Journalist
Posted:
- Worldcoin has suspended its Orb verification program in India, Brazil and France.
- The price of WLD recently reached an all-time high.
World currency [WLD]the crypto project co-founded by OpenAI CEO Sam Altman has retired its controversial Orb authentication system in three major markets: India, Brazil and France.
This sudden decline comes just months after the project launched the helmet-shaped eyeball scanning device in these countries.
In a rack Speaking to TechCrunch, Tools for Humanity, the foundation overseeing Worldcoin’s development, claims the suspension is due to the fact that the Orbs are only offered on these markets for a “limited time.”
This move comes a week after the project announced the launch of “World ID 2.0,” – an upgrade to the protocol – and integrations with other platforms including Reddit, Telegram, Minecraft, Shopify and Mercado Libre.
WLD’s recent rally to an all-time high
On December 17, WLD’s price hit an all-time high of $4.70, according to data from CoinMarketCap. An on-chain review of the token showed that demand for WLD rose to its highest level in four months a day earlier.
AMBCrypto found that on December 16, the daily count of active addresses that completed at least one transaction with WLD totaled 766 addresses, a 215% increase from the 76 addresses recorded the day before.
Likewise, there was a surge in demand for new products as there was a growth in the number of new addresses created to trade WLD that day.
According to data from Santimentthe number of new WLD addresses on that day was 334, an increase of 363% from the previous day’s 76 new addresses.
Source: Santiment
WLD whales were not sidelined as they also completed a large number of transactions with the altcoin.
According to Santiment, the number of WLD whale transactions over $100,000 totaled 73 on December 16. This was the second highest number of whale transactions in a single day since its launch.
In terms of whale transactions above $1 million, there were 21 transactions that day, the most since August.
Source: Santiment
Realistic or not, here is WLD’s market cap in ETH terms
When the altcoin held steady at $4.70 on December 17, the daily profit-to-loss transaction volume ratio rose to a 30-day high. On that day, for every WLD trade that ended in a loss, 5.36 trades returned a profit.
WLD is currently trading at $3.74 and has lost 23% of its value since its December 17 high, CoinMarketCap data shows.