Worldcoin Price Gains Ahead of $58M Unlock Event; Is $5 a Potential Peak?
Highlights
- Worldcoin price surged 21%, indicating strong market optimism and growth.
- Major unlocks planned, injecting $58.07M into Worldcoin from Sept 30-Oct 6.
- Trading volume up 8.73%, with an increase in open interest by 1.68%.
Worldcoin (WLD) price has exhibited a strong upward trend recently. The momentum builds as the broader market experiences a surge. As token release events approach, Worldcoin’s value is poised for further increases. Notably, the cryptocurrency has appreciated by 20% over the last week.
Worldcoin Price Soars as Market Braces for Unlocks
From September 30 to October 6, 2024, the cryptocurrency market expects significant movements. A substantial $568 million in token unlocks across various projects is anticipated, with Worldcoin (WLD) highlighting the list. An estimated $58.07 million worth of WLD tokens will be released.
This considerable addition to the market supply might alter trading dynamics significantly in the forthcoming weeks. Notably, the last similar event occurred on July 24. Ahead of these token unlocks, Worldcoin’s value is projected to reach approximately $5
WLD Price Eyes 180% Surge Amid Positive Momentum
Over the past 24 hours, the Worldcoin price has seen a notable increase of 3.34%, indicating positive momentum in the market. At the time of writing, the WLD price stands at $1.74. Most of the crypto market today is trading in a sideways trend, indicating volatility in the market.
Within the same period, the price experienced a low of $1.66 and a high of $1.80, demonstrating significant fluctuations. The price movement chart shows a gradual climb throughout the day, with some minor dips, but overall, the token has shown resilience and a steady upward trend.
The Moving Average Convergence Divergence (MACD) indicator currently signals a potential positive shift. The MACD line (blue) recently moved above the signal line (orange), indicating a bullish crossover that could suggest an upward upward movement if the trend continues.
According to Coinglass, the latest data analysis on Worldcoin (WLD) derivatives has shown a notable increase in market activities. Trading volumes have surged by 8.73%, reaching $773.77 million.
Additionally, open interest has risen 1.68% to $163.49 million. This uptick in both volume and open interest could indicate growing investor interest and confidence in Worldcoin’s market dynamics.
Worldcoin price is currently experiencing an upward trend. If it remains above the crucial support level of $1.7, it may soon challenge the $2 resistance barrier. Maintaining this momentum could pave the way for the cryptocurrency to approach the next significant resistance level at $3.
Ahead of the upcoming token release, the potential for a peak at $5 exists. This positive trajectory positions WLD for potential growth in the near term.
Frequently Asked Questions (FAQs)
1. When is the next key event for Worldcoin?
2. What is the significance of the $58.07 million token unlock?
3. What is the significance of the $58.07 million token unlock?
- Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?
- White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC
- Ripple Explores New XRP Use Cases as Brad Garlinghouse Reaffirms Token’s ‘Central’ Role
- Kyrgyzstan Adds Binance Coin (BNB) to National Crypto Reserve, CZ Confirms
- Ripple-Backed Evernorth Grows XRP Treasury to $1B Ahead of Nasdaq Listing
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
