Worldcoin (WLD) is experiencing significant market changes. After a sharp decline, WLD is aiming for recovery due to positive technical signals and continued user growth.

Bullish Sentiments Forming

WLD price hit a 12-month low of $1.34 before showing signs of recovery. A potential inverted double bottom pattern, coupled with increasing Relative Strength Index (RSI), has been observed. Additionally, WLD successfully broke out of a macro falling trend and retested the 50-day moving average.

Alameda Research's WLD Selling

On-chain data reveals that Alameda Research, affiliated with the FTX exchange, has been actively selling its WLD holdings. Over the past two months, they released 1.56 million WLD in 10 batches of about 143k coins. Currently, Alameda still holds over 23 million WLD, valued at over $43 million, which are expected to be sold soon.

Worldcoin Global Perspective

Despite challenges, the Worldcoin project continues to grow, boasting over 6.8 million registered users. With backing from OpenAI CEO Sam Altman, the project has significant potential for exponential growth. Furthermore, Worldcoin ORBs have been legally registered in several countries across Europe, Asia, and Africa.

Worldcoin is facing high market volatility, but current signals point to a potential price recovery. The increase in users and legal recognition in various countries enhance the project's credibility.