- WLD is up 10% in the last 24 hours despite mixed on-chain indicators.
- Sentiment remained bearish as only 11% of holders took profit at the current price.
Worldcoin (WLD) performed well in the cryptocurrency market last week, posting significant gains.
Source of data CoinMarketCap At the time of writing, WLD is up about 10% in the last 24 hours alone.
This rapid increase reflects growing interest in WLD as market participants take note of recent market momentum.
WLD active addresses are increasing.
Trading activity on Worldcoin also increased, further fueling altcoin price volatility.
Active addresses interacting with the coin have increased by 8% in the last 24 hours, indicating increased market participation in the cryptocurrency.
This increase in active addresses usually means increased buying and selling activity, adding more liquidity to the coin.
Source: IntoTheBlock
Profitability remains low
Although WLD’s price has surged significantly, only 11% of holders have made a profit at press time.
This signals a broader decline and suggests that the majority of investors have not yet reached the break-even point on their initial investments.
This contrast between price increases and profitability levels indicates uncertainty in the market.
Source: IntoTheBlock
Can WLD reach $2?
The main question among many traders right now is whether WLD can sustain this rally and break the $2 level.
While the surge in active addresses was a positive sign, most on-chain indicators suggest more conservative expectations due to low profitability.
This slightly bearish sentiment will likely limit the coin’s upside potential, at least for the foreseeable future.
Read Worldcoin (WLD) price prediction for 2024-2025
The recent 10% surge in WLD has undoubtedly caught the attention of many in the cryptocurrency space, even though on-chain metrics are telling a different story.
Only 11% of current holders are making a profit and with the general bearish sentiment, pushing it up to $2 may not be easy.