An altcoin from a cross-chain protocol is experiencing a surge in value following an announcement of support for trading on Korea’s largest crypto exchange.
Wormhole (W) has seen a significant increase in price, jumping from $0.28 to $0.37 after Upbit revealed its support for the Solana (SOL) network.
With a market capitalization of $959.7 million, Wormhole now holds the 82nd spot among crypto projects.
Wormhole’s goal is to facilitate the seamless transfer of liquidity and data across different blockchains.
Launched in 2020 by Jump Crypto in collaboration with the Solana Foundation, Wormhole initially focused on bridging Solana and Ethereum (ETH) before expanding to other blockchains.
“Wormhole introduced the first token bridge between Solana and Ethereum, creating new opportunities for asset transfers between the two networks. This innovation quickly gained traction in the crypto space,”
“With a successful concept, Wormhole has evolved into a platform offering various products that support a diverse ecosystem of multichain applications. Era2 introduced the industry’s first general message-passing protocol, enabling seamless asset transfers across 30+ blockchains and facilitating over one billion secure cross-chain messages.”
“As of August 2024, Wormhole has processed over a billion messages and facilitated tens of billions in cross-chain value transfer.”
The project website states that there is a maximum supply of 10 billion tokens with an initial circulating supply of 1.8 billion.
In April, major crypto exchanges such as Binance, OKX, Bitget, Backpack, and WOO X announced their support for W.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Generated Image: Midjourney