Worldcoin (WLD) is a fresh form of digital currency that incorporates digital identity, capturing global interest with its current price standing at $3.94. Surging nearly 60% in the past 24 hours, people worldwide are intrigued about its future value.
In this analysis, we’ll delve into the possibilities and offer predictions regarding where the price of Worldcoin might head. Let’s take a closer look at our insights on the WLD Price Prediction.
The Worldcoin project has a big goal: to build a huge global network for both identity and money that’s available to everyone as a public service. At the heart of this project is World ID, a worldwide identity network that focuses on keeping things private. With World ID, people can show who they are online (called “Proof of Personhood”) while making sure their personal information stays safe using something called zero-knowledge proofs.
Worldcoin Ecosystem and Governance
To engage with the Worldcoin system, individuals must install the World App, the primary wallet app facilitating the creation of a World ID. Verification of this World ID involves the use of a physical imaging device called the Orb, typically overseen by local businesses known as Orb Operators. The Orb, equipped with multispectral sensors, validates identity, ensuring privacy as all images are promptly deleted on the device unless explicit consent for Data Custody is given.
Those with Orb-verified World IDs become eligible for regular grants of free WLD tokens. Notably, WLD tokens are not accessible in the United States. Functioning as a utility token with governance features, the WLD token empowers users to influence the protocol’s future. Governance mechanisms include the traditional “one-token-one-vote” and, with the introduction of World ID, the potential for “one-person-one-vote” systems, allowing innovative governance approaches.
Following the launch, the Worldcoin Foundation plans to seek community input on the interaction between World ID and the WLD token in the governance model. Community participation will be pivotal in shaping the token’s utility, paving the way for diverse use cases such as actions within the World App, transactions, or endorsement of specific initiatives.
Operating on the Ethereum network as an ERC-20 token, the WLD token’s transactions predominantly take place on the Optimism network, where user grants are received on the Optimism Mainnet. This framework anticipates a significant portion of WLD transactions occurring seamlessly on the Optimism network.
Worldcoin Price and Market Overview
As of the latest data, Worldcoin is priced at $3.94, exhibiting a substantial trading volume of $3.07 billion in the past 24 hours. The market capitalization is currently valued at $406.80 million, with Worldcoin commanding a market dominance of 0.03%. Noteworthy is the remarkable 60% surge in WLD’s price over the last day.
WLD/USD Daily Chart- TradingView
On December 16, 2023, Worldcoin reached its pinnacle at $4.46, marking its all-time high. While the lowest recorded price for Worldcoin was $0.00, the post-all-time-high lowest settled at $3.66 (cycle low). The highest observed price since the last cycle low was $4.11 (cycle high). Presently, sentiment analysis points towards a bullish outlook for Worldcoin’s price prediction, with the Fear & Greed Index indicating a value of 73, corresponding to “Greed.”
In terms of token supply, the circulating WLD tokens stand at 103.30 million out of a maximum supply of 10.00 billion WLD. Within the Ethereum (ERC20) Tokens sector, Worldcoin holds the 40th position in market capitalization. This snapshot offers a comprehensive overview of Worldcoin’s current standing in the market.
Worldcoin (WLD) Price Surge: Catalysts and Developments
The recent surge in Worldcoin (WLD) price, witnessing a remarkable 60% increase in the last 24 hours, aligns with significant updates to the Worldcoin protocol. This surge follows the announcement of a major project upgrade, accompanied by new integrations with prominent platforms.
Worldcoin has strategically broadened its reach to platforms including Reddit, Telegram, Minecraft, Shopify, and Mercado Libre. The expansion to these diverse online platforms indicates a growing adoption and utilization of Worldcoin, potentially contributing to the substantial spike in its value.
The focal point of this surge is the project’s latest initiative, termed “World ID 2.0.” Positioned as an advanced and more potent iteration of the digital passport for verifying human identity, it introduces exciting app integrations and a host of new features. Described as a “humanness” digital passport, this upgrade aims to offer users a robust and privacy-preserving tool for verifying their identity in the digital realm. This confluence of developments provides insights into the driving forces behind the recent surge in Worldcoin’s price.
Worldcoin (WLD) Bullish Trends and Price Analysis
The recent performance of Worldcoin (WLD) paints a bullish picture, with 16 positive days in the last 30 days, translating to a significant 53% surge. Currently trading near its cycle high, the cryptocurrency reflects positive momentum and heightened investor confidence.
One notable factor contributing to this optimism is WLD’s substantial liquidity, evident from its considerable market capitalization. With less than 1% of the total supply currently in circulation, there exists potential for upward price pressure.
This constrained circulating supply, coupled with sustained positive market sentiment and proximity to the cycle high, sets the stage for a potential further upward movement in WLD’s price.
Looking ahead, investors may anticipate price retracements to around $3.496 and $3.222, representing 51% and 64% of the range observed on December 16. In certain scenarios, a decline to the 70% level at $3.053 might be observed.
Regardless of the direction, reaching these key levels could trigger a swift price increase, aiming to revisit the highest point at $4.580. If successfully surpassed, it could then challenge the all-time high at $5.293 and potentially reach new peaks at $6.51.
This prospective trajectory implies a substantial 115% increase from the lowest point at 70.5%, equating to $3.058. Investors keen on Worldcoin’s movements are poised for an intriguing period with potential for notable price fluctuations.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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