virtual currencies involves significant risks, including the potential loss of your investment. We strongly recommend you obtain independent professional advice before making any financial decisions. The products and services offered by Cryptology may not be suitable for all users and may not be available in certain countries or jurisdictions. The promotional materials do not guarantee any specific outcomes or profits from virtual trading. Past performance is not indicative of future results. It is important to read and understand the risks, which are explained in our Risk Disclosure Statement

Tom F.

Tom is one of the content managers here at Cryptology. While still fresh in his career he has been able to firmly place himself within the world of crypto and content creation, producing work for a number of publications including esports.net and The Times of Malta newspaper.