Northern Data, a European cloud computing, artificial intelligence (AI), and bitcoin mining company, is reportedly mulling going public in U.S. markets. The company would be in talks to complete its initial public offering (IPO) in 2025, creating an entity combining its AI cloud computing and data center divisions. This new entity would have a valuation […]
Bitcoin News
Zksync’s ZK Token Debuts With $932M Valuation, South Korean Market Shows Strong Interest
Zksync’s token, known as ZK, is currently trading at a value 19% below its initial price of .321 during early morning sessions. The new cryptocurrency’s market valuation stands at 2.14 million, with each ZK token trading at .2575. This positions ZK among the top 100 largest market capitalizations, ranking at 90th. Notable exchanges listing ZK […]
Bitcoin News
Solana’s Penguiana $PENGU Token Launch On Raydium Surpasses $1M Valuation, Sets Stage For GUIANA NFT Minting
In a remarkable showcase of growth and enthusiasm, Penguiana, the unique penguin-themed meme coin on the Solana blockchain, has successfully launched its $PENGU token on Raydium. Buy $PENGU here on Raydium. This milestone comes after a highly successful presale, confirming strong investor interest and community support. As the $PENGU token gains traction on the market, […]
Bitcoin News
Decoding FDV: The Importance of Fully Diluted Valuation in Crypto Investments
In a market where substantial portions of tokens are often locked up, understanding Fully Diluted Valuation (FDV) has become essential for investors looking to better evaluate the current value of cryptocurrency projects, as well as better predict the long-term value and risks associated with them. Introduction to FDV Fully Diluted Valuation (FDV) is an important […]
Bitcoin News
Farcaster Secures $150M in Funding, Reaches $1B Valuation With Backing From Paradigm
Farcaster, a decentralized social media platform leveraging the Ethereum blockchain and Optimism’s Layer two ecosystem, has successfully raised 0 million in a funding round led by Paradigm, bringing its valuation to billion. The funds will be used to sustain the project’s development, focusing on growing its user base and enhancing developer tools, after the […]
Bitcoin News
Stablecoin Market Climbs $2.81B in a Week, Nearing $160B Valuation
Over the past seven days, the stablecoin sector has expanded by .81 billion, bringing the dollar-pegged cryptocurrency market close to a total valuation of 0 billion. A significant portion of this growth, exceeding billion, is attributed to the increase in USDT’s market capitalization, which reached 9.38 billion by Friday at 1:00 p.m. Eastern Time. […]
Bitcoin News
Wormhole $617M Airdrop Ignites Valuation Surge To $3B, But W Price Stumbles 23%
Wormhole, a cross-chain communication protocol enabling the transfer of assets between blockchains, recently launched an airdrop campaign for its newly issued governance token, W. Early users were rewarded with 617 million W tokens, and the protocol also released a roadmap outlining its plans.
Wormhole Protocol Unveils Roadmap
According to the protocol’s roadmap, W aims to become a native multi-chain token, leveraging the advantages of both the Solana and Ethereum Virtual Machine (EVM) chains.
Initially launched as a native SPL token on Solana, W will reportedly leverage Solana’s performance, offering increased performance, scalability, low transaction costs, and fast settlement times.
After the Solana debut, W will be extended to all Wormhole-connected EVM chains using Wormhole Native Token Transfers (NTT). This framework allows W to continuously roll out across Solana, the Ethereum mainnet, and Layer 2 (L2s) without liquidity fragmentation.
The open-source NTT framework allows projects to control token behavior on each chain, including token standards, metadata, ownership/upgradability, and custom features.
Cross-Chain Governance System
Wormhole also introduces a governance system where token holders on any supported chain can create, vote on, and implement governance proposals. This approach allows maximum participation in the Decentralized Autonomous Organization (DAO) by providing a frictionless user experience for token holders distributed across multiple chains.
As announced, W holders can lock and delegate their tokens on Solana and EVM chains, allowing them to participate in governance decisions. The Wormhole DAO, composed of W token holders, will oversee the Solana, Ethereum mainnet, and EVM L2s governance system.
Wormhole, developed by Jump Crypto, a division of Jump Trading Group, has been under development for several years. Despite encountering challenges, including a significant hack in February 2022 resulting in a loss of approximately 0 million, the protocol has continued to evolve.
Furthermore, the recent listing of the W token on major exchanges such as Crypto.com and the future support planned by Coinbase on April 4 further validate its progress.
W’s Debut On OpenBook
The W token debuted on the Solana-based decentralized exchange (DEX) OpenBook at .66, with a market capitalization of .98 billion and a fully diluted value of .5 billion.
However, the token’s market capitalization and fully diluted value have since fallen to .2 billion and .5 billion, respectively, according to updated data from CoinGecko. Trading volume for W has remarkably increased, reaching 5,937,593 in the last 24 hours, representing a staggering 25,732,359.60% surge.
Following the airdrop, some users openly shared their sell-offs of the W token on social media platforms, resulting in a 23% price drop. At the time of writing, the token is trading at .32.
Featured image from Shutterstock, chart from TradingView.com
Dogwifhat Rises to Become the Third-Largest Meme Coin by Market Valuation
This week, the crypto asset dogwifhat (WIF), a meme coin, ascended to the third-highest valuation among all meme tokens. In the last day, WIF appreciated by 17% against the U.S. dollar and saw a 435% increase over the past 30 days. WIF Surpasses Major Competitors, Securing Third Spot Among Meme Coins In the recent week, […]
Bitcoin News
Bitcoin Technical Analysis: BTC Hits $65K, Edging Closer to Peak Valuation
In a powerful demonstration of resilience, bitcoin’s value climbed past the ,000 mark on March 4, 2024, showcasing a significant upward movement from its 24-hour low of ,769. This climb is supported by a robust trade volume of .41 billion and a market capitalization of .276 trillion, indicating increased trader optimism. Bitcoin The hourly chart […]
Bitcoin News
$14M Capital Infusion Catapults Ethena Labs’ Valuation; Stablecoin Ranks 9th Largest
On Friday, Ethena Labs, the creators of the stablecoin USDE, secured million in funding from key investors. Following this recent influx of funds and a previous .5 million investment from Maelstrom, overseen by Arthur Hayes, in July 2023, the company’s post-valuation has risen to 0 million. USDE Issuer Ethena Labs Raises M Ethena Labs, […]
Bitcoin News