Important points
What is causing WorldCoin’s recent price spike and breakout attempt?
Rising on-chain activity, record user growth, and aggressive accumulation in spot and futures markets are fueling the rally.
Could the upward trend in World Coin continue in the short term?
Yes, if demand and user growth continues, WLD could break above $1 and target resistance around $1.2.
world coin [WLD] is attempting a breakout from a month-long downward channel. In fact, WLD managed to hold the support at $0.65 and rose 16.7% to $0.87 before falling back to $0.82 at the time of writing.
During the same period, altcoin trading volume increased by 136% to $338 million. This reflects the growth in on-chain activity and stable capital flows.
But what lies behind these gains?
WorldCoin on-chain activity reaches historic highs
Since its inception, Worldcoin has steadily expanded in terms of network usage, adoption, and on-chain activity. We recently reached a major milestone, reaching an all-time high of 1 million active addresses.
According to Token Terminal, this represents a 170% increase in active addresses over the past 12 months.
Source: Token Terminal
As a result, the network grew by more than 500,000 users from May to November, reflecting sustained network demand.
On top of that, the network’s daily active user count has remained steady at over 60,000, between 60,000 and 90,000. At the time of writing, there were 64,000 daily users, an increase of 44.1% over the past three months, according to Artemis data.
Source: Artemis
Typically, when addresses and daily users increase in parallel, it reflects stronger on-chain demand and increased actual engagement.
Such a setup is often perceived as bullish as it signals increased network adoption and tends to support higher prices.
Actual demand spreads throughout the market
Importantly, most of these participants have become overly bullish in both spot and futures markets as network usage increases.
On the spot side, buyers returned to the market to accumulate after the network crossed the 1 million mark.
According to CoinGlass, World Coin spot net flow has fallen into negative territory. As of this writing, altcoin netflow has fallen to -$2.18 million from $6 million the previous day.
Source: Coin Glass
Negative net flows usually indicate increased outflows and are a clear sign of active spot accumulation.
Whales lead futures markets
When it comes to futures, whales have sustained market dominance over the past week.
In fact, CryptoQuant’s average futures order size data shows that there were 7 consecutive days of Big Whale orders.
Typically, when a market records a large number of whale orders, it indicates increased whale participation on either the buyer or seller side.
Source: CryptoQuant
Interestingly, Hyperliquid’s Perpetuals market has been primarily dominated by buyers over the past week. According to Nansen data, HyperLiquid investors have more buy contracts than sell contracts.
For example, in the past 24 hours, WorldCoin recorded 7.77 million buy contracts compared to 6.4 million sell contracts at the time of writing.
Source: Nansen
This suggests that most of these whales have acquired WLD, occupied strategic positions, and are waiting for their next move.
Is this the start of a sustained uptrend?
According to AMBCrypto, World Coin has risen as network adoption expands on the back of real demand in the spot and futures markets.
As a result, the altcoin’s sequential pattern strength has surged into the positive zone, rising to 2.3 at the time of writing, reflecting the strengthening of the demand side.
Source: TradingView
Positive changes in this indicator reflect changes in market dynamics where buyers are taking control. Under these circumstances, WLD is well-positioned to earn further profits.
If demand continues to increase along with increased user activity, WLD could break through the $1 resistance level and aim for a parabolic SAR level near $1.2.
However, if demand weakens, the price could return to the $0.68 support zone.