Worldcoin experienced a significant whale selloff on Sept. 25, yet the asset continued its upward trajectory.

Worldcoin Price Surge Despite Selloff

Worldcoin (WLD) has seen a remarkable increase of 17.3% in the past 24 hours, trading at $2.12 at the time of writing. The asset’s market capitalization has once again surpassed the $1 billion mark, positioning it as the 69th-largest digital currency.

WLD’s daily trading volume surged by 85%, reaching $430 million. Data from IntoTheBlock indicates that large Worldcoin holders recorded outflows of 6.23 million WLD, valued at $13.15 million, on Sept. 25. This data suggests that the number of whales selling the asset outnumbered those accumulating it.

Market Reactions to Whale Activity

Typically, whale selloffs can indicate periods of panic or profit-taking, which often result in price declines. However, WLD has managed to record a 32% price increase over the past week, showing resilience despite the significant whale selloff.

According to a report from August 21, Worldcoin had experienced a 40% plunge below the $1.4 mark, leaving over 92% of its holders at a loss. As of the latest data from IntoTheBlock, the number of WLD holders suffering losses has decreased to 68%.

Factors Driving WLD Price

One of the bullish factors contributing to the recent price surge was Worldcoin’s announcement of launching World ID in three additional countries: Guatemala, Malaysia, and Poland.

It’s important to note that price increases following major announcements are often short-lived. If the whale selloff continues, a price correction for WLD would be expected.

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