On September 25, Worldcoin faced a significant selloff by large holders, yet it managed to maintain upward momentum, rising by 17.3% to reach $2.12. As a result, the asset’s market capitalization surpassed $1 billion, positioning it as the 69th-largest cryptocurrency.
The daily trading volume for Worldcoin experienced an impressive 85% increase, totaling $430 million. According to IntoTheBlock, large holders of Worldcoin saw outflows of 6.23 million WLD, valued at approximately $13.15 million, indicating that the number of whales selling far outweighed those accumulating the asset.
Typically, whale selloffs signal panic or profit-taking, which often leads to price declines. However, Worldcoin has shown resilience, recording a remarkable 32% price increase over the past week despite the significant selloff.
Previously, on August 21, Worldcoin experienced a 40% drop below the $1.40 mark, leaving over 92% of its holders in a loss. Current data reveals that the percentage of WLD holders suffering losses has since decreased to 68%.
A key factor driving the recent price surge is Worldcoin’s announcement of the launch of World ID in three new countries: Guatemala, Malaysia, and Poland. However, it’s worth noting that price increases following major announcements can often be temporary. If the whale selloff continues, a price correction may be on the horizon for WLD.