Key Takeaways
What triggered the recent surge in WLFI’s price and trading activity?
Trump’s presidential pardon of Binance founder CZ reignited investor interest, driving bullish momentum for WLFI.
What does the shift in whale behavior and netflow data suggest about WLFI’s outlook?
Rising accumulation and negative netflows indicate growing confidence and potential for further price gains.
World Liberty Finance [WLFI] successfully defended $0.11 support and surged to a local high of $0.15 before slightly retracing.
At press time, WLFI was trading at $0.142, gaining 13.87% on the daily charts.
Likewise, its volume surged 141% to $412 million while its market cap rose 13% to $3.7 billion, indicating steady capital flow.
But what triggered this sudden upsurge?
Trump pardons Binance founder
WLFI saw renewed activity after a quiet week, following President Donald Trump’s pardon of Changpeng Zhao, the founder of Binance.
Zhao had served four months in prison after pleading guilty to violating the Bank Secrecy Act. Binance was fined over $4 billion, and Zhao personally paid $50 million before stepping down as CEO.
With his record cleared, CZ may return to a leadership role at Binance.
This development sparked bullish sentiment among Binance investors toward WLFI, a token CZ actively promoted during his campaign for a pardon.
Buyers make a comeback
Significantly, following the recent news, buyers, both retail and whales, returned to the market to accumulate WLFI.
On the 23rd of October, World Liberty Financial saw $283.81 million in Buy Volume, compared to $281 million in Sell Volume.
Source: Coinalyze
As a result, the altcoin recorded a positive delta of 2 million, a clear sign of aggressive spot accumulation. This trend continued on the 24th of October, with buyers scooping 49.17 million tokens.
Furthermore, exchange activity echoed this accumulation. According to CoinGlass, WLFI’s Spot Netflow turned negative once again.
Source: CoinGlass
At press time, Netflow was -$1.27 million, a drop from $2.24 million the previous day. Often, a negative netflow indicates higher outflows, another sign of spot accumulation.
On top of that, WLFI’s top holders also saw a shift in sentiment from net selling to net buying.
According to Nansen data, top holders increased their holdings by 12.9 million tokens, having offloaded 144 million tokens the previous time.
Source: Nansen
This indicates a significant shift in whale behavior towards accumulation, often a prelude to higher prices.
Can WLFI rally on the wave?
World Liberty Financial rallied as investors returned to the market following Trump’s presidential pardon of Binance Founder CZ.
For that reason, the altcoin’s Sequential Pattern Strength surged to 9.8, as of writing, signaling buyer dominance, thus creating a strong upward momentum structure.
Source: Tradingview
At the same time, Stochastic RSI jumped to 82, hitting the overbought zone, further validating the strength of the uptrend.
When these momentum indicators reach such levels, they signal trend-continuation potential but also warn of volatility.
Therefore, if the demand recorded for the past day holds, WLFI will eye $0.18. A breach of this level could see WLFI return to $0.20.
However, if the uptick creates a profit-taking window, any downward pressure will likely push prices back to the $0.11 support level.
