How Worldcoin is giving Optimism a run for its money

• There are more WLD holders in profit than those of OP.
• OP led as per trading volume while WLD had more whale concentration despite not being top of the pack.

Primarily, OP is the native token of the Optimism network. But that is not to say that there are no other cryptocurrencies housed by the OP mainnet. The OP mainnet is the main blockchain of the Optimism network and runs on a software called the OP Stack.

Besides OP, another token that has cemented its place as a top asset on the network is Worldcoin [WLD]. This assertion was also confirmed by a recent infographic

OP for the holders, WLD for the gains

According to IntoTheBlock, OP has the highest number of holders out of all the tokens operating in the Optimism ecosystem. It noted that there were 978,000 OP holders at the time it put out its post. 

Following OP closely was WLD, whose holder count was 788,000. Other tokens including Synthetix [SNX] and Velodrome [VELO] had fewer holders when compared to the top two.

Source: IntoTheBlock

At the same time, that might not be the case. This is because the Optimism mainnet was launched long before Worldcoin’s official journey in the market. Thus, there is no denying that WLD has a chance to catch up with OP in this regard.

However, there was another aspect where WLD outpaced OP. This was in terms of holders’ profitability.

AMBCrypto’s assessment of the 90-day performance of both tokens showed that OP’s value dropped by 0.96% while WLD gained 10.46% within the same period. This led IntoTheBlock to reveal that:

“Worldcoin takes the lead here, with 59.36% of holders in profit. Velodrome and Optimism holders have profitability of 40.82% and 39.26% respectively, an interesting area where holders may be evaluating the timing for realizing gains or reinvesting.”

Aura around OP hasn’t moved whales

When it comes to the trading volume, Optimism takes the lead. The trading volume refers to the total number of transactions exchanged between buyers and sellers during a specific period.

In the last 30 days, OP’s trading volume was $41.1 million. WLD, on the other hand, had a lesser volume than SNX, with $8.8 million for the former.

Source: IntoTheBlock

Therefore, it is not out of place to conclude that there was more investor enthusiasm around OP than WLD.

If this continues to be the situation, then OP may experience more buying pressure that could lead to higher prices. But that is not to say that WLD’s price action would stall.

Additionally, neither Optimism nor Worldcoin were the leaders of the pack regarding whale holdings.

Realistic or not, here’s WLD’s market cap in OP terms

Instead, Extras Finance [EXTRA] had the highest whale concentration with 96.96%. VELO was in second place while WLD outclassed OP with 88.49% to 68.58% respectively.

Source: IntoTheBlock

The whale concentration data means there was a better distribution among OP holders than WLD. However, traders may take it that large investors’ focus on WLD means it may have a superior price performance than OP.