This week, WLD token from the Worldcoin project soared by 142.7% against the U.S. dollar, topping the chart as the week’s most significant gainer. Hot on its heels was the digital currency bitget token (BGB), which saw an increase of just over 58% in the past week. Conversely, Astar (ASTR) experienced a decline of 6.4%, […]
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Worldcoin (WLD), the brainchild of OpenAI CEO Sam Altman, has experienced a significant level of positive traction in the past month. Notably, Worldcoin gained by over 50% in mid-December to attain an all-time high of $4.6. Although the token soon fell from these heights trading at $3.35 on December 25, it appears that WLD may be gathering momentum for another bullish breakout.
According to data from CoinMarketCap, Worldcoin has gained by 9.68% in the last seven days, signifying a steady rise in buying pressure from investors in the WLD market.
Using data from IntoTheBlock, popular crypto analyst Ali Martinez has given more insight into this bullish trend. On December 30, he shared via X that the number of WLD whales in possession of 10,000 to 100,000 WLD rose by 16.33% in the last week. Interestingly, this price increase and network growth occurred a few days after Worldcoin announced its expansion into the crypto-friendly nation of Singapore.
#Worldcoin | The number of #WLD whales holding between 10,000 and 100,000 $WLD has increased by 16.33% over the past week! pic.twitter.com/ps9xzcMtVd
— Ali (@ali_charts) December 30, 2023
In a blog post on December 27, the crypto project stated that it had successfully set up physical screening locations in the Asian nation allowing interested users to undergo the World ID verification process and join its growing network.
Beyond Singapore, Worldcoin also shared that it has registered an increased presence in several nations in the last month. These include Spain, Germany, Chile, and Japan. Notably, in Argentina, the crypto project recorded a national record of over 10,000 World ID verifications in a single day. Apparently, these multiple strides appear to have increased investor confidence in Worldcoin, as indicated in the price action stated above.
Based on recent developments surrounding Worldcoin, the token seems poised for a major boost in adoption which could translate into a price rise over the next few weeks. Aside from its expansion into new nations, the launch of the World ID 2.0 in mid-December, which introduced integrations with various Apps such as Reddit, Shopify, and Telegram, is also regarded as a positive development by the project’s growing number of users.
Interestingly, Martinez predicts that WLD could soon experience an 80% rally based on chart indicators alone. If this projection proves true, the altcoin could trade as high as $6.30.
However, despite all these indications, it must be noted that Worldcoin remains under heavy regulatory scrutiny in some nations due to privacy concerns in regard to user data.
Worldcoin operations have been actively suspended in Kenya and are under investigation in Germany and the United Kingdom. In fact, the crypto project recently halted its orb verification service in Brazil, France, and India although citing a “limited time access” on the screening orbs provided in these markets.
At the time of writing, WLD trades around $3.73 with a 3.90% gain on the last day. In tandem, The token’s daily trading volume increased by 83.12% and is valued at $197.52 million.
WLD trading at $3.75 on the daily chart | Source: WLDUSDT chart on Tradingview.com
Featured image from iStock, chart from Tradingview
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The iris-scanning crypto project Worldcoin has now made it possible for even unverified customers to reserve their Worldcoin (WLD) tokens.
In an announcement on Aug. 11, the Worldcoin project noted that the World App now offers a reservations feature to make it easier for everyone to reserve their WLD tokens before verifying their World ID. The reservation will be valid for 12 months and users can redeem their reserved world tokens by visiting the iris-scanning device called the Orb.
The Worldcoin project consists of three key elements: the Worldcoin ID, the Worldcoin App and the Worldcoin token (WLD). Users willing to scan their iris to create a biometric data-based ID system are rewarded with native WLD tokens.
Worldcoin launched on July 24 after three years of development. The project promises to create a global database for humans to differentiate it from the bots in the future. The project’s claim is based on the fact that in the future, artificial intelligence (AI) will become so prominent that it will become difficult to differentiate real humans from bots on the internet, with World ID becoming a default ID system for humans to get access to various services.
Related: Worldcoin rebuts reports of lacklustre takeup as Altman cites Japan queues
The project has made some bold claims and proposes to solve a utopian problem, resulting in a comparison with sci-fi shows such as Black Mirror. However, the project is already facing multiple investigations and regulatory troubles for its operations. The project was first suspended in Kenya over its data collection methodology. The government of Kenya is specifically concerned with Worldcoin collecting crucial identification information like iris scans in exchange for a digital ID.
