Recently, the Worldcoin ecosystem’s native token, WLD, has been stirring interest in the cryptocurrency market. The surge in WLD’s value has been notably driven by substantial purchases made through wallets associated with institutional investors. Over the last 24 hours, WLD gained approximately 4%, nearly reaching the $0.50 mark and drawing significant attention from investors. This increase isn’t just reflected in price but is also supported by rising volume and on-chain data.
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According to the on-chain data platform Lookonchain, a wallet linked to Multicoin Capital executed an over-the-counter (OTC) transaction, spending 30 million USDC to acquire a total of 60 million WLD. The purchase, made at an average price of $0.50, signals a strong institutional demand in the eyes of market observers. OTC transactions often aim to conduct large-volume purchases without directly impacting the market, possibly suggesting a long-term investment strategy.
On the other hand, data from Santiment reveals that WLD’s trading volume witnessed a dramatic surge, reaching $1.46 billion on Wednesday—a record high for the year and activity not seen since July 2024. This spike in volume indicates growing interest not just from individual investors but also from substantial market players. Furthermore, whales holding between 1 million and 100 million WLD have reportedly accumulated over 150 million tokens in the recent price pullbacks.
Technical Outlook and Market Agenda
Technically, the market’s mood is cautiously optimistic. Although the overall structure of the WLD/USDT pairing remains weak in four-hour charts, the recent upswing strengthens the possibility of a short-term recovery. Should the price surpass the daily resistance around $0.56, the 50-day exponential moving average at $0.63 could become the new target. The RSI indicator moving upward at 49 also suggests that buyers are regaining strength. However, it’s crucial for the RSI to cross above 50 for sustained momentum.
These dynamics align with a broader narrative of rising institutional interest in the crypto market. A similar buzz recently surrounded another popular altcoin experiencing substantial fund acquisitions. Particularly, projects centered around artificial intelligence and identity verification are coming back into the spotlight, aligning with 2025 expectations. This context shows that projects like WLD are evaluated for their long-term narratives, not just short-term price movements.
In summary, the rally in WLD is fueled not only by speculative buying but also by substantial volume and institutional interest. Yet, the lack of a clear confirmation of an upward trend in technical indicators warrants caution among investors. The market’s response to crucial resistance levels in the coming days will determine the longevity of this momentum.
