Worldcoin (WLD) has seen an impressive rise in the cryptocurrency market over the past week, with its price increasing significantly. According to data from CoinMarketCap, the price of WLD has increased by as much as 10% in the past 24 hours.
This strong price increase reflects the growing interest in the coin as more market participants become aware of the momentum that Worldcoin is currently experiencing.
Active addresses increase
The continued increase in trading activity for Worldcoin has further boosted the altcoin's gains. The number of active addresses interacting with WLD has increased by 8% in the past 24 hours. This shows that more and more investors are participating in the trading of this crypto. An increase in active addresses usually means more buying and selling activities, thereby increasing the liquidity of the token.
Low profitability remains a problem
Despite the strong price gains, profitability for WLD holders remains low. At the time of writing, only 11% of investors are looking to take profits. This signals a generally bearish sentiment in the market, as most investors have yet to recoup their initial investments.
The gap between price growth and holder profitability indicates a level of uncertainty within the market. Despite the significant price gains, most investors have yet to benefit from the recent growth.
Will WLD hit $2?
A big question facing many traders is whether Worldcoin can sustain its uptrend and break above the $2 level. While the increase in active addresses is a positive sign, some on-chain data suggests that cautious expectations are more appropriate. In fact, the low profitability of current holders indicates mild bearish sentiment, which could limit the currency's upside potential in the short term.
Whether Worldcoin can successfully rise further is uncertain, but recent market developments will be closely watched by investors.
