Worldcoin Team's Large Token Sale Raises Fears of Price Decline

The recent sale by two wallets linked to the Worldcoin team has added to the altcoin's selling pressure. According to data from Onchain Lens, these wallets deposited 21.17 million WLD tokens worth approximately $5.57 million into Bybit three weeks ago and have finally decided to cash out.

The market has been experiencing ongoing weakness, with most active market participants increasing their spending. Worldcoin saw a significant sell-side volume of 24.4 million, while Binance reached an even higher selling volume of 18 million.

As a result of the aggressive selling, the Bulls v. Bears indicator has remained negative for nine consecutive days, currently at -9.1. This suggests that bears have a strong hold on the market, and buyers have done little to resist the pressure.