World

Worldcoin

Orbs

World ID

Worldcoin (WLD) is a new cryptocurrency project that was launched in July 2023 by Sam Altman, the co-founder and CEO of OpenAI and former president of Y Combinator, along with Alex Blania.&nbsp;The project aims to create a global identity and financial network as a public utility, giving ownership to everyone. 
The key feature of Worldcoin is World ID, a privacy-preserving global identity network that enables users to verify their humanness online (“Proof of Personhood”) while maintaining their privacy through zero-knowledge proofs.&nbsp;Users can create their World ID by visiting a physical imaging device called the Orb, which uses multispectral sensors to scan their eyes and ensure their uniqueness.&nbsp;The Orb images are promptly deleted on-device by default, unless the user consents to data custody. 
By creating a World ID, users are entitled to claim recurring grants of free WLD tokens, which are not available in the US.&nbsp;The WLD token is designed as a utility token with governance properties, empowering users by giving them a say over the future of the protocol.&nbsp;The WLD token can also be used for other purposes, such as paying for certain actions in World App or other wallet apps, making payments, or signaling support for certain initiatives or causes. 
The WLD token is an ERC-20 token on Ethereum, and most transactions take place on the Optimism network, a layer-2 scaling solution.&nbsp;The total supply of WLD is 10 billion tokens, of which 118.81 million are currently in circulation.&nbsp;The project has raised $25 million in seed funding from investors such as Andreessen Horowitz, Coinbase Ventures, Reid Hoffman, Naval Ravikant, and Balaji Srinivasan. 
<h3 class="wp-block-heading" id="worldcoin-price-performance-and-analysis">Worldcoin Price Performance and Analysis</h3> 
Worldcoin was launched on July 24, 2023.&nbsp;The market capitalization of Worldcoin is currently $250.89 million, ranking it at #118 among all cryptocurrencies.&nbsp;The 24-hour trading volume of Worldcoin is $63.04 million, indicating a high level of liquidity and interest in the market.&nbsp;The highest price that Worldcoin has reached so far was $3.58 on July 24, 2023. 
The price of Worldcoin has been influenced by several factors, such as the launch of the project, the distribution of free tokens to users, the media attention and publicity, the partnerships and collaborations with other entities, and the general market sentiment and trends. Some of the major events that have affected the price of Worldcoin are: 
<ul class="wp-block-list"> 
 <li>On July 24, 2023, Worldcoin was launched and listed on several exchanges, such as Binance, Coinbase Pro, Kraken, Huobi Global, and OKEx.&nbsp;The price surged to $3.58 on the first day of trading, as investors and traders rushed to buy the new token.</li> 
 <li>Worldcoin announced that it had partnered with Kenya’s Ministry of ICT to deploy Orbs in the country and distribute WLD tokens to millions of Kenyans.&nbsp;The price rose on the same day, as the news demonstrated the potential of Worldcoin to reach mass adoption in emerging markets.</li> 
 <li>The project gained more exposure and recognition from various media outlets and influencers. For example, Sam Altman appeared on CNBC’s Squawk Box to discuss Worldcoin and its vision, while Alex Blania gave an interview to The Block about the technical aspects and challenges of Worldcoin.</li> 
 <li>On August 2, 2023, Worldcoin faced some backlash and criticism from privacy advocates and regulators over its data practices and distribution model. For instance, Kenya’s Ministry of ICT announced that it had suspended Worldcoin’s activities in the country over security and data concerns, while some users reported that they had received less WLD tokens than expected or none at all.&nbsp;The price dropped from $2.51 to $2.18 on the same day, as the negative news eroded some of the confidence and trust in the project.</li> 
</ul> 
As of August 5, 2023, the price of Worldcoin has recovered slightly to $2.11, as the project has addressed some of the issues and clarified its position. For example, Worldcoin said that it would temporarily pause its services in Kenya until it resolved the matter with the authorities, and that it would open-source its design of the Orb and share its iris-scanning technology with third parties, such as governments and businesses.&nbsp;The project also said that it would work with the community on how to improve its governance and decentralization model. 
<figure class="wp-block-image size-large">
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</figure> 
<h3 class="wp-block-heading" id="worldcoin-price-prediction-and-outlook">Worldcoin Price Prediction and Outlook</h3> 
Looking ahead, the price of <a href="https://coinmarketcap.com/currencies/worldcoin-org/#Markets" target="_blank" rel="noopener nofollow" title="">Worldcoin</a> may continue to fluctuate depending on several factors, such as the development and progress of the project, the adoption and usage of the WLD token, the media coverage and public perception, the competition and innovation in the crypto space, and the overall market conditions and trends. Based on the current data and analysis, we can make some possible scenarios and predictions for the future price of Worldcoin: 
<ul class="wp-block-list"> 
 <li>Bullish scenario: If Worldcoin can successfully resume its operations in Kenya and expand to other countries, increasing its user base and distribution network, the price of WLD may rise significantly. Moreover, if Worldcoin can attract more partners and collaborators, such as governments, businesses, NGOs, and other crypto projects, the utility and demand of WLD may increase as well. Furthermore, if Worldcoin can generate more positive media attention and publicity, enhancing its reputation and credibility, the price of WLD may surge as well. In this scenario, we can expect the price of WLD to reach $5 by the end of 2023.</li> 
 <li>Neutral scenario: If Worldcoin can maintain its current status quo, resolving its issues and challenges without making any major breakthroughs or setbacks, the price of WLD may remain stable or slightly increase. In this scenario, Worldcoin may follow the general market trends and movements, depending on the supply and demand of WLD. In this scenario, we can expect the price of WLD to stay around $2.5 by the end of 2023.</li> 
 <li>Bearish scenario: If Worldcoin faces more problems and difficulties, such as legal disputes, technical failures, security breaches, or user dissatisfaction, the price of WLD may drop significantly. Moreover, if Worldcoin loses its competitive edge and innovation, falling behind other crypto projects that offer similar or better solutions, the utility and demand of WLD may decrease as well. Furthermore, if Worldcoin suffers from more negative media attention and criticism, damaging its reputation and trustworthiness, the price of WLD may plummet as well. In this scenario, we can expect the price of WLD to fall below $1 by the end of 2023.</li> 
</ul> 
Of course, these scenarios are based on assumptions and estimations, and they are not financial advice or recommendations. The actual price of Worldcoin may vary depending on various factors and events that are unpredictable and uncertain. Therefore, anyone who is interested in investing in Worldcoin should do their own research and analysis before making any decisions. Thank you for reading this article, stay tuned with <a href="https://www.cryptomesh.net" target="_blank" rel="noopener nofollow" title="">CryptoMesh</a>. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 This article does not contain any financial advice. NFA. DYOR. 
</blockquote>
The post <a href="https://cryptomesh.net/worldcoin-price-analysis-what-is-waiting-for-wld/">Worldcoin Price Analysis: What is waiting for WLD?</a> first appeared on <a href="https://cryptomesh.net">CryptoMesh</a>.

Worldcoin Price Analysis: What is waiting for WLD?

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