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Binance Futures will launch the WLDUSD COIN-M Perpetual Contract on October 2, 2024, offering up to 20x leverage, according to Binance. (Read More)
Alameda Research has recently initiated the transfer of its $WLD tokens to centralized exchanges (CEX). Approximately nine hours ago, the company made its first significant move by sending 205,387 $WLD tokens, valued at $352,000, to Binance. This transaction occurred after Alameda vested the tokens from Worldcoin, which were acquired a […]
Worldcoin ($WLD) has emerged as a dominant force within the Optimism ecosystem, showcasing remarkable growth over the past year. The number of unique addresses holding $WLD skyrocketed from 477,000 in August 2023 to a staggering 4.7 million by August 26, 2024. This rapid expansion highlights a strong surge in community […]
Worldcoin (WLD) has been on a rollercoaster ride the past few months. After hitting an all-time high of nearly $12 in March, the coin embarked on a downward spiral, plummeting over 60% in the last three months. This dramatic drop has made investors jittery, with whispers of regulatory woes and profit-taking swirling around the beleaguered token. Related Reading: Ethereum DApps On Fire: Volume Soars Over 90% Good For ETH Price? However, a recent surge in price suggests a potential comeback story in the making for the token powering the digital identity application. As of today, WLD sits at $2.27, a modest yet significant rise compared to its November 2023 lows. This upward trend has analysts cautiously optimistic, but several factors could determine whether WLD rebounds or retraces its steps. From Gloom To Hope: A Shift In Sentiment Social media sentiment surrounding Worldcoin paints a fascinating picture. Just a month ago, the online conversation was dominated by negativity, with the “Weighted Sentiment” metric reflecting a decidedly gloomy outlook. This negativity likely stemmed from the sharp price decline, leading many to question the project’s future. However, a recent shift in sentiment has emerged. The negativity has dissipated, replaced by a cautious optimism. Online chatter now reflects a “wait and see” approach, with some investors expressing renewed interest in the project. This positive sentiment could prove crucial in WLD’s potential recovery. A bullish online community can translate to increased demand for the token, propelling its price upwards. This sentiment shift can be attributed to a few factors. Firstly, the recent price increase has undoubtedly boosted morale. When investors see a token clawing its way back from the abyss, it fosters a sense of hope and encourages them to hold onto their holdings. Secondly, the oversold signal from the Relative Strength Index (RSI) might be interpreted as a buying opportunity by savvy investors, further contributing to the positive buzz. Bulls Charge Ahead, But Can They Stay The Course? Another interesting development is the activity of “whales,” large investors who can significantly impact a token’s price. According to the Bulls and Bears Indicator, there’s been a surge in buying activity from these whales. This suggests a renewed confidence in WLD’s potential, and if this buying pressure continues, it could propel the token towards the coveted $3 mark in the short term. However, there are potential roadblocks ahead. The RSI, while currently indicating a healthy balance, could swing back towards overbought territory. This would signal a potential retracement, where investors who bought at lower prices might cash out, causing a temporary dip. Additionally, if the bulls lose steam and selling pressure mounts, the recent gains could be quickly eroded. Related Reading: Bitcoin Examined: These Critical Points Are Very Bad For BTC, Analyst Says Worldcoin Price Forecast: A Bullish Long-Term View Looking beyond the immediate future, several price prediction models offer a glimpse into WLD’s long-term prospects. One such model estimates a 48% increase in the next seven days, potentially pushing the price to $3.56. This short-term prediction hinges on sustained buying pressure and a healthy balance between bulls and bears. The long-term outlook appears even more bullish. Some analysts predict a price of $6.41 in one year, representing a significant increase from current levels. This optimistic view is likely based on the continued development of the Worldcoin identity application and its potential for widespread adoption. While the future remains uncertain, the recent developments surrounding WLD offer a glimmer of hope. A positive shift in sentiment, increased buying activity, and a potentially bullish long-term outlook paint a cautiously optimistic picture for the embattled token. Featured image from X/@worldcoin, chart from TradingView
Starting tomorrow, Worldcoin (WLD) will commence the unlocking cycle for tokens held by investors and team members. A total of 2.38 billion WLD, valued at approximately $5.545 billion, will be released gradually over the next four years, with around 1.63 million tokens unlocked daily. Worldcoin (WLD) (7/24) 23.8 […]
A Worldcoin spokesperson told Cointelegraph that people covered by their policies are prohibited from disclosing confidential information relevant to WLD purchasing decisions.
