Worldcoin witnessed a strong whale selloff yesterday, Sept. 25, but the asset still continued its upward momentum.

Worldcoin (WLD) is up by 17.3% in the past 24 hours and is trading at $2.12 at the time of writing. The asset’s market cap surpassed the $1 billion market again, making it the 69th-largest digital currency.

WLD’s daily trading volume also recorded an 85% rally, reaching $430 million.

According to data provided by IntoTheBlock, large Worldcoin holders recorded 6.23 million WLD — worth $13.15 million — in outflows on Sept. 25. The indicator shows that the number of whales selling the asset was much greater than the ones accumulating.

WLD price and large holders net flows – Sept. 26 | Source: IntoTheBlockWhale selloffs usually hint at times of panic or profit-taking, both of which lead to price declines. At this point, WLD has recorded a 32% price surge over the past week, remaining unfazed by the large whale selloff.

Per a crypto.news report on Aug. 21, Worldcoin’s 40% plunge below the $1.4 mark put over 92% of its holders at a loss

Data from ITB shows that the number of WLD holders suffering losses has declined to 68% at the reporting time

One of the bullish drivers for the WLD price was the recent announcement from the company. Worldcoin revealed that it launched World ID in three more countries — Guatemala, Malaysia, and Poland.

It’s important to note that price hikes on the back of big announcements have shown to be short-lived. If the whale selloff continues, a price correction would be expected for the WLD price.