Spike in Worldcoin whale activity; Possible price surge incoming?
One of the biggest gainers in the cryptocurrency market in the previous days is Worldcoin (WLD), which saw its price surge by almost 13%, thanks to the whale holders of this digital asset.
A significant outflow of 3.6 million WLD aligns with a surge in whale transactions, suggesting that Worldcoin whales might be preparing for a substantial price movement, as per a post from crypto analyst Ali Martinez on December 14.
Worldcoin on-chain activity chart. Source: Ali Martinez
In this group of whales, cryptocurrency firm Amber Group stands out. As blockchain analyst The Data Nerd reported on December 14, the company withdrew 2.02 million WLD from the OKX exchange, representing over 50% of the notable whale transactions that experienced a significant surge today.
Their current balance is 2.64M ($6.88M).
Are they bullish for the upcoming Worldcoin ID 2.0 update? pic.twitter.com/oYFygZIzzX — The Data Nerd (@OnchainDataNerd) December 14, 2023
World ID 2.0 upgrade
The Worldcoin team has unveiled a significant enhancement with the introduction of Worldcoin ID 2.0 on December 11. This upgrade includes expanding their digital identity system, incorporating biometric authentication through facial recognition, and extending support for various widely used online services.
World ID, a widely embraced global service, has broadened its integration to encompass not only popular online platforms but also gaming, social media, and online commerce platforms such as Minecraft, Telegram, Shopify, and Mercado Libre.
Worldcoin price analysis
At the time of press, WLD was trading at $2.54, which represents an increase in the price of 3.67% in the last 24 hours, adding to the gains made over the past week that amounted to 6.24% and a monthly uptick of 15.40% as per data obtained on December 14.
Worldcoin 24-hour price chart. Source: CoinMarketCap
The strong showing in the previous period and backing by its whale carriers, some of which possess a large amount of its supply, might mean that a potential further price increase is on the horizon and that the current levels represent a potentially profitable point for entry.
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