Worldcoin (WLD) has seen a 40% daily jump following Eightco’s announcement of the first WLD treasury strategy in the world. Amid the rally, some analysts suggest that the cryptocurrency could see a 200% run to the December highs.
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Eightco Unveils First Worldcoin Treasury Strategy
On Monday, public e-commerce infrastructure firm Eightco Holdings Inc. announced it has secured a $250 million private placement to implement the first-of-its-kind Worldcoin treasury strategy.
According to the press release, Eightco’s capital raise involved the sale of 171.2 million shares of common stock at $1.46 per share, with an additional 13.7 million shares issued to BitMine, the largest Ethereum (ETH) treasury company, at the same price.
On September 8, BitMine announced a $20 million strategic investment into Eightco Holdings Inc. (NASDAQ: OCTO) as part of OCTO’s $270 million private investment in public equity.
BitMine’s investment marks the start of its “Moonshot” strategy, aiming to allocate 1% of the company’s balance sheet into projects to strengthen the Ethereum ecosystem and create value for BitMine equity shareholders.
Thomas “Tom” Lee, Chairman of BitMine, noted that the company “wants to support and back innovative projects that create value for the Ethereum network. As an ERC-20 native token, World is aligned with Ethereum. World’s unique zero-knowledge Proof of Human credential could be essential to future trust and safety between technology platforms and their billions of human users.”
Eightco stated that proceeds from the private placement will allow the company to adopt Worldcoin as its primary treasury reserve asset. It added that the treasury may also hold ETH as a secondary reserve asset, but the primary emphasis will be on WLD.
“Worldcoin will serve as the Company’s primary treasury reserve asset. In connection with the closing of the offering, the Company intends to change the Nasdaq trading symbol of its common stock to ‘ORBS’, which is expected to take effect on September 11, 2025,” the press release reads.
WLD Breakout Eyes 200% Rally
Following the announcement, Worldcoin broke above the $1.50 barrier, hitting a three-month high of $1.58 and nearing a crucial resistance level. The cryptocurrency has been accumulating between the $0.60-$1.60 price range for the past seven months, failing to break out of this range during the May and August rallies.
However, WLD has been recently gaining momentum, with its price surging around 30% over the weekend and reclaiming the $1.00 mark. Market watcher Alpha Crypto Signals noted that Worldcoin broke out of a nearly two-month falling wedge on the daily chart, signaling a potential trend shift for the token.
They highlighted that WLD reclaimed the 9 EMA after the breakout, and the push beyond key resistance levels gave bulls the upper hand, adding that “WLD buyers took control exactly as anticipated.”
Meanwhile, analyst LlucianoBTC pointed out a four-month falling wedge on WLD’s chart, affirming that Worldcoin is targeting a “spectacular” rally once the breakout is confirmed.
According to the chart, the cryptocurrency has broken out of the formation’s resistance at $1.20 after two failed attempts, which could send the price to last year’s highs if momentum holds.
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Similarly, Captain Faibik asserted that Worldcoin was on the verge of a multi-year trendline breakout on the daily chart, targeting a 200% rally to the December 2024 high, around the $4.00 area. Since then, the cryptocurrency has broken out of the major resistance and is attempting to reclaim the $1.50 level as support.
As of this writing, Worldcoin is trading at $1.51, a 73% increase in the weekly timeframe.
Featured Image from Unsplash.com, Chart from TradingView.com