The cryptocurrency Worldcoin (WLD) has seen a dramatic price increase, surging 75% over the past five days, with a significant 38% increase in the last 24 hours. According to DeFi^2 (@DefiSquared), the number one ranked trader on Bybit and a top 10 wallet on DeBank, this price movement is not merely speculative but indicative of potential market manipulation, timed with upcoming insider unlocks. The Worldcoin Cash Grab In a post shared via X, the top trader DeFi^2 has brought to light concerning details about Worldcoin’s market activities ahead of its planned insider token unlocks. With only 2.7% of WLDs total supply currently in circulation, the smallest percentage in the industry at unlock time, the concerns center around how the Worldcoin team has managed to maintain a staggering $30 billion fully diluted valuation (FDV). “Worldcoin is projected to commence insider unlocks in 7 days at one of the lowest floats ever recorded in the industry,” DeFi^2 wrote. “This research piece brings to light exactly how the team is controlling the price to still carry a $30 billion fully diluted valuation as insider unlocks begin, while falsely claiming to have no involvement.” Related Reading: Worldcoin Sentiment Improves, But March Highs Remain A Distant Dream Worldcoin was initially launched with a 1.4% circulating supply, or 140 million WLD. Out of this, 100 million tokens were assigned to market makers with call options that allowed them to buy back a significant number of tokens at a preset price of slightly over $2. This was strategically aimed at dampening any sudden price spikes. On “The Scoop Podcast,” Alex Blania, CEO of Worldcoin, openly discussed these tactics, stating they were crucial in preventing the price from soaring, which could potentially disrupt the market. “The intent to avoid the price spiking to $10,” Blania explained, “is paramount, as such an event would be horrific for our strategic market positioning.” However, by December 16th, the situation dramatically shifted when Worldcoin opted not to renew its market maker contract. This led to the removal of the call option and a concurrent reduction in WLDs circulation by an additional 25 million tokens. The immediate aftermath saw the price double within hours, a scenario Blania had previously indicated the company intended to avoid. During the Token2049 conference in Dubai, Blania reiterated that Worldcoin does not manipulate market prices, attributing fluctuations to natural market forces. This statement starkly contradicts the evident effects of the teams strategic decisions regarding tokenomics and market maker contracts. Related Reading: Heres Why The Worldcoin (WLD) Price Surged Over 15% In One Day To Reach $3 DeFi^2 emphasizes, “An 11-figure valuation is only possible due to the team’s deliberate design of tokenomics, and the daily price movements have often been influenced by well-timed announcements and policy adjustments made by the team.” Market Manipulation The Worldcoin framework, which was ostensibly designed to facilitate universal basic income (UBI), seems to be primarily benefiting insiders rather than the intended recipients. Current projections show that nearly a billion tokens are slated for emission to team members and venture capitalists within the next year, whereas only about 600 million tokens are expected to be distributed to UBI recipients in the same timeframe. This means that within a year, insider emitted WLD is expected to make up over 60% of the entire circulating supply of Worldcoin. 60% is a wild proportion- it basically means the majority of the ecosystem purely exists for VCs to dump. This seems to directly counter the justification that the float is being left low right now to benefit UBI recipients, the trader writes. Orb Operators, tasked with collecting biometric data, have also been a significant source of circulating supply, with some reportedly sending upwards of 20,000 WLD per week to exchanges like Binance. This situation became particularly pronounced when WLDs price spiked to $12 in March, with substantial quantities of WLD being moved to exchanges every few days. Retail investors, particularly in Korea, where 25% of the circulating supply is held, are increasingly vulnerable. Many of these investors are likely unaware of the intricate dynamics at play, holding tokens at nearly $30 billion FDV, a valuation propped up by the positive news released strategically a week before the unlocks. It’s likely no coincidence that Worldcoin waited until 1 week before unlocks to release positive news. Despite being only a small change to unlock selling pressure, the news has proven incredibly effective so far in coercing retail to unwittingly provide higher prices and more liquidity for insiders to exit in a week’s time. Worse still, it appears likely (but not proven) that someone from the team or VCs used insider information to frontrun buying the news before it was even publicly announced, @DefiSquared claims. He concludes with a stern warning: “This piece is intended to shed light on a project that appears to be intentionally propping up a token price that should be lower, and many of the reasons outlined are why I intend to be short WLD over the months following the start of unlocks.” At press time, WLD traded at $3.22. Featured image from Kucoin, chart from TradingView.com
Worldcoin faces allegations of price manipulation after delaying unlocking 80% of its native tokens.
