Wormhole Rises 16.48% as Spot Netflows Stay Positive

Wormhole (W) rose 16.48% to $0.016177 on Oct. 8 while spot-market netflows remained positive and technical readings indicated overbought conditions.

W reached $0.0161, up 16.21% over 24 hours, at 6:37 a.m. ET (10:37 UTC), after reaching a session high of $0.0184. Another market reading put the token at $0.016177 at 5:10 a.m. ET (9:10 UTC), with 24-hour volume of 4,701,560,734 W worth more than $76.06 million.

W rose from $0.01474 to an intraday high of $0.01622 during the Oct. 7-8 data window, then closed at $0.01615 after reaching a low of $0.01369. Available market data do not confirm a 27% gain.

Spot netflows were positive at $226,620 on Oct. 7 and approximately $567,000 on Oct. 8. Spot netflow measures the difference between buying and selling activity across spot markets.

Technical readings added caution to the advance. W’s Relative Strength Index was about 78.03, and the token traded above its upper Bollinger Band at 8 a.m. ET (noon UTC). A separate reading put W’s RSI at 75.969 at 2:41 a.m. ET (6:41 UTC). Both RSI readings were above 70, a commonly used threshold for overbought conditions.

The move extended W’s gains from an earlier altcoin rally. Wormhole previously gained 17.8% to $0.0163 during a session in which several altcoins advanced while the broader crypto market declined.

Wormhole describes itself as an interoperability platform connecting assets, data and applications across blockchain networks. W is the protocol’s native token, with a maximum supply of 10 billion tokens; 82% of the supply was initially locked for release over four years.

Wormhole announced in Sept. 2025 that it would replace several annual token unlocks with biweekly releases beginning Oct. 3, 2025. The maximum supply would remain capped at 10 billion W.