Worldcoin team moves $144mln – But here’s why investors still keep buying!
Whales keep stacking WLD, but will $1.54 resistance hold?
Key Takeaways
Why did Worldcoin team move 110 million tokens?
The team bridged $111 million to World Chain, while $32.75 million went to Kraken, possibly for liquidity.
Are whales backing WLD despite its decline?
Yes. Top holders added 4.91 million WLD, while Exchange Outflows hit $4.78 million.
Worldcoin [WLD] has been stuck in a descending channel since hitting $2.2 two weeks ago, dropping to a low of $1.28. At press time, WLD traded at $1.33, down 11.32% over the past week.
This slump coincided with a major token transfer by the project’s team.
Team moves $144M worth of WLD
According to EmberCN, the Worldcoin Team transferred 110 million WLD tokens worth $144 million from the Ethereum Mainnet.
Out of the tokens transferred, the team bridged 85 million tokens, worth approximately $111 million, to the Worldcoin Chain. The remaining 25 million WLD, worth $32.75 million, were sent to Kraken.
These tokens have not yet been sold, suggesting the bridge likely supported liquidity or ecosystem activity. Even so, the Kraken transfer could pressure prices if offloaded into the market.
Whales keep buying the dip
Surprisingly, despite a sustained price decline, Worldcoin investors, especially Top Holders, have continued to accumulate the altcoin.
AMBCrypto’s analysis of Nansen determined that Worldcoin Top Holders recorded a positive Balance Change for six consecutive days.
At press time, Top holders Balance Change was 4.91 million, indicating increased accumulation from high-net-worth addresses. This reflected conviction among large investors who increased exposure during the dip.
Furthermore, exchange activities further echoed this accumulation trend.
Santiment data tracked net Exchange Outflows of $4.78 million in WLD, confirming that more tokens left exchanges than entered.
Negative Exchange Flow Balances typically align with accumulation phases.
Historically, higher buying activity has resulted in intense upward pressure, which could set Worldcoin on a path towards market recovery.
What comes next for WLD
While the Worldcoin team moved a large batch of tokens, the transfers have not weighed on WLD’s price so far.
AMBCrypto’s analysis showed these tokens were not sold, suggesting the bridge likely targeted liquidity or ecosystem activity.
By contrast, whales kept buying. Large holders added exposure during the dip, signaling demand that offset concerns about the transfers.
If accumulation continues, WLD could attempt a recovery, with $1.54 as the next resistance. A breakdown, however, risks a slide toward $1.24.
