Worldcoin Price Bounces Back Amid Arthur Hayes Exit and HTX Dispute

Worldcoin (WLD) has made a significant recovery from its recent drop, despite the exit of Maelstrom co-founder Arthur Hayes from his position. On June 4, Lukas Ruppert published a bullish investor note calling Worldcoin an 'overlooked' bet on the wave of AI mega IPOs, with a price target of $5 by August. This sparked a quick rally, pushing WLD up to $0.60 by Friday.

However, just two days later, Arthur Hayes reversed course entirely and sold his entire WLD position, citing that 'this chart is going in the wrong direction'. The exit caught many off guard, particularly because Hayes had said just days earlier that he planned to hold WLD through the SpaceX Nasdaq IPO. This has led to public criticism from on-chain analyst ZachXBT.

The 24-hour trading volume for WLD stands at $563.8 million, a substantial figure reflecting active participation despite the negative headlines. Analysts note that this is not the first time Hayes has done something like this, citing his previous predictions and sales of Hyperliquid (HYPE) and Zcash (ZEC).

A separate but related development involving crypto exchange HTX has added to the turmoil around Worldcoin. HTX has delisted the USD1 stablecoin issued by World Liberty Financial (WLFI), following a sanctions compliance review by WLFI. This dispute also has a backstory, with HTX adviser Justin Sun having previously filed legal proceedings against WLFI.

Despite the negative news flow, WLD's technical setup remains constructive. Analysts note that out of 23 indicators, 14 are currently bullish and none are bearish. A key resistance level at $0.5418 will determine whether WLD continues its uptrend or faces further losses.