Bitcoin

Worldcoin

Read

Worldcoin (<a href="https://crypto.news/price/worldcoin/" rel="">WLD</a>) has emerged as the top gainer among the leading 100 cryptocurrencies amid bullish market sentiment. 
WLD surged by 23.6% in the past 24 hours and is trading at $6.50 at the time of writing — reaching this level for the first time in three weeks. The asset’s market cap is currently hovering at $1.32 billion, making it the 70th-largest digital currency. 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14270617"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/05/Worldcoin-on-Ethereum-WLD-13.24.51-06-May-2024-1024x347.png.webp"> 
 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2024/05/Worldcoin-on-Ethereum-WLD-13.24.51-06-May-2024-1024x347.png" alt="Worldcoin emerges as top gainer, trading volume skyrockets - 21"> 
 </picture> 
 <figcaption class="wp-element-caption">
 WLD price, RSI, exchange activity, open interest and funding rate – May 6 | Source: Santiment
 </figcaption>
</figure> 
Moreover, the daily <a href="https://crypto.news/glossary/volume-in-crypto-trading/" rel="">trading volume</a> of Worldcoin recorded a 109% rally, reaching $520 million.&nbsp; 
According to data provided by Santiment, the WLD total open interest increased by 21.5% over the past day — rising from $131.9 million to $160.3 million at the reporting time. 
 You might also like: <a href="https://crypto.news/bitcoin-outperformed-amazon-netflix-over-last-decade/" rel=""> Bitcoin outperformed Amazon, Netflix over last decade </a> 
With the heightened trading volume and the sudden surge in Worldcoin’s open interest, higher price volatility would be expected due to whale activity and potential liquidations. 
Data from the market intelligence platform shows that the total WLD funding rate aggregated from all exchanges dropped from 0.008% to 0.001% in the past 24 hours. This movement shows that the increased open interest has mostly come from augmented short positions. 
In simple terms, the number of traders betting on a WLD price fall has impressively increased with the asset’s price rally. 
According to Santiment, the <a href="https://crypto.news/why-worldcoin-is-boosting-token-supply-amid-regulatory-pressure/" rel="">Worldcoin</a> exchange inflow is sitting at 454,380 WLD while the <a href="https://crypto.news/learn/what-is-a-cex-a-beginners-guide-to-centralized-crypto-exchanges/" rel="">exchange</a> outflow is hovering at 542,360 WLD — recording a net outflow of 87,980 coins in 24 hours. The on-chain movements indicate that some investors are accumulating Worldcoin despite the bearish expectations around the asset. 
Notably, the WLD Relative Strength Index (RSI) rose from 40 to 54 over the past 24 hours, per Santiment. The indicator shows the asset is slightly overheated and an RSI of lower than 50 could hint at a stable price hike. 
 Read more: <a href="https://crypto.news/top-cryptocurrencies-to-watch-this-week-btc-doge-wif/" rel=""> Top cryptocurrencies to watch this week: BTC, DOGE, WIF </a>

Worldcoin emerges as top gainer, trading volume skyrockets

crypto.news

Other articles published on May 6, 2024

New Global Currency Designed To Ditch US Dollar, Avert Sanctions Emerging As BRICS Leaders Prepar...

Expert Crypto Analyst Reveals Top Altcoins, Including Coin Name (Symbol), Poised for 10x-100x Ret...

Crypto Funding Surges to $3.67 Billion in 2024: What are Key Trends?

Polygon zkEVM Logs 11 Million Transactions, But There Is A Problem

Australian Court Resolves Blockchain Controversy: Implications for Crypto Coins and Tokens

Top Analyst Picks for 5-10X Gains This Week

Join our free newsletter for daily crypto updates!