Following the rebranding from Worldcoin to World, the token’s price has fallen by ~4% in the last 24 hours. Despite this short-term decline, crucial updates such as the unveiling of Orb 2.0 and the release of the Worldchain Layer-2 blockchain suggest that WLD could position itself for a strong bullish reversal in the near future.
With uncertainty increasing in the broader crypto market, is now the time to hold WLD tokens? Could the Worldchain update act as a catalyst for future price increases of this promising altcoin?
WLD Price Records Increased Price Volatility!
With a 24-hour trading volume of $343.011 million, Worldcoin price is down ~1%. However, the price has risen 17.56% in the past week and 53.61% in the past 30 days. This highlights a rising bullish sentiment for the altcoin in the market.
From a longer-term perspective, the WLD crypto token has formed a descending channel pattern and has been trading in it since July. furthermore, with a market capitalization of $1.220 billion, it has secured the 62nd position on the global crypto list.
What’s new in Worldcoin!
The Worldcoin is a ‘Proof-of-Humanity’ project and has reportedly been renamed World. It recently launched a Layer-2 (L2) blockchain built on the Ethereum chain. The official statement about the update was released on October 17.
In addition, with this update, 15 million users who have verified their identity by scanning their “Iris” from the “World ID” can now access this network. The network aims to improve efficiency by introducing new functionality for its users.
With a unique approach that prioritizes authenticated ‘human’ users over ‘bots’, it schedules valid and authorized user access to the space and an amount of free gas on the network.
Will WLD Price Test $3 Again This Quarter?
If the market favors bulls, Worldcoin price will break out of its channel trend pattern and retest its resistance level at $3.30. Furthermore, with the possible start of an Altcoin season, this project could move further towards a four-month high of $5,330.
On the negative side, if the new update faces any setbacks, it could potentially cause the Worldcoin price to fall towards the crucial low of $1,350 in the near future.
Curious about the future of this altcoin, read our Worldcoin (WLD) price prediction 2024 – 2030 to expose your doubts!
