Worldcoin (WLD), the brainchild of OpenAI CEO Sam Altman, has experienced a significant level of positive traction over the past month. Notably, Worldcoin gained more than 50% in mid-December, reaching an all-time high of $4.6. Although the token quickly fell from these highs and was trading at $3.35 on December 25, it appears that WLD is gaining momentum for another bullish breakout.
The launch in Singapore stimulates interest in Worldcoin, among other things
According to data from CoinMarketCapWorldcoin is up 9.68% over the past seven days, indicating a steady increase in investor buying pressure in the WLD market.
Using data from IntoTheBlock, popular crypto analyst Ali Martinez has provided further insight into this bullish trend. On December 30, he has shared via Interestingly enough, this price increase and network growth happened a few days after Worldco announced its expansion into the crypto-friendly country of Singapore.
#WorldCurrency | The number of #WLD whales number between 10,000 and 100,000 $WLD is up 16.33% in 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 country, allowing interested users to undergo the World ID verification process and join the growing network.
Outside of Singapore, Worldcoin also shared that it has registered an increased presence in several countries over the past month. These include Spain, Germany, Chile and Japan. Notably, in Argentina, the crypto project registered a national record of more than 10,000 World ID verifications in a single day. Apparently, these multiple moves seem to have increased investor confidence in Worldcoin, as indicated in the price action mentioned above.
WLD price forecast
Based on the recent developments surrounding Worldcoin, the token appears poised for a major adoption boost, which could translate into a price increase in the coming weeks. Apart from the expansion into new countries, the launch of World ID 2.0 in mid-December, which introduced integrations with several apps such as Reddit, Shopify and Telegram, is also seen as a positive development by the project’s growing number of users.
Interestingly, Martinez predicts that WLD could soon see an 80% rally based on chart indicators alone. If this projection turns out to be true, the altcoin could reach as high as $6.30.
However, despite all these indications, it should be noted that Worldcoin is still under heavy scrutiny in some countries due to privacy concerns regarding user data.
There have been Worldcoin operations actively suspended in Kenya and are below research in Germany and the United Kingdom. In fact, the crypto project recently shut down its orb verification service in Brazil, France and India, although it cited “limited time access” on the screening orbs offered in these markets.
At the time of writing, WLD is trading around $3.73 with a gain of 3.90% on the last day. At the same time, 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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