Wormhole’s token (W) lost approximately 10% in one day and 24% over the past week. OKX whales were the main drivers of this decline, with their sell volume overwhelming their buy volume. Binance whales, however, have started accumulating the asset, signaling a potential trend reversal. The Funding Rate moved from -0.0484% to -0.0083%, indicating a significant reduction in short positions and therefore declining selling pressure. Liquidity heatmap analysis reveals a cluster of liquidity above the current price, suggesting a higher probability of a rebound toward an upper level.
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