Worldcoin (WLD) is a new kind of digital money that also involves digital identity. People all around the world are interested in it because its price is currently $3.94, and it has gone up by almost 60% in the last 24 hours. Many are wondering what might happen to its value in the future. In this analysis, we’ll explore and make predictions about where Worldcoin price might go. Let’s check out our thoughts on the WLD Price Prediction.
The Worldcoin project aims to create a massive global network for both identity and finance that is accessible to everyone as a public service. This is centered around World ID, a privacy-focused worldwide identity network. World ID allows users to prove their identity online (“Proof of Personhood”) while safeguarding their privacy through a method called zero-knowledge proofs.
To participate in the Worldcoin system, people need to download the World App, which is the initial wallet app supporting the creation of a World ID. To get their World ID verified, individuals use a physical imaging device called the Orb. Orbs are usually managed by local businesses known as Orb Operators. The Orb employs multispectral sensors to confirm identity, and all images are immediately deleted on the device by default unless explicit consent is given for Data Custody.
People with Orb-verified World IDs are eligible to receive regular grants of free WLD tokens. However, it’s important to note that WLD tokens are not available in the United States. The WLD token is designed as a utility token with governance features, allowing users to have a say in the future of the protocol. Besides the traditional “one-token-one-vote” governance, the introduction of World ID opens the door to “one-person-one-vote” mechanisms, and both can be combined for innovative governance approaches.
After the launch, the Worldcoin Foundation will seek input from the community on how World ID and the WLD token should interact in the governance model. The community will play a significant role in determining the token’s utility, and various use cases may emerge, such as using WLD for actions in the World App, making payments, or expressing support for specific initiatives.
The WLD token operates on the Ethereum network as an ERC-20 token, and user grants will be received on the Optimism Mainnet. Consequently, most WLD transactions are expected to occur on the Optimism network.
How has the WLD price moved in recent days?
As of now, the price of Worldcoin is $3.94, and it has seen a trading volume of $3.07 billion in the last 24 hours. The market capitalization stands at $406.80 million, and Worldcoin holds a market dominance of 0.03%. Over the past day, the price of WLD has increased by almost 60%.
Worldcoin achieved its highest price on December 16, 2023, reaching an all-time high of $4.46. The lowest recorded price for Worldcoin was $0.00, but since its all-time high, the lowest price was $3.66 (cycle low). The highest price observed since the last cycle low was $4.11 (cycle high). The current sentiment for Worldcoin’s price prediction is bullish, and the Fear & Greed Index is indicating a value of 73, which corresponds to “Greed.”
As for the circulating supply, there are currently 103.30 million WLD tokens out of a maximum supply of 10.00 billion WLD. In the Ethereum (ERC20) Tokens sector, Worldcoin holds the 40th position in terms of market capitalization.
Why is WLD price up?
Worldcoin (WLD) has experienced a remarkable surge, with its value increasing by nearly 60% over the past 24 hours. This surge coincides with the announcement of a major update to the Worldcoin protocol, along with new integrations with various platforms.
Notably, Worldcoin has expanded its presence to platforms such as Reddit, Telegram, Minecraft, Shopify, and Mercado Libre. These integrations suggest a broader adoption and utilization of Worldcoin across diverse online platforms, potentially contributing to the recent significant increase in its value.
The project, known as “World ID 2.0,” has characterized the upgrade as an enhanced and more potent version of the digital passport for verifying human identity. Described as a “humanness” digital passport, it now includes exciting app integrations and a range of new features. This upgrade aims to provide users with a more robust and privacy-preserving tool for verifying their identity in the digital realm.
How high will the WLD price go?
The recent performance of WLD indicates a bullish trend, with 16 green days in the last 30 days, constituting a substantial 53% increase. The cryptocurrency is currently trading near its cycle high, suggesting positive momentum and investor confidence.
Moreover, WLD exhibits high liquidity, evident from its considerable market capitalization. The fact that less than 1% of the total supply is currently in circulation could further contribute to upward price pressure.
This limited circulating supply, coupled with sustained positive market sentiment and trading near the cycle high, creates a scenario where the WLD price could potentially experience further upward movement.
Looking ahead, investors might see the price go back to around $3.496 and $3.222. These numbers represent 51% and 64% of the range on December 16. In some situations, it could even go down to the 70% level at $3.053.
Whichever way it goes, after reaching these important levels, there could be a quick increase in price trying to reach the highest point at $4.580 again. If it successfully goes past this point, it could then challenge the highest price ever at $5.293 and eventually reach new highs at $6.51.
This potential move would mean a 115% increase from the lowest point at 70.5%, which is $3.058.
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