Worldcoin witnessed a strong whale selloff yesterday, Sept. 25, but the asset still continued its upward momentum.
Worldcoin (WLD) is up by 17.3% in the past 24 hours and is trading at $2.12 at the time of writing. The asset’s market cap surpassed the $1 billion market again, making it the 69th-largest digital currency.
WLD’s daily trading volume also recorded an 85% rally, reaching $430 million.
According to data provided by IntoTheBlock, large Worldcoin holders recorded 6.23 million WLD — worth $13.15 million — in outflows on Sept. 25. The indicator shows that the number of whales selling the asset was much greater than the ones accumulating.
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WLD price and large holders net flows – Sept. 26 | Source: IntoTheBlock
Whale selloffs usually hint at times of panic or profit-taking, both of which lead to price declines. At this point, WLD has recorded a 32% price surge over the past week, remaining unfazed by the large whale selloff.
Per a crypto.news report on Aug. 21, Worldcoin’s 40% plunge below the $1.4 mark put over 92% of its holders at a loss.
Data from ITB shows that the number of WLD holders suffering losses has declined to 68% at the reporting time.
One of the bullish drivers for the WLD price was the recent announcement from the company. Worldcoin revealed that it launched World ID in three more countries — Guatemala, Malaysia, and Poland.
It’s important to note that price hikes on the back of big announcements have shown to be short-lived. If the whale selloff continues, a price correction would be expected for the WLD price.
Read more: Whale unstaked $30m in SOL; will Solana crash again?
