An address linked to the Worldcoin project team deposited a cumulative 10.5 million WLD tokens, valued at $4.857 million, into the OKX exchange. The transferred tokens originated from project team holdings moved three years ago.
This deposit follows another team-linked transfer of WLD tokens worth $1.6 million to exchanges just three days earlier. Large token transfers from project teams to exchanges are typically viewed as potential bearish signals, as they increase the supply available for sale on the market.
Market Pressure and Price Action
WLD has experienced significant downside pressure, falling to a low of $0.45. The token faced rejection at the $0.59 level and has closed at progressively lower levels for five consecutive trading days.
The Relative Strength Index (RSI) currently stands at 43, indicating prevailing bearish momentum and suggesting the downtrend may continue. Worldcoin is currently testing the $0.45 support level.
Capital Flows and Market Interest
Despite the price decline and team deposits, market data shows mixed signals. Over the past 12 hours, $63 million flowed into opening new Futures positions compared with $60 million in outflows, resulting in a Futures Netflow of $3.22 million.
On the Spot market, exchange outflows increased significantly on October 24th as prices continued to decline, with Spot Netflow at -$5.2 million. Higher exchange withdrawals may indicate accumulation or an intention to hold WLD rather than immediate selling.
