WormholeW

The governance token of Wormhole, a messaging network that moves tokens and data between blockchains.

Rank #321Since April 2024

Price on 31 Oct 2026

C$0.0160 +41.1% since 31 Jul 2026 · 99.3% below its all-time high

The short version

W is the governance and staking token of Wormhole, a cross-chain messaging and bridging network secured by 19 'Guardian' validators. It was incubated by Jump Crypto and raised US$225M at a US$2.5B valuation in Nov 2023. On 22 Oct 2026 Wormhole was chosen to provide cross-chain messaging for BlackRock's BUIDL fund through Securitize, limited to pre-approved investors. On 31 Oct 2026 one W cost C$0.0160. From 31 Jul 2026 to 31 Oct 2026 its price changed +41.1% in Canadian dollars, and it was 99.3% below its all-time high of C$2.25 set on 3 Apr 2024.^[1]

Checked 31 Oct 2026 · 18 sources · next update about 1 Dec 2026

Price, past year

Past year: high C$0.0944 (2 Nov 2025) · low C$0.0111 (2 Aug 2026) · -82.3%^[1]

Month-end prices (table)

Date	C$	US$
31 Oct 2026	C$0.0161	US$0.0115
30 Sep 2026	C$0.0193	US$0.0136
31 Aug 2026	C$0.0125	US$0.00901
31 Jul 2026	C$0.0116	US$0.00824
30 Jun 2026	C$0.0138	US$0.00969
31 May 2026	C$0.0161	US$0.0117
30 Apr 2026	C$0.0169	US$0.0125
31 Mar 2026	C$0.0202	US$0.0145
28 Feb 2026	C$0.0336	US$0.0245
31 Jan 2026	C$0.0405	US$0.0300
31 Dec 2025	C$0.0462	US$0.0338
30 Nov 2025	C$0.0630	US$0.0449

Daily prices from CoinGecko; C$ converted at the Bank of Canada daily rate. The latest point is live when available. Past prices, not a forecast.

Choose what to see

Key facts

Price, 31 Oct 2026: C$0.0160^[1]
3-month change: +41.1% in C$ (31 Jul 2026 to 31 Oct 2026)^[1]
From its high: 99.3% below its high of C$2.25 (3 Apr 2024)^[1]
Market rank: #321, market value about C$107.3M^[1]
Kind: Token · Solana (SPL); also on Ethereum, Arbitrum and Base
Started: April 2024

Checks: the same 9 questions for every coin

Facts, not a rating

Can an admin key create new coins?YesWormhole's 13-of-19 Guardian multisig can grant mint rights on Ethereum; Solana mint authority revoked^{[2, 3, 4, 5]}

Can anyone freeze or take coins from holders?NoNo freeze authority on Solana; Ethereum contract has no pause, blacklist or burn-from^{[5, 2]}

Can the token's contract code be changed?YesUpgradeable proxy contract on Ethereum^[6]

Is the supply capped?No10B fixed on Solana, but Guardians can authorize more W on Ethereum^{[5, 2, 3]}

Any scheduled unlocks in the next 12 months?YesAbout 1.85B W, 27.5% of circulating^[7]

Does a team or foundation hold over 10% of supply?YesFoundation treasury 23.3%, core contributors 12%, strategic 11.6%, Guardians 5.1% of supply^[8]

Do network fees reach coin holders?YesThe Reserve accumulates W with protocol revenue; amounts not disclosed^[9]

Main network hacked or halted in the past 2 years?NoThe Feb 2022 bridge exploit is outside the window; none found since^{[10, 11]}

Is a regulator or court case targeting the coin itself?NoNo live regulator or court case found^[12]

Each answer is a fact with a source, not a score. What each check means.

Who controls it

Run by: Wormhole Foundation and Wormhole Labs (CEO Saeed Badreg); 19 Guardian validators^{[13, 9]}
Backers: Incubated by Jump Crypto; US$225M raised at a US$2.5B valuation (Nov 2023)^[13]
Allocation: Ecosystem 31%, Foundation treasury 23.3%, community 17%, core contributors 12%, strategic 11.6%, Guardians 5.1%^[8]

Supply

In circulation: 6.73B W of a 10.00B maximum (67.3%)^[1]
Fully diluted value: 1.49 times its current market value^[1]
Supply: 6.73B circulating of a 10B maximum (67.3%)^{[13, 8]}
Unlocks: About 50.4M W every two weeks from 13 Nov 2026, plus Foundation treasury releases^[7]
Next 12 months: About 1.85B W, 27.5% of circulating^[7]

Use and fees

Main use: Governance and staking; the Wormhole Reserve accumulates W from protocol revenue^[9]
Network fees: Portal bridge US$0.354M in the past year^[14]
Clients: Cross-chain messaging for BlackRock's BUIDL fund via Securitize (22 Oct 2026)^[12]

Trading

Daily trading: About C$28.5M a day on average, 31 Jul 2026 to 31 Oct 2026^[1]
Daily turnover: Typically 12.90% of its market value changes hands each day^[1]
20-week average: 6.4% above its 20-week average price^[1]
1-year change: -82.6% in C$^[1]^[15]

History

Not a forecast

Coins ranked 201-500 at this point in past cycles (12-14 months after a Bitcoin peak), one year later: 8,067 cases, 1,187 coins

33% were higher a year later^[16]

Typical result: Median -38% after a year; 33% higher after two years
Lost half or more: 44% within a year
Against Bitcoin: 11% did better than Bitcoin over the year

History, not a forecast.

Red flags and things to watch

2 red flags found

Red flag: About 1.85B W, 27.5% of circulating supply, unlocks in the 12 months from Nov 2026.^[7]
Red flag: Wormhole's 19 Guardians, by a 13-of-19 signed governance message, can grant new mint rights on the Ethereum W contract (checked 1 Nov 2026).^{[2, 3, 4]}

The next unlock, about 50.4M W including core contributors' share, is due on 13 Nov 2026; tranches follow every two weeks.^{[7, 17]}
The Wormhole Reserve, launched in Sep 2025, had not disclosed its W balance by 31 Oct 2026.^{[9, 18]}
In Feb 2022 an exploit minted about 120,000 wETH without backing on Solana; Jump Crypto replaced the funds.^[10]

Checked: admin keys, contract upgrades, unlocks, insider supply, hacks, legal actions and claims against records.

Sources and dates

Facts as of 31 Oct 2026. Prices from CoinGecko in Canadian and US dollars; US$ figures without a C$ price are converted at 1.3976 C$ per US$.