Worldcoin (WLD) staged a remarkable rally this week, surging over 60% in the past seven days and briefly touching $0.55—its highest level since January. The token later settled around $0.48, with market cap exceeding $1.6 billion, making it the 51st largest cryptocurrency.
Derivatives data from CoinGlass showed a sharp rebound in trader interest. Daily futures volume topped $2.3 billion, while open interest jumped nearly 32% to $447 million. Rising volume and open interest signal fresh capital entering the market, not just existing liquidity reshuffling. Funding rates also turned positive, indicating that long traders are willing to pay premiums to maintain bullish positions.
Whale activity added further fuel. Transactions above $100,000 reached their highest level this year, according to on-chain analytics provider BSCN. This coincided with a pickup in network activity and active addresses, reversing months of weakness.
Analysts remain broadly optimistic. Crypto Tony sees a move to $0.63 if WLD holds the $0.45 support; Altcoin Sherpa targets $0.65 conditional on Bitcoin stability; and Crypto Catalysts envisions a climb to $2. Arthur Hayes, CIO of Maelstrom, set a long-term target of $10, calling WLD a “shitcoin” that will “go to moon” due to its AI narrative.
The SpaceX IPO buzz has also become part of a broader risk-on story, with investors treating WLD as a liquid crypto proxy for AI-linked themes. Maelstrom argued that capital chasing exposure to AI and digital identity will benefit Worldcoin. Additionally, a scheduled 43% reduction in daily token emissions on July 24 could ease supply pressure, while Eightco’s large holdings (283 million WLD) and cash position may support further accumulation.
Technical risks remain. The Relative Strength Index (RSI) has risen above 70, entering overbought territory and signaling a possible short-term correction. Moreover, privacy regulatory concerns and crowded leverage could unwind gains if momentum stalls at resistance near $0.50 and $0.65.
