Following the Federal Reserve’s interest rate decision, the appreciation of Bitcoin stimulated the altcoin market. In the early hours of the day, it was observed that market makers withdrew millions of Worldcoin (WLD) from cryptocurrency exchanges.
According to the on-chain data platform named Spot On Chain, market makers withdrew WLD worth 7.61 million dollars from exchanges in the last 4 hours.
The market maker named Amber Group withdrew 2.02 million WLD worth 5.09 million dollars from the OKX exchange in the last 4 hours. Another wallet address, starting with 0xbd8 and thought to be another market maker, withdrew 1 million WLD worth 2.52 million dollars from Binance in the last 4 hours.
Spot On Chain reported an increase in negative flows on the Centralized Cryptocurrency Exchanges Net Flow Volume indicator for WLD. This indicates that whales are intensively withdrawing WLD from cryptocurrency exchanges.
The current price of Worldcoin’s WLD has risen by 9.54% in the last 24 hours to $2.57. It was particularly noted that the price of the altcoin rose following the purchases by market makers. It gained 4.72% in the last 7 days and 14.01% in the last 30 days.