# Wormhole (W) — crypto price, market cap and strength versus Bitcoin

> Wormhole trades at $0.008 with a market capitalisation of $62.9M (rank 377). Over 90 days it is -17.6% against Bitcoin and sits below its 200-day average. Interoperability/Bridges as a theme is -17.1% against Bitcoin over 13 weeks. Price readings run through 2026-07-31.

## Agent research brief

- What this coin is: Wormhole (W), a Interoperability/Bridges token of $62.9M at market-cap rank 377. On-chain activity is sourced from protocol.
- What the tape says: -17.6% versus Bitcoin over 90 days; below its 200-day average. Interoperability/Bridges as a theme is -17.1% against Bitcoin over 13 weeks.
- What the evidence supports: 42.4/100 inside Interoperability/Bridges on 71% evidence (43% of it native activity). Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.
- What is missing: There is no valuation band for any coin on this site: historical market capitalisation is not held, so no PE-style range can be built. Wormhole does publish network fees, protocol revenue, total value locked.

Theme: Interoperability/Bridges (/mla/crypto/sector/interoperability-bridges). Price 2026-07-31; market-cap snapshot 2026-07-04.

## Price, returns and risk

Wormhole is -89.6% over one year, -37.8% over 90 days and -13.2% over 30 days. Annualised 30-day volatility is 55%. Its deepest fall from a high inside the last 90 days is 51%. It trades below its 200-day average, which is falling.

- Price: $0.0080
- Market cap: $62.9M (rank 377)
- Returns: 7d -11%; 30d -13%; 90d -38%; 180d -65%; 1y -90%
- RS versus Bitcoin, 90d: -18%
- 30-day volatility: 55% annualised; deepest 90-day fall 51%
- 200-day average: $0.0154, trading below it

## Protocol economics

Wormhole publishes 3 of the six network-economics series this site tracks: network fees, protocol revenue, total value locked. Network fees over the last four complete quarters is $661.7K. Network activity is evidence about the protocol, not earnings owed to the token. Readings run to the Q2 2026 quarter.

- Network fees: trailing four quarters $661.7K; change —; covered 5/20 quarters
- Protocol revenue: trailing four quarters $0; change —; covered 5/20 quarters
- Total value locked: latest quarter $2.1B; change -20%; covered 20/20 quarters

## Research score

Wormhole: 42.4/100 — Tape-led · on-chain proof incomplete; 10.5 + 15.6 + 5.4 + 10.9 = 42.4; evidence 71%; native evidence 43%; rank 6 of 9 rated Interoperability/Bridges coins
Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.
This weakens if: The read weakens if 90-day RS versus BTC falls below zero with two weekly closes below the 200-DMA, or native activity contracts for two complete calendar quarters.

No valuation band exists for any coin on this site: historical market capitalisation is not held, so no company-style valuation range can be built.

## Interoperability/Bridges scorecard

Wormhole is one of 11 Interoperability/Bridges coins here, 9 of which carry enough evidence to be rated and ranked. Wormhole ranks 6 of those 9 on 71% evidence. The table below is the theme's own scorecard, in its own order, with this coin marked.

- 1. deBridge (DBR): score 67.6; evidence 91%; Illiquid · research only
- 2. Hyperlane (HYPER): score 53.2; evidence 28%; Illiquid · research only
- 3. LayerZero (ZRO): score 50.3; evidence 12%; Illiquid · research only
- 4. Axelar (AXL): score 48; evidence 12%; Illiquid · research only
- 5. Threshold Network (T): score 45.5; evidence 50%; Tape-led · on-chain proof incomplete
- 6. Wormhole (W) [this coin]: score 42.4; evidence 71%; Tape-led · on-chain proof incomplete
- 7. Across Protocol (ACX): score 40; evidence 47%; Illiquid · research only
- 8. ICON (ICX): score 35.8; evidence 55%; Illiquid · research only
- 9. ZetaChain (ZETA): score 25.8; evidence 75%; Illiquid · research only

## Limitations

- Crypto network activity is not company earnings. Protocol revenue does not automatically accrue to token holders.
- Market capitalisation is a dated snapshot, not a point-in-time historical supply series, so yields computed against it inherit that lag.
- No valuation band exists for any coin: historical market capitalisation is not held at all.
- Funding rates, open interest, liquidations, exchange flows, unlock schedules and developer activity are not held and are not inferred.
- The research score is relative to this coin's own theme only. It is not comparable across themes and is not an entry signal.

## FAQs

### What is Wormhole (W)?

Wormhole is a Interoperability/Bridges cryptocurrency tracked here by price, market capitalisation and strength against Bitcoin, with on-chain activity from protocol. It is one of 11 Interoperability/Bridges coins on this site. Readings are as of 2026-07-31.

### What is the market cap of Wormhole?

Wormhole's market capitalisation is $62.9M, ranking it 377 in the top-1,000 crypto universe. That figure is a dated snapshot from 2026-07-04, refreshed separately from the daily price series, so it can lag the price shown above.

### Is Wormhole beating Bitcoin?

Wormhole is -17.6% against Bitcoin over 90 days, and its own theme, Interoperability/Bridges, is -17.1% over 13 weeks. It trades below its 200-day average as of 2026-07-31.

### Does Wormhole have a P/E ratio?

No. There is no company-style P/E or PEG for a crypto token, and no valuation band is shown on this page because the data to build one honestly does not exist: historical market capitalisation is not held, only a current snapshot. Where a protocol publishes fees or revenue, this page shows the yield against that dated snapshot instead.

### What is Wormhole's research score?

42.4/100 within Interoperability/Bridges, ranked 6 of 9 rated Interoperability/Bridges coins, on 71% evidence: 10.5 + 15.6 + 5.4 + 10.9 = 42.4. It is labelled “Tape-led · on-chain proof incomplete”. The score ranks research attention inside one theme, never portfolio action.

### How much Wormhole history does this page show?

Five years of weekly closes where they exist, plus 20 complete calendar quarters of on-chain activity for the metrics Wormhole actually publishes. Here that is network fees, protocol revenue, total value locked.

### Does Wormhole generate network fees?

Wormhole's trailing twelve-month network fees is $661.7K. Network activity is not token-holder earnings: whether it accrues to the token depends on the protocol's own burn, buyback and distribution rules.