Major Whale Purchase Hints Possible WLFI Crypto Bounce from $0.10 Support

Key Insights:

• WLFI Whale scoops 21M WLFI crypto in a $2.75M high-conviction buy.
• Whale accumulation and easing funding rates hint at a possible rebound for WLFI price.
• $0.10 support remains key as WLFI faces a high-volatility breakout zone.

There was excitement in the World Liberty Financial (WLFI) crypto investor circles on Monday after a whale scooped up a bulk purchase of WLFI crypto tokens. The single wallet used $2.75 million USDC to grab 21.11 million WLFI tokens.

The WLFI whale move came only a few days after Zak Folkman, co-founder of World Liberty Financial, announced that the project would launch World Swap, a foreign exchange (FOREX) and remittance platform targeting the $7 trillion FOREX market.

These recent moves have sparked talk among traders that big players are likely positioning for a rebound.

A Major Whale Buys 21 Million WLFI Crypto Tokens in One Shot

Data from Arkham Intelligence revealed that 21.106 million WLFI flowed from CoW Protocol Settlement to the Gnosis Safe. The WLF tokens were acquired for 2.7million USDC on Monday. The whale used a brand-new wallet to execute the trade.

WLFi price remained suppressed despite the large whale purchase. Nevertheless, such purchases often align with accumulation, especially after a major downtrend. WLFI price is currently down by almost 50% since mid-January.

Whales Stay Bullish Despite Weak Demand

Order-book data across spot and derivatives markets showed more whales leaning bullish, even though overall demand remained light. CoinGlass data showed WLFI whale buy orders totaling over $17.22 million across the three top exchanges, OKX, Coinbase, and Binance.

OKX perpetuals led with $11.10 million, followed by Binance Futures at $6.09.

In the spot section, whales loaded up on WLFI crypto only on Coinbase and Binance. No purchase action was recorded on OKX spot.

Large players stacking bids like this means they expect higher prices ahead. Despite this retail volumes were still thin at the time of writing, which was a reflection of the weak market sentiment..

Meanwhile, perpetual futures data from CoinGlass indicated negative funding rates have cooled in recent hours. Funding rates previously stretched into negative territory, signaling bearish expectations.

Declining negative funding rates indicate that short sellers are less confident about more downside from the current WLFI price level. In other words, reduced bearish conviction and easing downside. This makes it easier for the WLFI token to rally if it can secure enough demand.

Can WLFI Price Hold and Bounce at $0.10?

The WLFI price has recently been hovering near the bottom range at around $0.10. This same price level previously acted as support multiple times in the recent past. Additionally, rising whale activity near the same level suggests that whales may be attempting to frontrun a potential WLFI rally.

One big buyer, followed by some observed bullish activity from the whale cohort, was not enough to fuel a recovery. However, the combination of whale accumulation, improving funding rates, and a clear support zone has piqued traders’ interest.

Looking ahead, WLFI crypto could see fresh upside if the $0.10 support holds. However, bears may regain control if the support fails, possibly leading to more capitulation.

WLFI’s price previously traded below its current level in October last year. In fact, it fell as low as $0.071. This may be the next support level if WLFI price faces another bearish capitulation event. Whales may currently be testing the waters, but one thing is clear. WLFI is reigniting interest and could be headed for more volatility down the road.