Worldcoin’s recent rally has led to a sharp increase in on-chain activity, with whale transactions, active addresses and new wallet creation rising with WLD briefly rising above $0.408 to an 11-week high. This move has since reversed, with live market data showing WLD back near $0.31 after a double-digit 24-hour decline, making the rally appear increasingly driven by FOMO rather than a clean trend shift.
The Santiment chart tracks WLD’s price movement against three network indicators: whale transactions, daily active addresses, and network growth. According to For the company, whale transactions rose to 64 in 24 hours, the highest level in 2026. Active addresses jumped to 1,309, the second highest reading of the year, while network growth reached 379 new wallets in 24 hours, also the highest level in 2026.
Why did Worldcoin rise and fall?
This mix is notable because the activity did not come from just one sector. Whale transactions They indicate movement of large holders, active addresses capture broader usage or trading activity, and network growth reflects new wallets entering the ecosystem. When all three rise along with the price, it usually indicates that large investors and small participants are transacting with the asset at the same time.
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But Santiment cautioned that the timing appears speculative. “Worldcoin activity has exploded across the chain along with its rise to an 11-week price high above $0.408, showing a significant increase in retail and whale participation,” the company wrote. “When whale activity, active addresses, and new wallet creation spike together, it usually indicates that both large investors and smaller traders are becoming increasingly involved in a project at the same time. However, these spikes all seem to be somewhat related to FOMO, and coincided with the huge WLD price spike that just occurred.”
The reversal gives this warning greater importance. After rising above $0.408, WLD fell back towards the -$0.30 range, with live data showing that the token is near $0.308 and is down approximately 25% since the peak.
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The likely catalyst was the integration of Oku Trade into the global app, the launch of a DeFi pool within the global app, along with weekly swap contests and WLD reward incentives for users. This is important for interpreting on-chain data: a new trading feature and rewards program could increase swaps, wallet activity, and speculative interest at the same time, but it could also drive demand that fades once the initial incentive cycle cools.
The broader Worldcoin narrative remains tied to proof of identity. Participated in its founding OpenAI CEO Sam AltmanThe project is trying to build Global digital identity system Based on biometric verification through Orb devices. This story has gained significant attention as content generated by artificial intelligence, bots, and synthetic identities have become a greater concern across online platforms.
At press time, WLD was trading at $0.31.
Featured image created with DALL.E, a chart from TradingView.com
