Worldcoin Up 23% As Trading Volume Skyrockets

Worldcoin ( WLD ) has surged by 23.6% in the past 24 hours, reaching $6.50 for the first time in three weeks. The asset's market cap is currently at $1.32 billion, making it the 70th-largest digital currency. The daily trading volume of Worldcoin ( WLD ) recorded a 109% rally, reaching $520 million. The total open interest of Worldcoin ( WLD ) increased by 21.5%, rising from $131.9 million to $160.3 million.

Higher price volatility is expected due to whale activity and potential liquidations. The total WLD funding rate aggregated from all exchanges dropped from 0.008% to 0.001% in the past 24 hours, indicating increased open interest primarily from augmented short positions. The number of traders betting on a WLD price fall has increased with the asset's price rally.

The Worldcoin ( WLD ) exchange inflow is currently at 454,380 WLD , while the exchange outflow is at 542,360 WLD , recording a net outflow of 87,980 coins in 24 hours. On-chain movements indicate that some investors are accumulating Worldcoin ( WLD ) despite bearish expectations. The WLD Relative Strength Index (RSI) rose from 40 to 61.38 over the past 24 hours, suggesting a slightly overbought asset.

The daily price chart of Worldcoin ( WLD ) depicts a Bullish "Symmetrical Triangle" which suggest continuation of the current trend in the near term.