Coinbase to list Wormhole (W) on Solana network

Coinbase to list Wormhole (W) on Solana network

Coinbase has announced its intention to list Wormhole (W) on its Solana network, a strategic move that could significantly boost liquidity and visibility for the token. This development comes as Wormhole's ecosystem gains popularity and faces increased competition from other major players in the interoperability space, such as Cosmos and Polkadot.

Wormhole (W) has experienced a dramatic drop in price, falling more than 80% from its year-to-date high of $0.317, with nearly 96% of holders underwater. Despite this, several emerging catalysts suggest a potential bullish reversal. First, Wormhole has partnered with Ripple to bring multichain support to the XRP Ledger (XRPL) and Ripple's new EVM-compatible sidechain, expanding its interoperability capabilities. Second, Coinbase's addition of Wormhole to its listing roadmap could serve as a major catalyst, driving renewed hype and upward price momentum. Lastly, Wormhole appears to be forming a double-bottom pattern on the daily chart, suggesting a potential bullish reversal [3].

If Wormhole successfully completes the double-bottom pattern and breaks out above the neckline, it could signal a shift in market structure and drive a rally toward the $0.20 resistance level, representing a gain of over 200% from current prices. However, if the token fails to hold the $0.05 support level, the double-bottom setup would be invalidated, potentially accelerating downward pressure.

This listing on the Solana network could enhance Wormhole's liquidity and accessibility, potentially attracting more investors and users. As Coinbase continues to expand its multi-asset support, it aims to cater to a diverse user base seeking efficient access to multiple blockchain assets, fostering a more interconnected DeFi landscape.

References:

[1] https://www.banklesstimes.com/articles/2025/06/26/invesco-and-galaxy-digital-file-s-1-for-solana-etf/
[2] https://en.coinotag.com/coinbase-may-expand-cardano-wrapped-token-offering-on-base-layer-2-network/
[3] https://crypto.news/three-reasons-why-wormhole-could-be-gearing-up-for-a-major-rally/