Update: Find out about the latest sale
From a promising start at $1.61 in its debut on March 3, 2024, Wormhole (W) had to shed a significant amount of volume, closing at $1.3149 and currently trading at $0.80, representing a 49% decline from ATH.
The market capitalization also decreased from US$3 billion to US$1.5 billion, and Wormhole is ranked 69th in the market, according to
CoinMarketCap.
Although trading volume reached US$362 million over the past 24 hours and 1.8 billion wth traded out of a total supply of US$10 billion, several factors contributed to the VCL price decline:
1️⃣ Scam News: Hackers targeted Wormhole's $850 million airdrop event, causing investors to worry about the project's legitimacy and security risks.
2️⃣ “warmhole” fake token: A clone token appeared after the recently listed coin on Binance, attracting attention and potentially impacting the price of W as memecoin DEV teams took the opportunity to follow suit.
Understanding these challenges, Wormhole has set its sights on expanding its code to include the ETH network and other Layer 2 layers, promising future growth and flexibility.
If you swing the W by mistake, just hold it, sooner or later it will fly out again, don't worry too much!
