An address associated with the Worldcoin project team has deposited a cumulative 10.5 million Worldcoin ($WLD), valued at $4.857 million, onto the OKX exchange, according to on-chain tracking.

Worldcoin is the identity-focused crypto project co-founded by OpenAI chief executive Sam Altman, and wallet movements tied to its team draw attention in on-chain tracking because they involve insider supply rather than retail-held tokensn
Tracing the source of the funds shows the tokens were transferred by the project's team three years ago, meaning the deposit places long-held insider coins into exchange supply. The deposit arrived just three days after another address linked to the team moved $1.6 million worth of $WLD to exchanges.

Why Team Deposits Matter

Inflows from project teams onto exchanges are generally treated as short-term bearish signals because they increase the number of tokens available for sale. Not every deposit is sold immediately, but project-linked transfers can precede sell-offs. Such flows are a recurring feature of crypto markets, where token distributions commonly reserve allocations for teams and early backers, making project-linked wallet activity one of the supply-side indicators traders monitor alongside price and volume.

In this case, if the deposited tokens are sold — particularly while $WLD is struggling — they could place significant downward pressure on the asset.

Current Market Picture

The deposits come as $WLD faces intense downside pressure, having slid to a low of $0.45. Since being rejected at $0.59, the token has closed at lower lows for five consecutive days, reflecting a sustained downward trajectory.

Despite the team-linked deposits and the price decline, there has been no sign of panic. Instead, more capital flowed into both perpetual futures and the spot market, suggesting renewed interest in buying the dip.

Over the past 12 hours, for example, $63 million flowed into opening new futures positions, compared with $60 million in outflows. As a result, Futures Netflow rose 129% to $3.22 million — a positive reading indicating that more capital entered the futures market than left it.

On the spot side, exchange outflows increased significantly on October 24 as the price continued to drop. Spot Netflow consequently fell to -$5.2 million, and the trend persisted at press time, with netflow remaining around -$0.5 million. The higher exchange withdrawals may indicate accumulation or an intention to hold $WLD.

What's Next for $WLD

Although buyers have stepped in, the market's direction still leans bearish. The Relative Strength Index (RSI) confirms the weak momentum: the indicator has been on a sustained decline, moving deeper into bearish territory. At 43, the RSI sits below the 50 midline where bearish momentum prevails, yet remains above the 30 threshold traditionally viewed as oversold — a setup that suggests the downtrend may continue.

Worldcoin is currently testing the $0.45 support. If prevailing market conditions persist, the altcoin is likely to breach this level and drop to $0.40. However, if the buying activity witnessed in the spot and futures markets is sustained, the token could rebound, reclaim $0.50, and target the $0.56 resistance level.

Near-term checkpoints for observers include whether the newly deposited tokens surface in OKX sell orders, whether spot exchange outflows continue to signal accumulation, and whether futures inflows keep outpacing withdrawals.

The team-linked deposit of roughly $4.86 million in $WLD lands at a delicate moment for the token, which has extended its bearish streak to a $0.45 low even as spot and futures flows point to dip-buying. The next move therefore depends on whether prevailing conditions persist or the dip-buying is sustained.

This report was originally published by AMBCrypto.