Worldcoin (WLD) Surges 25% Following APMC Initiative Launch
Worldcoin's native cryptocurrency, WLD, has surged 25% in the last 24 hours, trading at $1.25. This rise follows the launch of an anonymized multi-party computation (APMC) initiative aimed at enhancing the project's quantum-secure infrastructure.
Key points include:
- The APMC initiative alleviates concerns over quantum computing threats to the blockchain.
- Long-term holders show increased confidence, leading to a preference for accumulation rather than selling.
- The mean coin average (MCA) indicates that long-term holders are expanding their positions.
- Daily trading volume reached $1 billion, reflecting bullish trader sentiment.
- Open interest in derivatives rose 20% to $447 million, with $112 million in new buyer positions.
- The long-to-short ratio increased to 1.05, signaling bullish momentum.
- Analyst Captain Faibik noted WLD is near a multi-year trendline breakout, potentially leading to a price target of $4.00 by December 2024.
- A bearish butterfly harmonic pattern is forming, which may indicate a bullish continuation if it enters the Potential Reversal Zone.
