Worldcoin Price Plunges 11%, Extends 30-Day Loss to 14%

Worldcoin's price has been on a downward trend over the past day, declining by 11% and extending its 30-day loss to 14%. According to CoinGlass, whale dominance surged as Worldcoin continued to struggle. The Whale Retail Delta showed that whale influence increased, with a reading of 0.222.

The Funding Rate turned significantly bearish at -0.0389%, indicating that investors are betting on further price declines. Additionally, the Open Interest fell by $28.57 million to $278.38 million, suggesting that derivatives exposure is declining.

Sellers dominated most Worldcoin perpetual trading volume across centralized and decentralized exchanges, with sell-side activity representing 53% of trading volume. This was evident on 16 out of 18 exchanges, accounting for nearly 89% of those venues.

The combination of bearish derivatives positioning and limited on-chain activity suggests weak demand for Worldcoin. As a result, the price could be vulnerable to further declines if sellers remain in control.