Original author: zerokn0wledge, co-founder of Steak Capital

Original translation: TechFlow

Recently, Wormhole successfully launched $W, which is absolutely huge. With a $10 billion FDV, it is currently the largest interoperability protocol on the market.

So should you sell your $W airdrop? Or hold it? We can dig into the data to find the answer to this key question.

It is important to understand that Wormhole is not a bridge. I have talked about this in the past. Click here to learn more.

As Emperor Osmo mentioned, the narrative here is simple:

· New tokens

· Well-executed airdrops

· Ecosystem airdrops coming

All three of the above could be drivers of W price appreciation.

Wormhole is the leading interoperability provider, particularly well-positioned in the non-EVM space. The chain with the most value bridged through Wormhole in the past 30 days is Ethereum. The main target chains are Sui and Solana.

The story is similar from another angle. Ethereum is the network with the most assets bridged through Wormhole.

Once again, the main contributors are Sui and Solana.

If we look at the number of transactions, the picture is slightly different. Solana is the chain with the most transactions in Wormhole, and most of them go to BNB chain, Ethereum, and Arbitrum.

Solana is also the leading chain for inbound Wormhole transactions. The largest share comes from BNB Chain and Ethereum.

This shows that SOL is very popular among retail users. On the other hand, the low volume and high transaction value on Sui indicates whale activity.

It also proves Wormhole’s strong position in the non-EVM space and in the chains that will be at the center of this cycle.

As modular expansion continues to deepen, users and liquidity are divided between more and more (alternative virtual machine) execution layers, which is a bullish trend.

Wormhole’s leading position in the entire interoperability space is also strongly demonstrated in the data, with more than 1 billion cross-chain messages sent and verified through the protocol, and more than $41 billion in value bridged.

But where does all this activity come from? , or more importantly, who will airdrop it to me if I stake W? (More on that later)

Let me give you a quick introduction to the Wormhole ecosystem.

Multi-chain lending

@Curvance (not yet issued)

@PikeFinance (not yet issued)

@synonymfinance

@MayanFinance (not yet issued)

@FolksFinance (not yet issued)

Multi-chain DEX

@magpieprotocol

@CatalystAMM (not yet issued)

@WombatExchange

@JupiterExchange

@Backpack (also a wallet, not yet issued)

@infinex_app (not yet issued)

@C3protocol (not yet issued)

@hashflow

Cross-chain bridge

@portalbridge_ (not yet issued)

@Allbridge_io

@0xcarrier (not yet issued)

Oracle

@PythNetwork

Liquidity Mining

@superformxyz (not yet coined)

L1 chains (only a few of the top 30+)

@Ethereum

@Solana

@SuiNetwork

@Aptos

@SeiNetwork

@injective

@FantomFDN

@monad_xyz (not yet coined)

@berachain (not yet coined)

And that’s not all, the Wormhole ecosystem is going to be huge.

Once $W staking goes live (which has already been confirmed in Discord) and this airdrop narrative gains traction, things are going to get crazy.

At the same time, the Wormhole team has been working tirelessly to expand its support for chains and is committed to developing state-of-the-art technologies such as native token transfers or trust-minimized message verification powered by ZK.

All of the above are very bullish for W. Now, let’s answer the original question, do you still want to sell your W?

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