W gained roughly
↗4.5%
over the past 24 hours but trailed its surging Layer 2 category by approximately
↘5%
, with more people selling than buying.
Daily bounce masks underlying weakness
W climbed roughly
↗4.5%
over the past 24 hours but trailed its Layer 2 category by approximately
↘5%
over the same period and
↘28%
over the past week, while about 1.3 times more people sold than bought despite the ratio improving roughly
↗24%
over the past day.
Blockchain data shows continued caution
Blockchain data reveals holders are selling at a loss with fear levels elevated, while trading activity increased roughly
↗20%
over the past 24 hours but remains concentrated among a small group of participants.
Layer 2 category strength provides backdrop
The broader Layer 2 category jumped roughly
↗8%
in market value and
↗107%
in trading volume over the past 24 hours as investors rotated into infrastructure plays, though W captured little of that momentum amid broader risk-off conditions from Middle East tensions pushing oil prices higher.