- WLD surpassed all other tokens in the top 100.
- Increased volume and network evolution indicated a possible increase to $8.
The world currency price [WLD] rose 20.61% in the last 24 hours, according to data from CoinMarketCap. Price increase could be related to Bitcoins [BTC] increase to $64,000.
Previously, Bitcoin had plummeted to $58,000. By doing this, the coin dragged other altcoins Down!, including WLD. However, there was more to the Worldcoin boom beyond the broader market recovery.
Trading Volume Supports Price Action
According to AMBCrypto analysis, the volume around the token increased by 111% during the said period in which the price increased. Volume is a signal of interest.
Hence, the massive increase in the metric implied that the broader market was involved in trading the token.
As the price also increased, it meant that there were more purchases than sales. At press time, the price of WLD was $6.37. Following this trend, the increased volume could support a further rally for Worldcoin.
If this is the case, the token value could revisit the $7 region. However, if the volume decreases, the uptrend could weaken and WLD could slowly retrace from the highs.
However, the growing interest in the token did not come without external influences, as AMBCrypto was able to identify.
A few weeks ago, the Worldcoin team revealed that they would launch a layer 2 on Ethereum [ETH].
On top of that, another development explained that OpenAI, also led by Worldcoin founder Sam Altman, was in talks for a partnership.
Everything works together for a sustained rebound
With these updates, the buzz around AI-themed tokens increased, eventually leading to a price increase. Interestingly, it seemed like the project was already making efforts to release layer 2 later this summer.
Evidence of this was development activity, which rose to 0.54 before a slight decline to 0.50. This metric tracks the unique accounts that contribute to a project’s public GitHub repository.
Therefore, the increase suggested that Worldcoin could soon start offering new features on its network. In terms of active addresses, on-chain data. submitted that the number increased to 259,000.
This increase implies that active interaction with WLD has improved compared to recent lows. However, the metric was nowhere near the figure from May 3, when the metric was over 600,000.
If activity on the network maintains the increase, then the price of the Worldcoin token could continue to rise. Putting it into perspective, the cryptocurrency’s short-term target could be $7.25.
Realistic or not, here is WLD Market Cap in terms of BTC
However, traders should look at Bitcoin before betting on this prediction. If the BTC price drops, WLD could follow as well.
But a rise in the direction of $68,000 for Bitcoin could validate Worldcoin’s potential rise towards $8.
Next: Litecoin’s 18% drop attracts whales: better things coming?
This is an automatic translation of our English version.
