Friends, I have prepared for you an analysis of the Wormhole project and the $W token!
It should be interesting since I will buy some myself 🤏
👉🏻Wormhole is a decentralized cross-chain solution for exchanging liquidity between blockchains using L0 technology.👈
👉🏻During its existence, transactions worth more than $40 billion have been made through the protocol. Agree, not bad at all 👍
👉🏻Many people think that this is an ordinary bridge between different networks, but in fact it is an entire L0 architecture for combining many blockchains into one large ecosystem.😉
👉🏻The main competitors of the project are: LayerZero, Axelar, ZetaChain, Chainlink (CCIP), Circle (CCTP).🤔
💼 Investors
Wormhole officially had only one investment round, in which they raised $225 million. Investors received 11.6% of the entire coin issue. We also know the price at which investors entered - $0.25.
The following funds were included in the project: Multicoin Capital, Jump Trading, Coinbase Ventures, ParaFi Capital and others.
👉🏻When analyzing funds, the first thing that catches your eye is their number. Only 8 funds invested in Wormhole and from the point of view of further manipulation this is very good, since the more funds there are, the more difficult it is to come to an agreement.
👉🏻At the current price of $0.63, investors have less than 3x. Investors will begin receiving their coins from April 2025.
📈 When should you consider purchasing $W token?
The total supply of $W tokens is 10 billion. There are currently 1.8 billion $W tokens in the market, 18% of the total coin supply. In 2025, ~50% of coins will be on the market.
Tokenomics:
🟠31% - Ecosystem and incubation;
🟠23.3% - Foundation;
🟠2% - Main participants/Team;
🟠17% - Airdrop and Liquidity;
🟠11.6% - Strategic partners/Investors;
🟠5.1% - Rewards for noders;
👉🏻What prices for purchase do we consider the most interesting?
🟢Ideal option - $0.2-0.3;
🟢Great option - $0.4-0.5;
🟢Good option - $0.6-0.7;
At the current price you can partially buy if you are counting on a local alt-season. Locally, there are 2 possible triggers for coin growth:
🟠Staking, for which there will be drops of other coins and the release of LayerZero (perhaps there will be a certain correlation in price between these projects);
🟠Issuing a token on the Ethereum blockchain, which can also add liquidity.
In the long term, with a set price of 0.4-0.5, you can count on ~7-10X.
Since the funds will begin to receive coins only in April 2025, we can assume that the main pump will be closer to the unlocks, provided that investors manage to buy back a significant part of the coins from the market, or after the unlocks, when they receive the coins.
🟣Conclusion
Overall, we see an interesting project that the market needs. The project team is public with experience in the crypto industry, which is very important. One of the key indicators of success for such projects is integration with other projects and large partnerships.
For example, Wormhole recently entered into a partnership with AMD, one of the largest chip manufacturers in the world.
We also know that back in 2022, Wormhole was hacked for $325 million, and Jump Crypto fully covered the amount of the hack. From which we can conclude that the fund is clearly interested in the development of the project and would not simply spend such an amount.
Summarizing all of the above, Wormhole, as one of the zero-level solutions, deserves a place in the portfolio.
We are considering the project in conjunction with LayerZero. The main competition will be between these two projects. Such projects are certainly needed by the market, since interaction between blockchains is simplified, which helps promote cryptocurrency to the masses.
Put “👍” if you liked the analysis!
