24/7 Cryptocurrency News

Worldcoin (WLD) Price Tanks 10% Amid Strong Whale Deposits to Binance

The Worldcoin price comes under pressure as whale deposits $3.3 million worth of WLD to Binance. Market analysts weigh whether WLD price can surge back in coming days.
Published by
Worldcoin (WLD) Price Tanks 10% Amid Strong Whale Deposits to Binance

Highlights

  • Worldcoin whale deposited $3.3 million worth of WLD to Binance creating selling pressure.
  • Market analysts have turned skeptical of holding WLD as the project activity drops.
  • Despite challenges, Worldcoin continues expanding ID verification services globally.

WLD, the native cryptocurrency of Sam Altman’s iris-scanning project Worldcoin, has tanked by 10% in the last 24 hours slipping all the way to $5.24. Also, the daily trading volume for WLD has surged by 80% to $644 million. The Worldcoin (WLD) price has been under selling pressure with a 14% drop over the past week.

Worldcoin Whale Deposits

On-chain data shows that the Worldcoin (WLD) whales have been moving their coins to the exchanges with the possible intent of selling and are not willing to hold longer.

According to insights from on-chain data provider LookonChain, a significant move was observed involving the cryptocurrency $WLD, totaling 624,479 tokens valued at $3.33 million. Reportedly, a whale who had amassed this amount over the past month opted to deposit it into Binance after realizing an approximate loss of $50,000.

The whale had acquired the 624,479 $WLD tokens, valued at $3.38 million, from Binance over the course of the past month, with an average acquisition price of $5.42.

As we know, Worldcoin has been unlocking new coins in the market to increase distribution and usage. Of course, this increased WLD supply creates selling pressure on the cryptocurrency. On the other hand, some market players are warning that Worldcoin has been moving away from its goal of universal basic income.

Popular Bybit trader DeFi^2 stated that “Most retail buyers are likely not even aware that Sam Altman currently has no active involvement in Worldcoin and that it’s a completely disjoint entity with no relation to OpenAI at all”. Recent rumors suggested that Worldcoin is reportedly working on an OpenAI partnership. Another popular crypto analyst and economist Alex Kruger, said that it’s no more worth holding Worldcoin (WLD).

WLD Expansion Continues, What’s Ahead?

Last week, Worldcoin announced that it continues to expand its ID verification services to Peru. Verification through World ID orbs is now accessible in Lima, the capital of Peru. Residents aged 18 and above can now verify their humanity online.

Some market analysts believe that the negative sentiment around Worldcoin might not last longer. Renowned crypto analyst World Of Charts took to Twitter to underscore a recent development: WLD broke out of a bullish pattern several days ago. The prevailing price trend could be attributed to WLD’s retesting of its support. Should the token effectively test this support level, there’s potential for its value to surge to $18 in the ensuing weeks.

Advertisement

Share
Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

SEC Chair Paul Atkins Says Crypto Is Top Priority At SEC CFTC Roundtable

The U.S. Securities and Exchange Commission has placed cryptocurrency at the top of its current…

September 30, 2025
  • 24/7 Cryptocurrency News

Legal Expert Breaks Down XRP’s Appeal as Ripple SWIFT Debate Heats Up

The running rivalry between Ripple and SWIFT resurfaced after a community callout to Ripple’s CEO.…

September 30, 2025
  • 24/7 Cryptocurrency News

Crypto Stakeholders Push Back as Banks Seek Yield Ban Provision in CLARITY Act

A dispute between crypto stakeholders and traditional banks has reemerged as lawmakers in the Senate…

September 30, 2025
  • 24/7 Cryptocurrency News

Crypto ETFs Approval Faces Uncertainty as Government Shutdown Looms, Bloomberg Analyst Says

Bloomberg analyst James Seyffart has shared his thoughts on a potential approval of the pending…

September 29, 2025
  • 24/7 Cryptocurrency News

Fed’s Hammack Backs Restrictive Policy Over Rate Cuts Amid Inflation Concerns

Cleveland Federal Reserve President Beth Hammack has advocated for a restrictive monetary policy amid growing…

September 29, 2025
  • 24/7 Cryptocurrency News

Fed Governor Chris Waller Champions Stablecoins as a Tool for Cheaper Global Payments

Federal Reserve Governor Chris Waller has said that stablecoins and public blockchains could cut cross-border…

September 29, 2025