Key Takeaways

Worldcoin whales make a strong comeback with a whale acquiring 9.32 million WLD worth $8.85 million. The altcoin’s on-chain activity recovers, signaling WLD is potentially undervalued.

Since hitting a local high of $1.1, Worldcoin [WLD] has struggled on its price charts, dropping to a low of $0.86. At the time of writing, Worldcoin was trading at $0.924, denoting a 2.4% decline over the past 24 hours. 

Interestingly, as Worldcoin retraced, investors, especially whales, returned to the market in the hope of accumulating the dip. 

Worldcoin whales make a comeback 

Since dropping and settling below $1, whales took the opportunity to dominate the spot market.

As such, Spot Average Order Size data from CryptoQuant showed that Big Whale Orders dominated throughout the past week. 

Typically, when the Spot Market Records whale orders, it suggests that big players are either accumulating or selling. 

Onchain Lens reported one such whale order. According to the on-chain tracker, a newly created wallet bought 9.32 million WLD, worth $8.85 million.

Often, a whale accumulation signals market conviction, which is a bullish signal. Equally, exchange activities also echoed this accumulation trend.