W (Wormhole) rose 15.32% in the last 24 hours

Gate News Bot news, September 18, according to CoinMarketCap data, as of the time of writing, W (Wormhole) is currently priced at $0.10, with a rise of 15.32% in the last 24 hours, reaching a maximum of $0.10 and a minimum of $0.09. The current market capitalization is approximately $492 million, an increase of $65.3 million compared to yesterday.

Wormhole is the leading cross-chain interoperability platform connecting the internet economy. It powers multi-chain applications and bridging, achieving seamless connections between blockchains through its application layer and infrastructure layer products. Wormhole supports over 30 blockchains, has sent over 1 billion messages, and has more than 200 applications built on its messaging system.

Recent important news from W:

1️⃣ W Token 2.0 Major Upgrade Wormhole has announced a major upgrade to the W token 2.0, introducing a new token economic model. The upgrade includes the establishment of a Wormhole reserve, a 4% baseline yield for the W token, and the optimization of the annual unlocking mechanism to unlock every two weeks. These improvements aim to enhance the economic model of the W token and may have a positive impact on its long-term value.

2️⃣ Demand for cross-chain interoperability rise As the blockchain ecosystem continues to expand, the demand for cross-chain interoperability solutions is rising. Wormhole, as a leading cross-chain interoperability platform, supports over 30 blockchains and has sent more than 1 billion messages. This advantageous position enables Wormhole to potentially benefit from the growing cross-chain demand, potentially driving up the value of its W token.

3️⃣ Expansion of the Application Ecosystem Currently, there are over 200 applications built on the Wormhole messaging system. As more developers and projects choose to build on Wormhole, the platform's network effects may further strengthen, which could drive the demand and value of the W token.

From a technical perspective, the price of the W token has broken through the $0.10 mark, showing strong pump momentum. However, investors still need to pay attention to the overall trends in the cryptocurrency market and the actual effects after the implementation of the new token economic model to assess the long-term development potential of the W token.

This message does not constitute investment advice; investors should be aware of market volatility risks.