Worldcoin’s recent rally saw a surge in on-chain activity, with whale transactions, lively addresses and up-to-date wallet creations skyrocketing as WLD briefly climbed above $0.408 to an 11-week high. The situation has since turned around, with live market data showing WLD has recovered to near $0.31 after a double-digit decline in 24 hours, making the rally look more like a FOMO-driven rally than a pure trend reversal.
The Santiment chart tracks WLD’s price action based on three network metrics: whale transactions, daily lively addresses, and network growth. According to According to the company, the number of whale transactions rose to 64 in 24 hours, the highest level for 2026. The number of lively addresses increased to 1,309, the second highest reading of the year, while network growth reached 379 up-to-date wallets in 24 hours, also the highest level for 2026.
Why did Worldcoin rise and fall?
This connection is noteworthy because the activity did not come from just one segment. Whale transactions indicate the movement of gigantic holders, lively addresses reflect broader usage or trading activity, and network growth reflects the emergence of up-to-date wallets in the ecosystem. When all three are rising along with the price, it usually means that gigantic investors and smaller participants are engaging in the asset at the same time.
Santiment cautioned, however, that the timing is speculative. “Worldcoin on-chain activity exploded as the price surged to an 11-week high above $0.408, indicating significant growth in both retail and whale participation,” the company wrote. “When whale activity, active addresses, and new wallet creations increase together, it usually signals that both large investors and smaller traders are getting more involved in the project at the same time. That said, all of these spikes appear to be related to some degree to FOMO and coincide with the huge increase in WLD prices that has just taken place.”
Reversing this situation gives this warning more weight. After breaking above $0.408, WLD fell back towards the -$0.30 range and live data shows the token is trading near $0.308 and is down about 25% from its peak.
The likely catalyst was the integration of Oku Trade into the World App, the launch of the DeFi aggregator on the World App, along with weekly swap contests and WLD rewards incentives for users. This has implications for on-chain data interpretation: a up-to-date trading feature and rewards program may simultaneously augment swap volume, portfolio activity and speculative attention, but may also drive forward demand that fades once the initial incentive cycle cools.
Worldcoin’s broader narrative remains tied to proof of personhood. The project, co-founded by OpenAI CEO Sam Altman, aims to build a global digital identity system based on biometric verification using Orb devices. This story has gained traction as AI-generated content, bots and synthetic identities become more of a problem on online platforms.
At the time of publication, WLD was trading at $0.31.
Featured image created with DALL.E, chart from TradingView.com