Notable update has emerged from Sam Altman’s co-founding company, Worldcoin, as they have decided to postpone the redemption date for WLD Grant Reservations. The project’s native cryptocurrency, WLD, shot up in price today, surpassing the $2 mark, thanks in large part to this update. The Worldcoin Foundation recently announced a
Worldcoin (WLD) is currently enjoying an upward trend, with the crypto token surging by over 15% in a single day to reach $3. This development is thanks to the recent strides that the Worldcoin team has made to achieve the goals of the crypto project. Expansion Of Worldcoins World ID Provides Bullish Momentum The Worldcoin team recently announced that World ID, the projects global identity network, would be making an entry into Ecuador. Locals in the country can get verified using the Orb to join Worldcoins identity network. The team mentioned that verifications will be available at six locations across two Ecuadorian cities. Related Reading: Dogecoin Enters Final Stage Of Consolidation, Analyst Predicts 6,150% Rally To $7.5 Verification will begin at the port city of Guayaquil on June 26, while the other verification locations will be set up in the Capital city of Quito on June 27. Worldcoin stated that anyone 18 years or older who is interested in joining the over 5 million people participating in the Worldcoin network can get Orb verified in either of those two cities. This development undoubtedly provides bullish momentum for the Worldcoin token, considering the role the crypto token plays in achieving the teams vision of providing a global identity for everyone. Worldcoins entry into Ecuador is also a much-needed boost, given the regulatory scrutiny and negative publicity that has overwhelmed Worldcoins ecosystem. Worldcoin also noted that its upcoming launch in Ecuador comes at a time when the project is set to expand further in Argentina through direct investments in the country and the launch of more Orb verification locations. As part of the investment, Worldcoin contributors such as Tools for Humanity (TFH) will sponsor professional opportunities for at least 50 developers, operations specialists, software engineers, data analysts, and other professionals in the country. Additionally, Worldcoin announced that 50 World ID orb verification locations, including two experience stores, will be set up in over ten cities across Argentina. These locations are expected to open sometime during the summer in the country. More Good News For Worldcoin Kenyas local media, The Star, recently reported that the government has dropped its investigation into Worldcoin. Worldcoin had earlier had to suspend its World ID verifications in the country following allegations of unlawful collection and transfer of personal data belonging to locals. Related Reading: Bitcoin Crash Below $66,000 Stuns Market, Why A Drop To $54,930 Is Possible However, upon investigating and reviewing these allegations, the countrys Directorate of Criminal Investigations (DCI) determined that they had no substance and directed that the investigation be dropped with no further action from law enforcement agencies. The Star noted that this development will likely pave the way for Worldcoin to resume its operations in Kenya. Worldcoins operations in Kenya were largely successful. Over 635,000 Kenyans are said to have downloaded the World App, although more than half of these individuals had yet to verify their identity using the Orb. Featured image created with Dall.E, chart from Tradingview.com
WLD, the native token of Sam Altman-led project Worldcoin, staged an impressive rally in the past 24 hours to hit its 3-week peak. The altcoin has surged over 21% from its intra-day low of $5.35 to a high of $6.50. Seemingly, bullish cues have aligned for WLD. The daily price
World Assets Ltd. extends loan agreements with trading firms, maintaining 10M WLD in circulation until June 2025. (Read More)
Famous crypto analyst CryptoBusy highlighted WLD, claiming the cryptocurrency is about to make a big move. In a recent X post, the analyst reports that several technical indicators indicate that WLD, a cryptocurrency created by Worldcoin and supported by advanced AI technology of OpenAI, is preparing for a potential rally. The analysis highlights the appearance […]
In a year filled with changing stories and new investor interests, one theme has risen to undeniable prominence in the crypto space: tokenized real-world assets (RWAs). Once a barely noticed niche within decentralized finance, RWAs have become one of the most exciting and rapidly growing sectors in blockchain. Year-to-date, the total value locked (TVL) in [...]
