- WLD was up 10% in the last 24 hours despite mixed on-chain metrics.
- Sentiment remained bearish, as only 11% of holders were in profit at the current price.
Worldcoin [WLD] has been one of the outstanding performers in the crypto market over the past week, boasting significant bullish gains.
Data from CoinMarketCap indicated that at the time of writing, WLD had jumped about 10% in the past 24 hours alone.
This sharp increase mirrored a growing interest in WLD, as market participants took note of the recent market momentum.
WLD active addresses are on the rise
Worldcoin’s trading activity was also on the rise, further driving its altcoin price movement.
Active addresses interacting with the coin were up 8% in the last 24 hours, signaling increased market participation in the cryptocurrency.
This rise in active addresses usually pointed to increased buying and selling activities, adding more liquidity to the coin.
Source: IntoTheBlock
Profitability remains low
While WLD’s price has surged significantly, only 11% of its holders were in profit at press time.
This pointed to broader bearish sentiment, indicating that the majority of investors have not yet reached break-even on their initial investments.
The contrast between this price increase and the levels of profitability was an indication of uncertainty in the market.
Source: IntoTheBlock
Can WLD hit $2?
The main question among many traders now would be whether WLD can sustain this rally and break the $2 level.
Although the spike in active addresses was a positive sign, most on-chain metrics would suggest a more conservative expectation due to the low profitability rate.
This slight bearish sentiment will probably limit the upside potential of the coin, at least in the near future.
Read Worldcoin’s [WLD] Price Prediction 2024–2025
The recent WLD’s 10% surge has undoubtedly gained the attention of many in the crypto space, despite its on-chain metrics telling a different story.
With only 11% of holders currently in profit, along with general bearish sentiment, this hike to $2 may not be straightforward.