Wormhole just unlocked 1.28 billion W tokens today

That is 22.8% of the entire circulating supply added in a single day.

To put that in perspective, the current market cap of W sits around $78.8 million. The tokens hitting circulation today come from team, private round investors, ecosystem allocation, and treasury. These are not retail wallets. These are people who got in early, and they now have fresh supply they can move.

The price coming into this unlock was already sitting at roughly $0.014, down from higher levels earlier this year. When a token is already under pressure and a supply shock of this size lands, the math is not friendly.

No confirmed large on-chain transfers have been flagged yet as of early April 3. That silence can mean two things. Either the recipients are holding, or the movement has not shown up in public trackers yet. History with Wormhole unlocks shows relatively muted immediate reactions, but the broader market conditions today are not the same as past unlock windows.

The 24-hour volume is sitting around $18 million. If even a fraction of today's unlocked tokens hit the open market, that volume gets absorbed fast.

Wormhole is a legitimate cross-chain infrastructure project. That does not change what a 22.8% circulating supply increase does to price dynamics in a low-liquidity environment.

The unlock happened. Now you watch wallets.

#Wormhole #altcoins