$W 🎯 My core assessment
Wormhole is doing something right—it’s becoming the cross-chain infrastructure layer between traditional finance and the crypto world. Names like BlackRock, Apollo, and Ripple aren’t just there by chance.
But the problems with the W token itself are clear:
• Weak value-capture mechanisms: very little protocol revenue actually flows back to token holders
• Selling pressure from unlocks will continue through 2030, with new supply released every two weeks
• Structural risks in the security model continue to loom
The 65% surge today could be short-term speculation, or a delayed reaction to the multichain RLUSD news. But if you’re looking at the medium to long term, there’s no clear sign that the rift between the W token and its economic model has been repaired.
The protocol is worth watching; the token needs proof. There’s no rush to reassess until W 2.0’s reserve mechanism demonstrates real buying power.
Wormhole is doing something right—it’s becoming the cross-chain infrastructure layer between traditional finance and the crypto world. Names like BlackRock, Apollo, and Ripple aren’t just there by chance.
But the problems with the W token itself are clear:
• Weak value-capture mechanisms: very little protocol revenue actually flows back to token holders
• Selling pressure from unlocks will continue through 2030, with new supply released every two weeks
• Structural risks in the security model continue to loom
The 65% surge today could be short-term speculation, or a delayed reaction to the multichain RLUSD news. But if you’re looking at the medium to long term, there’s no clear sign that the rift between the W token and its economic model has been repaired.
The protocol is worth watching; the token needs proof. There’s no rush to reassess until W 2.0’s reserve mechanism demonstrates real buying power.