Seizing Opportunity: Wormhole's Launch and Solana's Momentary Dip

[MemeInSight]

The recent launch of Wormhole on April 3, 2024, and its integration with Solana has led to a temporary dip in Solana's market price, primarily due to a mass sell-off of airdropped W tokens. Wormhole, a cross-chain onboarding tool, aims to enhance interoperability between Solana and other blockchains, marking a significant step towards a more interconnected crypto ecosystem. While the initial reaction saw a decline in Solana's value, this movement is seen within the context of typical market responses to airdrops and new token introductions, which historically precede recovery and growth as the new features' benefits become apparent.

This situation presents a strategic opportunity for investors to buy into a fundamentally strong asset at a lower price. Historically, dips caused by similar events have often offered moments for savvy investors to enter or increase their positions in projects with solid fundamentals and strong community support. By approaching the dip with strategies such as dollar-cost averaging and setting buy limit orders, investors can potentially mitigate risk and capitalize on the long-term growth prospects of Solana, especially as it expands its capabilities and ecosystem through Wormhole's interoperability features.

What are your thoughts?

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[nelson4lov]

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What are your thoughts?

Full disclosure: I didn't get any $W token neither have I interacted with the protocol in the past. I have been concerned with Layerzero instead but W has been all the rage in the days leading to its TGE. I couldn't capitalize  heavily on the dip to $0.94. I only purchasd a small bag due via Backpack due to the fact that I figured that it's a 2-for-1 deal in that I can create volume with the potential price increase.

My problem with W is the super high valuation. For a protocol get to prove itself, wormhole has a FDV of over $11B. That is very close to Arbitrum and arbitrum is a blockchain while wormhole is a cross chain messaging protocol. I find that FDV to be too high. At most, W should do around 100% max increase in price. Not more.

[Bureau]

I won't be looking into any projects on Solana with utilities. It's a bad choice as the current market is of meme coins and most success stories are coming from meme coins that are using Solana network. For me it is better to invest in a meme coin at the moment than in a crypto that is trying to improve a blockchain like Solana.

[X-ray]

I don't like the product built by wormhole but i was eligible for airdrop. I don't see this token's potential owner other than being a governance token. There may be some developers that can give tokens more utilities, but I said no for W this time. It's big caused by it was getting hyped by solana community.

I remind you that W is not also dapps and was only a bridge. I'm also very disappointed to see that the developers of this token gave very big chunks of token to the Monad community, lol. I saw that many people hyped this token, but I see that Ethera is a much preferrable token to hold.

Many projects these days have very big FDV since they list their tokens on exchange sites. This makes me doubt the token's sustainability in the long term. There are many things in W that makes me doubt with it.




Look at the W token release schedule; it's not worth holding this for the long term since W does not have a blockchain. VC will dump their bags on you.

[poodle63]

its gonna be the same like ethena i'm guessing after the airdrop is live there gonna be massive price downfall that occurred and its good time for investor to get in.
even though the tkoen release schedule as mentioned by some above should be a concern honestly as i've seen most of the people that invests in these new coin are too fixated on the current circulating supply.
holding it for a month or a little bit more is gonna be fine the market price won't change significantly.
it only will become concern if we are talking about years long holding since much more circulating supply means bigger market cap and that means lower price of token as well.
overall its always one of the good newly listed that might be beneficial to invest at early phase then good to escape when it atleast rise 50% to move on to the other new coin that gets listed.
talking about new listed coin, there are so many of them these days.

[hugeblack]

It is true that these updates are good but I am not supportive because the current Solana value is low and may be the beginning of good investments.
If you intend to invest, it is better to wait for a clear correction of the price and then decide to invest, but due to the current situation, the problem of Solana in centralization has not been solved.

[GreatArkansas]

I won't be looking into any projects on Solana with utilities. It's a bad choice as the current market is of meme coins and most success stories are coming from meme coins that are using Solana network. For me it is better to invest in a meme coin at the moment than in a crypto that is trying to improve a blockchain like Solana.

I don't think so, memecoins right now are risky, you don't have any basis or use case, they are just memecoin. So if you want to take the risk or gamble, then go for meme coins.
Right now, what we are talking about is a project that has use cases, Wormhole project is big and useful to everyone, it's not a joke.

[justdimin]

I don't think so, memecoins right now are risky, you don't have any basis or use case, they are just memecoin. So if you want to take the risk or gamble, then go for meme coins.
Right now, what we are talking about is a project that has use cases, Wormhole project is big and useful to everyone, it's not a joke.

Not only now but they are always risky and there are some meme coins who tries to pretend like they are a normal crypto because they try to have other cases but I think they still ended up being a failure. Investing in any crypto, whether a meme coin or not, is a gamble because all has their own set of risks but obviously meme coins will always be a bad choice. Anyway by hearing the word wormhole, it reminds me of an old crypto project (not a meme coin) which name is similar to that but that one didn't survive long. Maybe this one here is still different and can truly do better. Who knows?

I won't be looking into any projects on Solana with utilities. It's a bad choice as the current market is of meme coins and most success stories are coming from meme coins that are using Solana network. For me it is better to invest in a meme coin at the moment than in a crypto that is trying to improve a blockchain like Solana.

Why not? You know the hype of meme coins are only temporary but those coins with solid utilities are long-lasting.