As a seasoned analyst with years of experience navigating the volatile cryptocurrency market, I find myself intrigued by Worldcoin’s (WLD) recent performance. The asset’s resilience in the face of a significant whale selloff is indeed noteworthy and suggests a level of investor confidence that goes beyond mere hype.
Yesterday, September 25th, there was a significant sale of Worldcoin by large investors (whales), yet the coin persisted in its upward trend.
As a researcher, I’m observing an intriguing surge in the value of Worldcoin (WLD). In just the past 24 hours, it has climbed by an impressive 17.3%, currently trading at $2.12. Notably, this recent growth has once again propelled its market capitalization beyond the $1 billion mark, positioning it as the 69th-largest digital currency in the current landscape.
WLD’s daily trading volume also recorded an 85% rally, reaching $430 million.
Based on information from IntoTheBlock, there were significant outflows (transfers) of Worldcoin (WLD) worth around $13.15 million, totaling 6.23 million WLD, on September 25th. This trend indicates that a larger number of large investors (whales) sold the asset compared to those who were buying and holding it.
Typically, large whale transactions in the market suggest either periods of fear or cashing out, both scenarios often result in price drops. However, contrary to expectations, WLD has experienced a 32% increase in price over the last week, despite the significant whale selloff.
According to an August 21st article from crypto.news, Worldcoin’s 40% drop in value below the $1.4 threshold left more than 92% of its owners with a financial loss.
At the given point in time, data from ITB indicates a decrease to approximately 68% of World Line Dollar (WLD) holders experiencing losses.
A significant factor fueling the increase in WLD‘s price is the latest news from the company. Namely, Worldcoin unveiled that they have expanded World ID to three additional nations: Guatemala, Malaysia, and Poland.
Keep in mind that when there are significant announcements, any price increases tend to be temporary. Should the selling from ‘whales’ persist, it’s reasonable to anticipate a drop in the WLD price.
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2024-09-26 10:46