- Worldcoin has reached a milestone of over one million monthly active users.
- The price of WLD has risen in recent weeks due to the market’s general rally.
Amid a steady decline in the value of its native token, Worldcoin [WLD] has announced that it currently has more than one million monthly active users, four million downloads and 22 million transactions, indicating that the project is still gaining momentum.
World App has reached over 4 million downloads in six months, making it one of the most popular hot wallets in the world. https://t.co/GTq5RmGUPL
— Wereldcoin (@worldcoin) November 1, 2023
Realistic or not, here is WLD’s market cap in ETH terms
So does the decentralized identity project claimed that growth in app downloads since launch has earned it the position of the “6th most popular hot wallet in the world,” according to a report published by Coin gecko.
WLD is “safe” in the hands of the bulls for now
The price of WLD has been on an upward trend since October 19 due to the overall market growth. Exchanging hands at a three-month high of $1.88 at the time of writing, the token’s value has increased by almost 30% since then.
The increase in demand for WLD since the start of the uptrend put the bulls in control of the daily market. According to measurements from the Directional Movement Index (DMI) indicator, the token’s positive directional index (green) rested above the negative directional index (red).
When these indexes are positioned this way, it suggests that the upward movement of prices in the market is stronger than the downward movement. It is taken as a bullish signal as it suggests that the uptrend is likely to continue
Similarly, WLD’s Relative Strength Index (RSI) and Money Flow Index (MFI) were noted above their neutral lines at the time of writing. This suggested that token accumulation exceeded distribution. The token’s RSI was 59, while its MFI was 74.31.
Additionally, WLD’s Chaikin Money Flow (CMF) was above the zero line at the time of writing. A CMF value above zero is a sign of strength in the market, as it indicates an influx of liquidity into the asset’s spot market, which could drive up its value.
Source: WLD/USDT, TradingView
How much are 1,10,100 WLDs worth today?
WLD on the futures market
WLD funding rates have been consistently positive since October 24. This marked the first time that the altcoin will record stable positive funding rates for a ten-day period since August. This suggested that the price rally has led many traders to open long positions.
Source: Coinglass
However, the drop in open interest over the same period indicated that even though long traders are paying short traders to keep their positions open, less money is flowing into the market.