Wormhole’s native token (W) rose by over 8% to $0.6346 in 24 hours despite the crypto market’s fall. This rise raised Wormhole’s market worth to $1.14 billion, placing it 73rd in the cryptocurrency rankings.
W trade volume rose 72% to $164 million. Last day, Wormhole traded between $0.5788 and $0.671. Despite these advances, Wormhole remains 60% behind its April 3, 2024 high of $1.61. Wormhole was $0.6361 at press time.
Wormhole’s release of W Native Token Transfers (NTT) drove the W’s price up. W is now natively multichain on Solana, Ethereum, Arbitrum, Optimism, and Base.
This upgrade allows users to smoothly transfer W between different networks without liquidity concerns or liquidity pools, keeping the token’s unique functionality in the Wormhole ecosystem.
The launch of NTT completes Wormhole’s second phase, preparing for MultiGov, a revolutionary multichain governance system, and W staking for governance. Using NTT and a native multichain token, these developments prepare token functionality.