Worldcoin [WLD] has emerged as a standout performer in the cryptocurrency market in recent days, registering remarkable bullish growth.
According to data from CoinMarketCap, WLD has surged by approximately 10% in the last 24 hours, underlining a significant uptrend.
This sharp rise reflects a growing enthusiasm for WLD as investors increasingly recognize the momentum in the market.
Increasing Number of Active Addresses for WLD
Trading activity for Worldcoin is on an upward trajectory, contributing further to its movement in the altcoin sphere.
The number of active addresses engaging with the coin has seen an 8% surge in the past 24 hours, indicating heightened market engagement with the cryptocurrency.
This surge in active addresses typically signifies increased trading and investment actions, enhancing the coin’s liquidity.
Source: IntoTheBlock
Limited Profitability Despite Price Surge
While the price of WLD has experienced a substantial surge, only 11% of its holders were in profit at the time of reporting.
This indicates a prevailing bearish sentiment, with most investors yet to achieve a break-even point on their initial investments.
The disparity between the price surge and the profit levels points towards market uncertainty.
Could WLD Reach the $2 Mark?
One of the primary queries on the minds of traders is whether WLD can uphold this upward momentum and surpass the $2 mark.
Despite the encouraging increase in active addresses, many on-chain metrics suggest a more cautious outlook due to the low profitability rates.
This mild bearish sentiment is likely to restrain the coin’s upward potential, at least in the immediate future.
The recent robust 10% surge in WLD has undoubtedly captured the attention of the cryptocurrency community, although on-chain metrics paint a more sobering picture.
With just 11% of holders currently profiting and a prevailing bearish sentiment, reaching the $2 milestone may present challenges.