While the global cryptocurrency market capitalization has decreased by 1.5% in the past 24 hours to $2.46 trillion, certain tokens are making big moves and attracting attention. Bitcoin, the world’s largest cryptocurrency by market capitalization, fell 1%.
However, amidst this market movement, certain tokens such as Worldcoin (WLD) and Litecoin (LTC) have shown notable developments and are gaining market interest.
World Coin soared 44% in May
World Coin (WLD), an AI asset, has experienced impressive growth with its market capitalization surging 44% in May, recovering from the lows observed at the end of April. This upward momentum coincides with heightened interest in the wake of Warren Buffett’s controversial comments, highlighting concerns about AI’s role in enabling illicit financial activity.
In line with this surge, Santiment data reveals that WLD’s total open interest increased by a significant 21.5%, jumping from $131.9 million to $160.3 million in the past day .
In response to these market movements, WLD rose 23.6% in the past 24 hours, reaching a trading price of $6, the lowest level in three weeks. The asset currently has a market capitalization of $1.32 billion, making it the 70th largest digital currency by market capitalization.
Litecoin makes a strong comeback
Meanwhile, the well-known cryptocurrency Litecoin has received renewed interest due to discussions with Grayscale about a possible Litecoin exchange-traded fund (ETF). This renewed interest has increased speculation and market attention on future ETF developments.
As pointed out by trader Kamikaze, recent data from Santiment sheds light on Litecoin market trends. Over the past two months, the price of Litecoin has fluctuated from $113 to $74.5 in his two-month period, and nevertheless remained above $80.
However, the EMA, which is a reliable technical indicator, indicates a possible bearish crossover between the 20-day EMA and the 100-day EMA. This could increase selling pressure and extend the current consolidation. Additionally, the daily RSI is around 44%, indicating that market sentiment is neutral to bearish.
As these tokens continue to make waves in the cryptocurrency space, investors are closely monitoring developments and market trends to take advantage of new opportunities.
