Key Takeaways
World Liberty Financial [WLFI] gained by 11.64% to hit $0.2339 as Spot selling clashed with bullish Derivatives inflows and a governance-backed burn proposal.
World Liberty Financial [WLFI], over the last 24 hours, emerged as the market’s second-best performer after its price appreciated by double-digits to hit $0.2339.
Spot investors seemed to be moving against this bullish trend, selling into the market, while Derivatives investors continued to fuel the token with fresh liquidity amid ongoing governance proposals.
Here’s what AMBCrypto found could determine the token’s next direction.
Sell-offs or profit-taking? Which path are investors choosing?
Spot traders have acted as active sellers, according to CoinGlass data.
At the time of writing, this cohort registered its second daily inflows of WLFI into exchanges since the token’s public launch on centralized platforms.
During the same time, $5.1 million worth of WLFI were sold on the market – A sharp reversal from last week’s accumulation when $24 million worth of the token was purchased.
Source: Coinglass
There are two possible interpretations of this activity. Either the sell-off could reflect investors taking partial profits, or it could signal mounting selling pressure.
If it proves to be the latter, a full bearish shift in Spot trading would be confirmed by higher Exchange Inflows in the next session.
Inflows remain bullish
AMBCrypto further observed that the sell pressure in the Spot market did not spill into Derivatives, where inflows did increase over the last 24 hours.
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Author: Olayiwola Dolapo
