Recently, the performance of Worldcoin (WLD) has been somewhat dull, but institutional actions are quite interesting.

According to on-chain information, Multicoin Capital has aggressively accumulated around 55 million to 62 million WLD through OTC agreements. This transaction seems casual, but the timing is quite deliberate: it coincides with WLD's roughly 20% correction over the past month.

From the market sentiment, it’s indeed cooling off quickly. Since September, the number of active on-chain wallets has been declining, and the discussion heat and search index have also been decreasing. Coupled with tighter regulatory environments in countries like Thailand, these negative factors add up, exerting significant short-term pressure on the fundamentals.

It is precisely because of this that institutional moves at this time are particularly noteworthy. This doesn’t look like short-term speculation chasing highs, but rather a tangible vote of confidence in the market — they believe the current price is already worth deploying capital.

In the short term, prices may still be suppressed by sentiment, heat, and regulatory uncertainties. But from a medium-term perspective, the signal of institutions accumulating at the bottom is worth paying attention to — at least indicating that they have already incorporated this price range into their reasonable valuation.