Worldcoin creates on-chain winners after posting 230% monthly gains

• Worldcoin price climbed over 230% in the past month as the Artificial Intelligence narrative and NVIDIA earnings catalyzed gains.
• WLD price rally created several on-chain winners, wallets that realized between 80% and 200% gains on their Worldcoin holdings. 
• WLD holders have consistently taken profits since February 10.

Worldcoin (WLD), the token of the digital identity project, has registered massive gains in the past month. WLD price offered 230% monthly gains to holders as two key catalysts supported the AI token’s price rally: Open AI’s release of Sora and NVIDIA earnings. 

Data from on-chain intelligence tracker shows big wallet addresses realized millions in profits as WLD price rallied. These metrics also reveal that WLD holders have consistently taken profits since February 10, when the price rally started to gather momentum. 

Also read: Worldcoin breaks into massive rally, climbs 25% overnight as OpenAI unveils Sora

Worldcoin holders opt for profit-taking

As the Artificial Intelligence (AI) narrative gathered steam in the past month, AI-related tokens registered considerable price gains. OpenAI, the parent company of Worldcoin, announced the release of its text-to-video generator tool, Sora, fueling the AI narrative. Furthermore, NVIDIA’s Q4 2023 earnings release, which beat expectations, also supported gains in AI tokens. 

On-chain intelligence tracker Arkham Intelligence identified the top five wallet addresses that made the most of the WLD price rally. These investors raked in between 84% and 236% returns on their WLD holdings. 

One of the top gainers bought WLD in 2023 at an average price of $2.

Other on-chain metrics suggest that many investors have followed suit, even if gains have been less hefty. The Network Realized Profit/Loss (NPL), a key on-chain metric that helps identify the net profit/loss realized by an asset’s holders on a given day, shows that WLD holders have taken profits consistently since February 10. Strong spikes in a coin’s NPL indicate that its holders are, on average, selling their bags at a significant profit. Therefore, large profit-taking spikes are typically followed by a correction in prices.

It remains to be seen whether the trend repeats and WLD price sees a correction.

Network Realized Profit/Loss. Source: Santiment 

While profit-taking could negatively impact WLD price, Supply Distribution data from Santiment shows that the segment of wallets holding between 100,000 and 1 million WLD tokens has accumulated the asset between February 10 and 27. 

This segment typically accumulates as WLD price rallies. Once this segment of WLD holders shed their holdings, there will likely be a decline in the asset’s price. 

WLD wallets holdings between 100 and 1,000 and between 1,000 and 10,000 WLD tokens, have also consistently accumulated the asset in the same timeframe. Still, these two cohorts don’t represent a significant portion of all Worlcoin’s holders.

WLD Supply Distribution. Source: Santiment

WLD price trades at $8.003 at the time of writing, up nearly 1% on the day.