Worldcoin (WLD) price continues to struggle after a steep decline that has erased close to 90% of its value from the 2025 peak. Recent on-chain activity has added a new layer of concern, as millions of tokens linked to the project appear to be moving toward exchanges at a time when the market is already fragile.
That context sets the tone for what could come next, especially as fresh data points to possible sell pressure building behind the scenes.
A recent update from crypto analyst Crypto Patel has drawn attention to a notable transaction involving Worldcoin WLD. Two wallets believed to be tied to the project moved 21.17M WLD, valued at about $5.57M, to the Bybit exchange.
That type of transfer often signals a potential intent to sell. Tokens do not usually move to exchanges without a reason, and past patterns across the market show that such flows can precede increased supply hitting order books.
Patel pointed out that traders should watch price action closely. His warning comes at a time when WLD price has already been under pressure for months, which makes the timing of this movement even more important.
WorldCoin Team Just Moved $5.57M worth of $WLD to Bybit… Dump Incoming?
— Crypto Patel (@CryptoPatel) April 25, 2026
2 Wallets Just Moved 21.17M WLD (~$5.57M) into #Bybit. Both Look Tied to the WorldCoin Team.
When team wallets send tokens to an exchange, it usually points to selling pressure ahead.
Watch the charts… pic.twitter.com/LJ5SYQVUsB
What you'll learn 👉
Repeated Exchange Deposits Show A Pattern Of Ongoing Distribution
This recent transfer does not stand alone. Another wallet linked to Worldcoin deposited 4.63M WLD, worth around $1.25M, to Binance in late April 2026. Reports suggest that this transaction locked in a loss of about $8.5M compared to the value a year earlier.
That detail reveals something deeper than a simple transfer. It shows that some holders may be willing to exit positions even at a loss, which often points to weakening confidence or urgent liquidity needs.
Data from earlier in March 2026 adds another layer to the story. The project reportedly sold about $226M worth of WLD through over-the-counter deals in just 9 days. Such activity does not directly hit exchange order books, but it still increases overall supply circulating in the market.
Tokenomics Structure Adds Pressure On WLD Price Outlook
Worldcoin’s token structure plays a major role in the current price action. Only about 2% of the total 10B supply is currently in circulation. That creates a situation where future unlocks can introduce large amounts of new tokens into the market over time.
That supply overhang creates constant pressure. Every unlock event brings the risk of additional selling, especially if early investors or team allocations become liquid.
There are also signs that some of these tokens are being used to fund operations. The project is expanding its Orb biometric network globally, and selling WLD could be one way to finance that growth.
Early Investors And Market Performance Add To Bearish Outlook
Selling activity has not been limited to team-linked wallets. Early investors, including Alameda Research, have been reducing exposure over time. Continuous distribution from large holders adds weight to the downside.
Read Also: Here’s How High Stellar (XLM) Could Go If MoneyGram Unlocks Global Stablecoin Rails
That sustained pressure shows up clearly in market performance. Worldcoin (WLD) price has underperformed Bitcoin by a wide margin, with losses exceeding 90% in some periods.
Some analysts have discussed the possibility of a bottom forming at lower levels. Even so, exchange inflows remain a key signal to watch, and current data still leans toward continued downside risk.
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