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Worldcoin is heading for a 9% decline to below $1 as open interest in futures contracts decreases.

Worldcoin is facing a decline in open interest as liquidations rise.
The net open interest (OI) for Worldcoin futures contracts, which indicates the nominal value of outstanding futures or options contracts, decreased by 38% from the July peak of $465 million.

The steady decline to 287 million USD indicates a decrease in risk sentiment for WLD, as fewer traders are betting on a short-term price increase. If this trend continues, a recovery for WLD above the 1.00 USD level may be a distant dream in the near term.

The subsequent increase in liquidation, which reached $2.12 million over the past 24 hours, with long position holders bearing the brunt at $2 million, confirms the bearish momentum.

However, the bullish trend reversal may gain momentum in the upcoming sessions if the weighted funding rate for futures stabilizes in the positive territory. A positive funding rate indicates that more traders are using long positions in the WLD index, increasing the likelihood of a rebound.
- Open Interest Futures Contracts Chart of Global Currencies
- Futures contract filtering data for WLD
- Chart of the weighted funding rate index for WLD futures contracts