- Worldcoin has matched Bitcoin’s performance recently.
- The dwindling on-chain activity and distribution could be a warning for investors.
Worldcoin [WLD] saw a 3.5% increase in Open Interest in the futures market, but the price was down by 8.2% in the past week. On-chain metrics showed that activity has slowed down in the past two weeks.
Worldcoin in a distribution phase
Source: Santiment
From the 9th of September to the 15th of October, Worldcoin saw a steady uptrend in network growth. This metric measures the number of new addresses being created on the network daily, showing increased adoption and demand.
Similarly, the daily active addresses metric was also steadily rising during that period. Things changed around in the second half of October. Both activity metrics fell suddenly and the token price began to stumble.
The transaction volume also decreased but was still above the levels it was in mid-September.
