The native coin of Worldcoin, $WLD, has witnessed a remarkable surge of more than 170% in the last week, sparking the interest of all investors and cryptocurrency lovers around the globe. $WLD price rocketed up to $8 to record a 163.97% increase on the weekly charts. This impressive growth has fueled curiosity and attracted the attention of industry players who carefully track the cryptospace for what the future holds.

Worldcoin’s price rally coincides with a significant landmark for the Worldcoin group, marking more than a million subscribers to the World App, suggesting a rising uptake that might be boosting the token’s impressive rally.

A Dual Force of Milestone Achievements and Tokenomics

The World App, which is Worldcoin’s own wallet, already serves over 1 million users daily, demonstrating the increasing interest in the project. This point marked by February 17, 2024, has not only gladdened the community members but also played a vital part in pushing the $WLD prices upwards.

The tokenomics of Worldcoin indicate a total supply of 10 billion WLD coins with a current value of $74.71billion. However, in a closer look, it is shown that there is a circulating supply of $WLD which stands at 130.76 million which translates to about 1.31% of the total supply, indicating scarcity that may be contributing to the price spike. The second stage of distribution is 75% to the Worldcoin Community, which highlights the project’s dedication to the users base.

Investor Confidence and Strategic Moves

The investor community has shown strong confidence in Worldcoin as seen from the project’s successful fundraising activities which attracted $240 million via three rounds. Among other investors, Blockchain Capital, Andreessen Horowitz and Coinbase Ventures have injected this project with a lot of credibility and financial support. 

What is more, 2.8 million $WLD are removed from major exchanges by major players which demonstrates a trader’s insight and may lead to the current tightening of the supply and the price going up.

Whale Activities and Alameda’s Holdings

Recent whale activities were also among the main factors that triggered a rally. Essentially, a huge amount of 2.09 WLD purchased by a single entity from a CEX led to a 25% price jump on 17th February.

In addition, the 25 million WLD held by Alameda Research, notwithstanding the bankruptcy of the firm, has led to talks and interest in the token’s future moves. This represents the strategic moves in play within the Worldcoin ecosystem that tend to affect the future value of the token.

The Underlying Momentum of AI and Market Sentiments

The motivation surrounding Worldcoin is not limited to its performance in the markets. The project’s involvement with AI, particularly through Sam Altman’s presence and the hype around Sora, a text-to-video platform, has created a layer of optimism.

This AI-driven high sentiment, coupled with bullish market expectations ahead of major crypto events like the Bitcoin halving, has created a good base for the$WLD rise. The derivatives data for the WLD token, displaying an increase in open interest, depicts the optimistic outlook of investors as well.

The recent 2.8 million $WLD withdrawal from the big exchanges by the major players is fueling the speculative mood about the coin. This behavior can be interpreted as a strategic move by investors to benefit from the hype, which in turn leads to more volatile market expectations. Furthermore, SmartMoney’s proficient trading moves, which bring about huge profits, demonstrate the effective investment strategies being utilized within the WorldCoin system.