W (Wormhole) rose 11.44% in the last 24 hours

Gate News Bot news, on August 29, according to CoinMarketCap data, as of the time of writing, W (Wormhole) is currently priced at 0.08 USD, having risen 11.44% in the last 24 hours, peaking at 0.09 USD and falling to a low of 0.07 USD. The current market capitalization is approximately 379 million USD, an increase of nearly 38.9 million USD compared to yesterday.

W (Wormhole) recent important news:

1️⃣ Solana whales continue to unstake An important Solana holder continues to perform unstaking operations, with a recent transaction involving 110,036 SOL (worth $23.51 million) being transferred to a centralized exchange. This whale has cumulatively unstaked 315,108 SOL, worth $53.59 million, over the past 5 months. These funds had been staked for approximately 4 years.

2️⃣ Increased liquidity for cross-chain bridge As large amounts of SOL funds are unstaked and flow to exchanges, the cross-chain bridge project Wormhole may see increased capital movement. As an important infrastructure connecting Solana and other major public chains, Wormhole is expected to benefit from this, attracting more users to utilize its cross-chain services.

3️⃣ Market sentiment improvement drives rise The cryptocurrency market as a whole is showing a rebound trend. As an important cross-chain infrastructure project, Wormhole is positively impacted by the warming market sentiment. Investors' attention to the cross-chain ecosystem has increased, driving the price and trading volume of the W token to rise.

From a technical perspective, W has currently broken through the key resistance level of $0.08, and in the short term, it may continue to maintain an upward momentum. However, considering its small market capitalization, price fluctuations may be quite severe, and investors need to closely monitor market changes.

This message is not intended as investment advice; investors should be aware of market volatility risks.