The native token of Sam Altman’s iris-scanning initiative, Worldcoin, has encountered a significant setback, with its token, $Wld, witnessing a sharp decline of 15% within the past day, hitting a low of $4.953.
The daily trading volume of WLD has surged to $920 million, marking a remarkable 127% increase. This surge in trading activity comes amidst a challenging period for Worldcoin, as its price has plummeted by 18% over the last week, facing notable selling pressure from investors.
Whale Deposits $WLD Tokens Into Exchanges
In response to the downward trend, a notable whale recently took action to mitigate losses by depositing all 624,479 $WLD tokens, valued at $3.33 million, into Binance. This move resulted in a loss of approximately $50K for the whale.
The whale had accumulated 624,479 $WLD tokens over the past month from Binance, acquiring them at an average price of $5.42. However, faced with the ongoing decline in price, the decision was made to deposit these tokens into Binance just four hours ago.
The significant drop in the price of Worldcoin’s native token, coupled with the surge in trading volume, underscores the current challenges facing the project. Investors and traders are closely monitoring the situation, hoping for a turnaround in fortunes for Worldcoin amidst the volatile market conditions.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.