Worldcoin (WLD) Leads the Gains With a 37% Surge After Its $135 Million Token Sale to a16z and Bain Capital Crypto

Worldcoin (WLD) led the gains with a 37% surge after its $135 million token sale to a16z and Bain Capital Crypto.

The cryptocurrency market showed mixed signals on Tuesday, with major tokens such as Bitcoin and Ethereum trading flat while some smaller tokens led the gains.

Among the best-performing tokens were Worldcoin (WLD), which surged 37% in the past two days, and Jupiter (JUP), which outperformed the market with a gain of almost 7% as its ecosystem saw several new developments.

On the other hand, EOS is struggling to maintain its gains after World Liberty Financial (WLFI) made a $3 million purchase of EOS tokens, sparking speculation in the crypto community.

Worldcoin (WLD)

Worldcoin has shot up 37% in the past two days, hitting a three-month high after a16z and Bain Capital Crypto revealed a direct token sale of $135 million in WLD.

WLD is also the best-performing token among US-made coins in recent days.

This funding was not a traditional venture investment round but rather a token purchase based on market prices, which instantly increased WLD’s circulating supply-as evidenced by the $135 million jump in market capitalization shortly before the announcement was made.

The funds will be used to expand biometric identity operations in the US, following regulatory hurdles in Europe and Africa.

This suggests that buying strength is on the rise, which makes it more likely that WLD will test the resistance level at $1.64. If this level is successfully broken, WLD could surpass $1.70 for the first time since late January.

However, traders need to keep an eye on the support level at $1.36-if this level fails to hold, WLD risks a deeper correction to around $1.17 or even $1.05.

Jupiter (JUP)

Jupiter managed to buck the overall downward trend of the market, recording a gain of almost 7% on May 23 while most major tokens experienced a decline.

The hike comes on the heels of an activity-packed week for the Jupiter ecosystem, which saw the launch of a mobile app, a strategic partnership with Moonpay, and the debut of the Jupiter Lend lending service.

Technically, JUP is still below the important resistance level at $0.635, which it recently failed to break.

If it successfully retests and breaks this level, JUP has a chance to continue its rise towards $0.84. In a strong uptrend, the token could even try to break the $1 level for the first time since February.

However, if momentum weakens and JUP drops to test support at $0.52, failure to hold this level could trigger a sharper drop to $0.465.

In a deeper correction scenario, the price could drop to $0.40, $0.348, or even $0.30, making the current breakout moment crucial for buyers.

EOS

About a week ago, World Liberty Financial (WLFI) sparked controversy in the crypto community after making a $3 million purchase of EOS tokens-a move that immediately raised suspicions.

The timing of the purchase, which came after WLFI reportedly suffered a $125 million loss from selling ETH at its lowest point in three months, sparked speculation of potential market manipulation.

While many have doubted the motives behind the transaction, there has been no concrete evidence to suggest insider trading violations or practices.

Interestingly, the price of EOS had jumped more than 9% after the purchase, amplifying the debate on whether WLFI’s move was strategic or just a coincidence-making it one of the US-made coins to keep an eye on.

But since then, EOS has struggled to maintain its momentum and is now down nearly 10.5% in the last seven days. The token recently failed to break resistance at $0.79 and is now at risk of further decline.

If the selling pressure continues, EOS could potentially test support at $0.72. If this level is broken, the price could drop deeper towards $0.652 and even $0.583.

On the other hand, if positive momentum returns and EOS is able to break back to $0.79, the next target is at $0.869 and possibly reaching $0.97-though it would require a fairly strong reversal in the market trend.