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Following the announcement of the Federal Reserve’s interest rate decision, the largest cryptocurrency Bitcoin showed an upward trend, energizing the altcoin market. In the first hours of the day, it was observed that market makers withdrew millions of Worldcoin (WLD) from cryptocurrency exchanges. According to a report by the on-chain data platform Spot On Chain, market makers withdrew $7.61 million worth of WLD in the last 4 hours.
According to the data provided by the on-chain data platform Spot On Chain, market makers are pulling WLD from cryptocurrency exchanges. Accordingly, 3.02 million WLD, valued at $7.61 million, were withdrawn from exchanges in the last 4 hours.
Market maker Amber Group withdrew 2.02 million WLD, worth $5.09 million, from the cryptocurrency exchange OKX in the last 4 hours. Another wallet address, starting with 0xbd8… and thought to be another market maker, also withdrew 1 million WLD, valued at $2.52 million, from Binance in the last 4 hours.
Spot On Chain also reported an increase in negative flows for WLD in its Centralized Cryptocurrency Exchanges Net Flow Volume indicator. This indicates that whales are heavily withdrawing WLD from cryptocurrency exchanges.
The current price of Worldcoin’s WLD has seen an increase of 9.54% in the last 24 hours, trading at $2.57. Data shows that the price of the altcoin particularly soared right after purchases made by market makers. With this recent surge, WLD’s gains over the last 7 days reached 4.72%, and over the last 30 days, the gains climbed to 14.01%.
The transaction volume of WLD also increased due to purchases made by market makers and whales. The transaction volume of the soaring altcoin rose by 39.76% in the last 24 hours, reaching $154.11 million.
