Worldcoin Surges 11%, Traders Eyeing $0.65 Target
Worldcoin's native token surged over 11% in 24 hours, breaking through a key psychological barrier and reaching $0.51. This move stands out against a relatively subdued broader cryptocurrency market.
The rally is attributed to a confluence of factors, including renewed enthusiasm for AI-adjacent token narratives, a sustained uptick in derivatives activity, and positioning data suggesting larger market participants have been quietly building exposure.
Derivatives volume reached $665 million, up 15% from the prior session, with open interest in WLD futures jumping 7.62% to just above $101 million notional. Top trader long/short ratios on Binance show a striking 69.9% long versus 30.1% short.
The technical backdrop also reinforces this interpretation, with WLD trading above its 7-, 20-, 50-, and 200-day simple moving averages, a full bullish stack that took months to construct.