Alameda Research has been causing waves with its routine offloading of Worldcoin (WLD) tokens. Even with such massive transfers, however, Worldcoin has proved it has a strong market resilience. It showed notable 30% growth in value over the past month.
Worldcoin deposits are arriving in large batches. The crypto trading firm Alameda Research is depositing the coins on exchange Binance. According to reports, Alameda also transferred a total of 1.56 million WLD to Binance since August 9.
This offloading has come in 10 batches, with an average size of 143,770 WLD, or about $265,000 worth of the token per week. The average price for these transactions sat at $1.605 per token.
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As of now, the current rate of sales implies that Alameda will need over three years to completely liquidate all of these holdings – 23.44 million WLD worth roughly $43 million. Worldcoin’s ongoing distribution strategy has interesting implications for Worldcoin’s market dynamics and investor sentiment.
Worldcoin’s Market Resilience
Despite its major holder offloading to almost nothing, Worldcoin showed great market strength. Within the last month, WLD price has seen an uptrend of over 30%. In a crypto market that is otherwise fluctuating, the growth in Worldcoin marks an investor’s confidence in its intrinsic value and future potential.
Worldcoin’s trading patterns have been analyzed technically, and we can say that it has a resilient bullish trend. Looking at the WLD chart analysis, the price is steadily going up. It has been rebounding from lower support levels despite the potential market pressure Alameda is putting on its sales. D
espite moving through a weak price session, WLD’s price movements position the cryptocurrency for strong resistance in sell-offs, indicating demand shouldn’t falter. On top of that, Worldcoin is far from the only investment by Alameda Research, as the $69M worth of 98.86 mBIT tokens reveals the token is connected to the BitDAO platform once again.
According to their investment agreement, BitDAO must lock these BIT tokens in a no-sale commitment until November. If Alameda decides to offload this major holding after the upcoming end of this moratorium, this could either cause the market to normalize or add additional volatility to the Eos block.
Market Implications and Outlook
As cryptocurrency moves towards the mainstream and the market grows, the actions of big players like Alameda Research give keen insights into the market’s sentiment and what may change. Additionally, the forthcoming sales possibilities of BIT indicate that portfolio strategies may be adjusted due to broader market conditions or internal considerations of future market moves.
The sustained bullish trend of Worldcoin amidst a period of big selloffs indicates the overall too-high confidence in its long-term value proposition. Investors and market analysts will be looking out for the same. Therefore, Worldcoin is still a token to watch, given the upcoming bear volcano wave with some major tokens being positioned from sell commitments.
