Following post the Federal Reserve’s interest rate announcements, bitcoin, the major cryptocurrency showed a rise which helped in pumping up the Altcoin segment. In the morning large withdrawals from the exchange WLD were recorded. Within a period of four hours, market makers took out about US$7.61 million worth of WLD from Spot On Chain (an onchain data provider).
Worldcoin is withdrawn from exchanges by Market Makers
Data from Spot On Chain shows that market makers have withdrawn a lot of WLD off Cryptocurrency Exchanges. There has been an aggregate movement away from exchanges on a total amount of 3.02 million WLD, with a value of $7.61 million in the past four hours.
Significant Withdrawals by Market Makers
A market player called the Amber Group forked over 2.02 million WLDs amounting to USD$5mn for four minutes earlier today on the OKX exchanges. Another wallet beginning with 0xbd8 … assumed to be a separate market maker, removed one million WLD worth USD 2.52 million from Binance during that period.
WLD has negative flows and is under observation by spot on chain
Additionally, it has observed a spike in negative flows for WLD in its Centralized Cryptocurrency Exchanges Net Flow Volume measure. Such trend shows a high rate of WLD sellouts from cryptocurrency exchange platforms by big players (whales).
Surge in Price and Transaction volume of Worldcoin’s WLD
Over the last day, Worldcoin’s WLD has appreciated by 9.54% to stand at about $2.57. Market makers, in particular, made purchases that resulted in a specific increase in the price of the altcoin. Thus, WLD has enjoyed gains of 4.72% for the past week, and a 14.01% spike in its value for the past month.
WLD’s transaction value has also increased as a result of market makers’ and whales’ activity. Today’s spiking altcoin posted a surge of 39.76% in volume over the past day at $154.11 million.