đš $W is up 25% today and still ~99% below its launch price.
Wormhole debuted at $1.66 in April 2024. Last year it tried to fix the token: a reserve funded by protocol revenue, a 4% staking yield, and bi-weekly unlocks instead of big cliffs. The Foundation even bought $5M of $W on the market.
The price is now 0.0178. Tokenomics can reduce selling, but they can't create buyers.
Is this the first real reversal, or another bounce in a long downtrend? đ
#CryptoTrading #W
DYOR | NFA
Wormhole debuted at $1.66 in April 2024. Last year it tried to fix the token: a reserve funded by protocol revenue, a 4% staking yield, and bi-weekly unlocks instead of big cliffs. The Foundation even bought $5M of $W on the market.
The price is now 0.0178. Tokenomics can reduce selling, but they can't create buyers.
Is this the first real reversal, or another bounce in a long downtrend? đ
#CryptoTrading #W
DYOR | NFA