Worldcoin is a for-profit cryptocurrency project that uses iris biometrics. Developed in 2019, the digital asset has recorded varied market movements as it struggles with different regulation requirements in different countries. During the day, Worldcoin opened its price value at $1.0312, continuing its uptrend to the current reading of $1.15,
Worldcoin Foundation's subsidiary, World Assets Ltd., plans to sell WLD tokens to meet the demand for orb-verified World IDs and support the growth of the Worldcoin network. The sales will be conducted through private placements with trading firms outside the US, with measures in place to prevent resales to US individuals. This update will result in an increase in the circulating supply of WLD tokens. (Read More)
Worldcoin (WLD) could be the victim of a significant downtrend in the coming weeks. The team plans to sell as many as 1.5 million WLD tokens over the next six months, which could bring about massive selling pressure and affect the tokens price. Details About The Proposed WLD Token Sale Worldcoin revealed in a blog post that World Assets (a subsidiary of the Worldcoin Foundation) will sell between 500,000 and 1.5 million Worldcoin tokens weekly to a group of institutional trading firms outside the United States. This token sale will be done through private placements and is expected to last up to six months. Related Reading: XRP Wallets Holding At Least 1 Million Coins Nears All-Time High As Sentiment Improves Therefore, as many as 36 million WLD tokens could be sold under this arrangement. Interestingly, these tokens do not form part of the current circulating supply, as Worldcoin stated that the circulating supply of WLD will thus increase correspondingly as the token sales progress. That means Worldcoins circulating supply could see an 18.6% increase to over 229 million WLD tokens once the private sale is done. This development is undoubtedly a cause for concern for WLD holders, given the impact it could have on the crypto tokens price action. However, Worldcoin tried to downplay the effect of this token sale, noting that a weekly sale of between 500,000 and 1.5 million WLD tokens represents less than 0.1% to 0.4% of the current weekly trading volume. Meanwhile, World Assets may seek to include a 40-day lock-up period restricting the resale of WLD by trading firms, Worldcoin remarked. This could also help reduce the high volatility that could arise from an immediate sell-off by these trading firms. The Worldcoin Ecosystem WLD is the native token of Worldcoin, a project that focuses on the digital verification of humans. Users in the Worldcoin ecosystem get verified through a device called the Orb. Since launching last year, the project, co-founded by Open AIs CEO Sam Altman, has drawn criticism, with many, including Ethereums co-founder Vitalik Buterin, raising privacy and legal concerns. Related Reading: Analyst Says XRP Price Will Reach $100, But This Needs To Happen First Authorities in different countries have investigated the project as they believe its data collection method may have breached certain privacy laws. NewsBTC also recently reported that Worldcoin faces a potential fine of $1.2 million in Argentina for violating the countrys National Consumer Protection Law. Despite the regulatory scrutiny, the team is still looking to expand. In the blog post, they hinted that the proceeds from this token sale will be directed towards meeting the increasing demand for orb-verified World IDs around the world. At the time of writing, Worldcoin is trading at around $5.4, down over 6% in the last 24 hours, according to data from CoinMarketCap. WLD price falls to bearish pressure | Source: WLDUSDT on Tradingview.com Featured image from The Block, chart from Tradingview.com
In recent months, Sam Altmans open-source protocol Worldcoin (WLD) has faced increasing legal challenges as Portugal and Spain cracked down on its biometric data collection practices. Argentina has joined the list, issuing an indictment against Worldcoin after detecting allegedly abusive clauses in user contracts. Worldcoin Faces Legal Scrutiny In Buenos Aires Buenos Aires authorities have [...]
The post Worldcoin Faces $1.2 Million Fine In Argentina For Law Violations; WLDs Price Reacts appeared first on Crypto Breaking News.
Worldcoin's World App, launched in June 2023, has over 10 million users, promoting universal basic income and sparked interest in alternative wallets within the Worldcoin ecosystem. (Read More)
The Bavarian State Office for Data Protection Supervision has initiated an investigation into the Worldcoin crypto project, a new initiative that requires users to provide iris scans in exchange for a digital ID and potentially free cryptocurrency, according to Reuters. (Read More)
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