A whale (8PjkZ) just made an extremely aggressive move on Wormhole after analyzing on-chain metrics.
$W printed an all-time low at $0.0117 on April 14 and is now only ~10% higher, trading around $0.013.
Just 2 hours ago, the whale stepped in heavily, accumulating ~41M $W (~$543K) on Gate in a single buy.
This is a high-conviction, high-risk position: Wormhole launched at a ~$16B FDV and has since collapsed to ~$132M — a ~99% drawdown — while still competing in the cross-chain sector.
The bet is straightforward: the market may have already priced in extreme downside, and a move to zero is unlikely from here.
Market odds of Jerome Powell no longer serving on the Federal Reserve Board by May 30th have surged to 55%, following reports that the DOJ has dropped its criminal probe.
Meanwhile, Kevin Warsh is now being positioned as a leading candidate for the next Federal Reserve Chair.
If this shift plays out, it wouldn’t just be a personnel change — it could reshape U.S. monetary policy expectations heading into a highly sensitive macro cycle.