Alameda Research Keeps Dumping Worldcoin (WLD) Tokens, But the Market Stays Strong

Alameda Research has been causing waves with its routine offloading of Worldcoin (WLD) tokens. Even with such massive transfers, however, Worldcoin has proved it has a strong market resilience.

Worldcoin ($WLD) is being moved in large batches by an entity, and an analysis of on-chain data shows that Alameda Research is depositing the coins on the exchange Binance. According to reports, Alameda has transferred a total of 1.56 million WLD to Binance since August 9.

This offloading came in 10 batches, with an average size of 143,770 WLD, or about $265,000 worth of the token per week. The average price for these transactions was $1.605 per token.

At this rate, it would take Alameda over three years to completely liquidate all of these holdings — 23.44 million WLD worth roughly $43 million. Worldcoin’s ongoing distribution strategy has interesting implications for Worldcoin’s market dynamics and investor sentiment.

Worldcoin Shows Market Strength

Interestingly, despite its major holder clearing out their holdings to almost nothing, Worldcoin has shown great market strength. Within the last month, WLD price has seen an uptrend of over 30%.

In a crypto market that is otherwise fluctuating, the growth in Worldcoin marks an investor’s confidence in its intrinsic value and future potential. Worldcoin’s trading patterns have been analyzed technically, and we can say that it has a resilient bullish trend.

Looking at the WLD chart analysis, the price is steadily going up. It has been rebounding from lower support levels despite the potential market pressure Alameda is putting on its sales.

Despite moving through a weak price session, WLD’s price movements position the cryptocurrency for strong resistance in sell-offs, indicating demand shouldn’t falter.

On top of that, Worldcoin is far from the only investment by Alameda Research, as the $69M worth of 98.86 mBIT tokens reveals the token is connected to the BitDAO platform once again.

According to their investment agreement, BitDAO must lock these BIT tokens in a no-sale commitment until November. If Alameda decides to offload this major holding after the upcoming end of this moratorium, this could either cause the market to normalize or add additional volatility to the Eos block.