Wormhole Price Eyes 20-30% Rally as The Open Interest Spike

Highlights:

• The Wormhole price increases 17% to $0.088.
• The recent surge comes amid the US Department of Commerce’s collaboration with Wormhole.
• Bullish technical indicators signal more upside above $0.100 mark.

The Wormhole price has surged 17% to $0.088 in the past 24 hours, after reaching an intraday high of $0.100. Its daily trading volume has notably spiked 1315% indicating intense market activity and investor confidence. This surge comes as the U.S. Department of Commerce collaborates with Wormhole. The decision was confirmed in a memorandum to President Donald J. Trump dated August 28, 2025. It noted the addition of multichain interoperability and cryptographic verifiability to modernize the management of official statistics.

🏛️ The U.S. Department of Commerce has selected Wormhole ecosystem team @PythNetwork to verify and publish economic data onchain, with all multichain data interoperability powered by @wormhole.

Learn more below ⤵️ pic.twitter.com/yt01T40iM7

— Wormhole (@wormhole) August 28, 2025

This project will transform the level of data disclosure by releasing quarterly GDP data over the past five years. Notably, expansion will be made in the future to incorporate more economic data. The evolution marks a new era of decentralized technology, enabling connections between government institutions and blockchain innovation. The move to include official information in unchangeable books by the Commerce Department represents an effort to simplify the need to build on the trust, access, and accuracy in economic reporting.

Today’s announcement by @howardlutnick & @realDonaldTrump marks a landmark step for the adoption of decentralized technology, validates Pyth’s role as the most trusted data source, and solidifies Wormhole's role as the most secure multichain data messaging protocol.

— Wormhole (@wormhole) August 28, 2025

Wormhole Price Bounces Off Support, Eyeing Further Upside

After the announcement, the native token of Wormhole registered a dramatic increase in trading activity. The derivative data analysis indicates that the volume increased by a substantial 1858.83% to a high of $1.07 billion, with the open interest up by 92.01% to $73.86 million. The speculative interest shows a wave of bullish optimism across exchanges.

The Long/short ratio at 0.9889 indicates a high confidence of the best traders. Meanwhile, positions totaling almost $959.70K were liquidated in a near 50 to 50 long-short split. Nevertheless, the long positions prevail, indicating that traders are taking on risk in the hope that growth will continue. The 4-hour chart shows that Wormhole price has broken out of a symmetrical triangle, hitting $0.10 before correcting to $0.088. Moreover, the bulls still have the upper hand, with strong support at $0.081 and $0.078. 

Additionally, the RSI at 61.41 and the bullish MACD crossover indicate upward momentum. However, the recent spike can allow for some short-term instability. At the moment, traders and investors can add more W tokens unless the trend in MACD changes. Moreover, the RSI is not yet overbought, indicating that the bulls could still push the market to the upside. In other words, the buying pressure in the market is still intense. 

Break Above $0.100 Could Trigger a Rally

The recent collaboration is a game-changer, signaling strong confidence in Wormhole’s strong multichain data interoperability. With this momentum, the Wormhole price could easily retest $0.10 in the short term and potentially spike to $0.50 if volume continues to pump. The 17% jump today could be just the warmup. W token could enter into a 20-30% rally within the next month if the collaboration delivers. However, there are risks. A failure to break $0.10 could see the Wormhole price slide back to $0.081 or lower if panic selling occurs.