Amid a wave of bullish market sentiment, Worldcoin (WLD) has distinguished itself as the leading gainer among the top 100 cryptocurrencies.

In the past 24 hours, WLD has experienced a remarkable surge of 23.6%, propelling its price to $6.50, marking its highest level in three weeks. With a market cap of $1.32 billion, Worldcoin now holds the position of the 70th-largest digital currency by market capitalization.

Adding to the excitement, the daily trading volume of Worldcoin has seen an impressive rally of 109%, reaching a staggering $520 million within the same timeframe.

Data provided by Santiment reveals that Worldcoin's total open interest has also surged by 21.5% in the past day, climbing from $131.9 million to $160.3 million. This surge in open interest suggests increased market activity, potentially leading to higher price volatility fueled by whale activity and potential liquidations.

Despite the surge in open interest, the total funding rate for WLD aggregated from all exchanges has dropped from 0.008% to 0.001% in the past 24 hours. This movement indicates a significant increase in short positions as traders bet on a potential price decline despite the asset's rally.

On the on-chain front, Worldcoin's exchange inflow stands at 454,380 WLD, while the exchange outflow amounts to 542,360 WLD, resulting in a net outflow of 87,980 coins in the past 24 hours. This suggests that despite bearish expectations, some investors are actively accumulating Worldcoin.

Noteworthy is the rise in Worldcoin's Relative Strength Index (RSI) from 40 to 54 over the past 24 hours, indicating a slight overheating of the asset. An RSI below 50 typically signals a stable price hike, further contributing to the intrigue surrounding Worldcoin's current market performance.