Worldcoin [WLD] has been one of the standout cryptocurrencies in the market this past week, recording strong price increases.
Data from CoinMarketCap shows that at press time, WLD is up around 10% in the past 24 hours alone.
This sharp increase reflects growing interest in WLD, as investors take notice of the recent market rally.
The number of active WLD addresses is increasing
Worldcoin trading activity is also on the rise, helping to push altcoin prices higher.
Active addresses interacting with this Coin have increased by 8% in the last 24 hours, indicating increased market participation in the cryptocurrency market.
This growth in active addresses usually indicates increased buying and selling activities, adding liquidity to the Coin.
Source: IntoTheBlock
Profitability remains low
Despite the significant increase in WLD price, only 11% of Holders are in profit at the moment.
This reflects broader negative sentiment, suggesting that the majority of investors have not yet reached break-even on their initial investments.
The contrast between this price increase and the level of profitability is a sign of uncertainty in the market.
Source: IntoTheBlock
Can WLD reach $2?
The main question for many traders now is whether WLD can sustain this momentum and break above $2.
While the increase in active addresses is a positive sign, most on-chain metrics suggest a more cautious outlook due to low profitability.
This mildly negative sentiment will likely limit the coin's upside potential, at least in the near term.
WLD’s recent 10% price surge has certainly caught the attention of many in the crypto space, although on-chain metrics tell a different story.
With only 11% of Holders currently in profit, and negative sentiment, the road to $2 may not be easy.
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