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Worldcoin recorded over $9M whale sell-off on Friday, stalling the recent recovery and dragging WLD lower towards $2...
recorded massive profit-taking by whales to capitalize on its recent 22% recovery gains. In fact, according to the analytics platformNearly 5M WLD tokens were dumped on centralized and decentralized exchanges, as illustrated by the spike in Exchange Inflows .In January alone, supply on exchanges has risen from 126M to 141M WLD coins – A sign of short-term supply pressure and profit-taking activity.Here, it’s worth pointing out that supply outside exchanges slightly dropped from 9.
The same bearish pulse was also evident on the network activity front. Daily active addresses retreated lower too, highlighting muted market interest in the altcoin.However, at the time of writing, the weighted market sentiment hovered near the neutral level – A sign that the market was 50/50 on WLD’s price prospects.
A positive surge in weighted sentiment could indicate high odds of recovery. Especially ahead of the anticipated post-inauguration altcoin rally. That being said, WLD retested the $2 price zone – A key demand zone since mid-December. If defended, the area could act as a springboard for an extended recovery towards $2.5 or the overhead supply at $2.8.Benjamin is a Telecommunication Engineering graduate who is passionate about crypto-markets and unraveling market trends. Armed with charts and patterns, he's interested in making the intricate, complex landscape of digital assets more palatable for every user.
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