Worldcoin rises as top gainer, trading volume surges


In the last 24 hours, WLD surged by 23.6%, reaching $6.50, a level unseen in three weeks. Its market cap stands at $1.32 billion, ranking it as the 70th largest digital currency.

WLD metrics – May 6 | Source: Santiment

Additionally, Worldcoin’s daily trading volume surged by 109%, hitting $520 million.

Based on Santiment data, the total open interest for WLD rose by 21.5% in the last day, climbing from $131.9 million to $160.3 million at the time of reporting.

Given the increased trading volume and the sudden rise in Worldcoin’s open interest, one would anticipate higher price volatility stemming from whale activity and potential liquidations.

Information from the market intelligence platform indicates a decrease in the total WLD funding rate across all exchanges, falling from 0.008% to 0.001% within the last 24 hours. This shift suggests that the heightened open interest largely stems from increased short positions.

Put plainly, the number of traders speculating on a decline in WLD’s price has notably risen alongside the asset’s price surge.

As per Santiment, Worldcoin’s exchange inflow stands at 454,380 WLD, with the exchange outflow hovering around 542,360 WLD, resulting in a net outflow of 87,980 coins over 24 hours. These on-chain transactions suggest that despite bearish expectations, some investors are accumulating Worldcoin.

Significantly, according to Santiment, the WLD Relative Strength Index (RSI) increased from 40 to 54 within the last 24 hours. This indicator suggests the asset is somewhat overheated, and an RSI below 50 might indicate a more stable price uptrend.

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