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Wormhole Price Prediction 2024: W Dips After Debut

Last Updated April 5, 2024 7:59 AM
Giuseppe Ciccomascolo
Last Updated April 5, 2024 7:59 AM

Key Takeaways

  • Wormhole’s W token made its debut on the market on April 3.
  • Since then, the coin has experienced a negative performance.
  • One price prediction says it may reach $8.48 next year.

Wormhole is an interoperability platform fueling multichain applications and expansive bridges within the Web of Web3. This collection of open-source protocols is employed by developers across 200 applications and utilized by over one million distinct wallets to seamlessly transfer diverse data types across more than 30 blockchains.

Its native token, W, made its debut on the market on April 3 but started dropping since then. Can it make an u-turn?

Wormhole did not immediately respond to a request for comment.

But what is Wormhole (W)? How does Wormhole work? Let’s see what we can find out, and also take a look at some of the Wormhole Price Predictions that were being made as of April 5, 2024.

Wormhole Coin Price Prediction

Let’s examine some of the Wormhole price predictions being made on April 5, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2030
Prediction #1 $2.11 $2.46 $7.21
Prediction #2 $1.46 $2.16 $13.67
Prediction #3 $2.23 $8.48 $7.21

First, CoinCodex  had a short-term Wormhole price prediction that suggested the token would go to $1.277738 by April 10 before rising further to $3.17 by May 4. The site’s technical analysis was bearish, with four indicators sending discouraging signals and none making bullish ones.

Wormhole Price Prediction for 2024

DigitalCoinPrice  said Wormhole would reach $2.11 this year while PricePrediction.net  expects it at $1.46 and CoinDataFlow  said W would close the year at $2.23. 

Wormhole Price Prediction for 2025

CoinDataFlow said Wormhole would reach $8.48 and PricePrediction.net sees it at $2.16. DigitalCoinPrice said W would trade at $2.46. 

Wormhole Price Prediction for 2030

Moving on to a more long-term Wormhole price prediction, PricePrediction.net said the coin would be worth $7.21 in 2030 and CoinDataFlow expects it at $37.45. DigitalCoinPrice made a W price prediction of $7.21 at the start of the next decade.

Google Gemini AI Price Prediction for Wormhole (as of April 5)

Google’s Gemini AI platform gave the following price prediction for Wormhole on April 5. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligence price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next 3 months)

  • Expected price: $3.17
  • Factors to Consider:
    • Market Volatility: The cryptocurrency market is highly volatile, meaning prices can fluctuate rapidly. These predictions could be significantly off if there are major market shifts.
    • Limited Historical Data: Wormhole is a relatively new cryptocurrency, so there’s less historical data to inform predictions compared to established coins.
    • Algorithmic Biases: Predictions generated by algorithms can be biased based on the data they are trained on.

Medium Term (Next 6 months)

  • Expected price: $2.71
  • Factors to Consider:
    • Market Volatility: The cryptocurrency market is highly volatile, and Wormhole’s price could fluctuate significantly in the next 6 months.
    • Project Development: Significant developments or partnerships for Wormhole could positively impact its price
    • Overall Market Trends: The general trend of the cryptocurrency market will also influence Wormhole’s price.

Long Term (Next 5 years)

  • Expected price: $1.31
  • Factors to Consider:
    • Market Adoption: If Wormhole’s technology gains wider adoption and partnerships, it could drive the price up.
    • Regulations: Government regulations on cryptocurrency can significantly impact prices.
    • Competition: Success depends on how Wormhole stands out from other cross-chain bridge projects.
    • Team and Development: A strong team with a clear vision can inspire confidence and attract investment.

Wormhole Price History

Let’s now take a look at some of the highlights and lowlights of the Wormhole price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a Wormhole price prediction. 

Wormhole price history
Wormhole price in 2024. | Credit: CoinMarketCap

When Wormhole first came onto the open market on April 3, 2024, it was worth $1.3668. It then decreased to $0.9743 on April 5, 2024.

At that time, there were 1.8 billion W in circulation, out of a total supply of 10 billion. This gave Wormhole a market cap of about $1.75 billion, making it the 64th largest crypto by that measurement.

Is Wormhole a Good Investment?

It is hard to say. The coin has been around for a short time. On the horizon, there’s no clear bullish or bearish sign.

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in Wormhole.

Will Wormhole go up or down?

No one can really tell right now. While the Wormhole crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Wormhole?

Before you decide whether or not to invest in Wormhole, you will have to do your own research, not only on W, but on other, related, coins and tokens such as Ethereum (ETH) and Solana (SOL). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Wormhole (W) Explained

Wormhole  is the leading interoperability platform powering multichain applications and bridges at scale — the Web of Web3. The suite of open source protocols is used by developers of over 200 applications and more than one million unique wallets to move various types of data across over 30 blockchains.

In total, the platform has handled over 1 billion cross-chain messages for applications and teams like Uniswap, Circle, Lido, Synthetix, Pyth, and more. In 2023, the Uniswap Foundation’s Bridge Assessment Committee conducted a third-party multi-month report  that resulted in Wormhole being named the only unconditionally approved cross-chain protocol for use by the Uniswap DAO, based primarily on security and decentralization practices.

How W Works

W has been initially launched as a native Solana SPL token. ERC20 functionality will be enabled post-launch through Wormhole’s Native Token Transfers (NTT), allowing seamless transfers across any Wormhole-connected network.

Wormhole Attention Tracker

A chart for the Wormhole Google search volume for the past 90 days is not available as there is not enough data to provide one.

FAQs 

How many Wormhole are there?

As of April 5, 2024, there were 1.8 billion W in circulation, out of a total supply of 10 billion.

Will W reach $10?

Only PricePrediction.net sees it reaching a double-figure value but not before 2029.

What's Wormhole?

Wormhole is the leading interoperability platform powering multichain applications and bridges at scale — the Web of Web3. The suite of open source protocols is used by developers of over 200 applications and more than 1 million unique wallets to move various types of data across over 30 blockchains.

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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