Apart from suspension in Kenya, the project is also facing regulatory action in Argentina and the United Kingdom. While the project on-boarded over 2 million customers before its public launch, the response from customers after the launch has been lacklustre. The creators didn’t reveal the actual number of users who have claimed their WLD tokens while claiming that the response has been very encouraging with long queues.
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Worldcoin and its native token WLD have been taking the attention of crypto investors, according to recent data from Coingecko. The project recently announced its worldwide launch inviting users to “visit the orb” and receive rewards by onboarding the platform.
WLD has doubled its value from its launch on July 24th, when the cryptocurrency was trading at around $1. The token rose to $2.19 the following week and has been moving sideways since amid a surge in controversy from different angles.
In addition to WLD, Coingecko shows that Bitcoin (BTC), Unibot (UNIBOT), Chainlink (LINK), HarryPotterObamaSonic10Inu, and Pepe Coin (PEPE) have been trending along with other tokens. Bitcoin remains the leader on this chart despite the crash in the BTC.D chart.
This metric gauges the percentage of the crypto total market cap comprised solely of Bitcoin’s market capitalization. Often, when the chart trends to the upside, altcoins, such as Worldcoin (WLD) and PEPE, experience a drop in their prices and vice versa.
In that sense, WLD’s launch came at a favorable time for small tokens. The project has promised a reward for every user willing to scan their eyeballs with one of the devices scattered around different countries.
Thus, sparking controversy about their practices from the crypto community and regulators, some of which are already looking into the project’s legitimacy.
Via his Twitter (X) account, Adam Cochran wondered if the hype around WLD is organic or fabricated by a marketing strategy. Cochran wrote:
So either Worldcoin, or some group of Orb operators are legit paying plants to stand in line at orbs both for videos and to create demand for the orbs. Got pinged by an old marketing firm friend who does field event marketing, who was asking if Worldcoin is legit.
While WLD took over the global attention in the nascent sector, PEPE Coin is still the king of the top trending tokens in 2023. Research conducted by Marketplace Fairness indicates that the token has been trending across 23 of the 50 states in the U.S., including Florida, California, and Texas.
The cryptocurrency was launched a few months ago but has already garnered more interest than Cardano (ADA), XRP, Litecoin (LTC), Dogecoin, etc. Most of these tokens only trended in 2 of the 50 states in the U.S. in 2023.
UK data regulator, the Information Commissioner Office (ICO), has laid out intentions to probe the newly launched crypto project Worldcoin.
According to a report by Reuters on July 25, the ICO has taken notice of WorldCoin’s launch in the UK and will now proceed to “making further inquiries.”
Launched on Monday, Worldcoin is an Ethereum-based project founded by the CEO of OpenAI, Sam Altman. On the protocol’s official website, it states that Worldcoin aims to be “the world’s largest identity and financial public network.”
To achieve its aim, the network utilizes a digital identification system known as “World ID,” designed to differentiate humans from artificial intelligence online.
Interested Worldcoin users are required to undergo a physical iris scan process at one of the project’s “Orb” locations before being granted a WorldID, prompting much concern over the user’s privacy.
Currently, there are three Worldcoin Orb locations in the UK, all of which are based in London. Globally, the crypto project has already managed to establish 125 orbs locations in 20 countries across 5 continents.
Following the launch of Worldcoin on Monday, its native token, WLD, had an impressive debut in the market, rising by 88% and hitting a peak price of $3.31. However, the WLD token has since then recorded an overall negative price movement.
Based on data from CoinMarketCap, WLD is currently down by 16.76% in the last 24 hours, trading as low as $1.92 within this period.
According to Worldcoin’s whitepaper, WLD is primarily designed as a utility token for network governance. However, the token also serves as a payment medium for specific services in the World App or other crypto wallets.
Related Reading: Countdown To FOMC: What Bitcoin And Crypto Traders Must Brace For
At the time of writing, WLD is exchanging hands at $2.13, with a 0.57% gain in the last hour. The token’s 24-hour trading volume is also up by 34.56% and is valued at $403.35 million. With a market cap of $231.09 million, WLD ranks as the 124th largest cryptocurrency in the market.
WLD Trading At $2.2432 On The Hourly Chart | Source: WLDUSDT Chart On Tradingview.com
Featured Image From Worldcoin, Chart From Tradingview
