Worldcoin price has been trading higher for the past few days after its launch on Monday. The digital asset has over $171 billion in trading volume occurring within the past 24 hours, a 7.81% increase. The cryptocurrency boasts a market cap of $252 million, positioning it as the 118th largest cryptocurrency. At the time of writing, WLD was trading 1.53% higher at $2.250.
Worldcoin Explained
Worldcoin and its native WLD token have been making headlines worldwide over the past week, capturing the attention of crypto investors. Worldcoin is among the newest projects in the crypto market, launched on Monday by its founders Alex Blania and Sam Altman, the co-founder, and CEO of OpenAI, the company behind the famous ChatGPT.
Worldcoin, a crypto and digital ID project was launched on Monday after years of development. The project is aimed at building the largest identity and financial networks as a public utility, giving ownership to everyone. The project consists of privacy-preserving digital identity (World ID).
To verify their humanness, Worldcoin is inviting its users for an iris scan using a physical imaging device called the Orb, giving users unique digital identities to verify if they are human or not. The WLD token is designed as a utility token with governance properties and has been issued to its users. According to its whitepaper, Worldcoin had an initial total supply of 10 billion WLD and will remain unchanged for the next 15 years.
Worldcoin has received more than $250 million across several funding rounds from investors, including a16z, Tiger Global, Bain Capital Crypto, Blockchain Capital, and Khosla Ventures. Worldcoin has more than 2 million users so far and is now set to ramp up its eyeball-scanning operations to 35 cities across 20 countries.
Worldcoin price has more than doubled since its launch on Monday when the digital currency was trading at around $1. WLD has jumped by more than 1,400% in the past week and in the year to date. With its fast-growing popularity in the markets, the Worldcoin price is likely to continue moving higher in the immediate term.
Worldcoin Price Technical Analysis
Worldcoin price has been moving higher for the past few days but at a slower pace than the first few days after the launch. The digital asset has failed to retest the important resistance zone of $2.500 as it struggles to move higher. On the 4-hour chart, the WLD price is slightly above the 20-day and 50-day exponential moving averages, as well as the 20-day and 30-day simple moving averages. Even so, its Relative Strength Index (RSI) remains below the neutral level.
With its fast-paced popularity in the crypto market, the Worldcoin price is likely to continue moving higher. As such, a move above the important resistance at $2.50 will pave the way for further price increases to $3.00. However, a move below the psychological support at $2.00 will invalidate this bullish thesis.
WLD Price Chart
