- WorldCoin has seen massive growth in recent weeks, with the number of World ID verifications increasing by more than 100% and the number of weekly active World App users increasing by more than 3 times.
- WorldCoin’s strategy is to expand internationally and make its iris-scanning and identity verification technology available to other organizations.
- $WLD, the WorldCoin token, rallied massively on launch but then entered a correction phase, falling below the key support at $2.07.
- The cryptocurrency is currently retesting this resistance and may be poised for a breakout very soon.
- If $WLD is unable to break above the $2.07 zone, the cryptocurrency may fall straight down to $1.85
WorldCoin continues to make waves since its launch.
Despite being criticized endlessly because of privacy concerns, key metrics like the number of signups, app downloads, and several others continue to soar.
The $WLD token $WLD also went through a period of massive volatility over the last week, and WorldCoin may indeed be the next big thing in crypto.
WorldCoin Metrics Show Increasing Adoption
According to a recent blog post from the WorldCoin Foundation, newly available data shows that the WorldCoin Foundation is undergoing a period of massive growth.
According to the WorldCoin Foundation, global World ID verifications increased by more than 100% in the week after the initial launch as additional Orbs were sent out to specific places around the world.
The blog post noted that between January and July, the number of World ID sign-ups went all the way from one million to two million in less than half the time it took to initially reach the first million.
However, this isn’t all. World App (the wallet built for the $WLD network) also registered massive worldwide activity.
The weekly active World App users also increased by more than three times, registering more than ten times an increase in weekly account creations in the seven days following launch.
WorldCoin’s Pump Strategy
According to the WorldCoin Foundation, more users will be added internationally as operations are expanded. It also wants to make its iris-scanning and identity-verification technology available to other organizations.
Orbs, the shiny metallic ball that $WLD uses to scan users’ irises and generate their global IDs, have also begun scanning people at sign-up locations all across the world.
After a fundraising round in May, venture capitalists including Blockchain Capital, a16z crypto, Bain Capital Crypto, and Distributed Global contributed a total of $115 million to WorldCoin.
$WLD aims to continue expanding its activities in Europe, Latin America, Africa, and “all the parts of the world that will accept us.” according to Ricardo Macieira, WorldCoin’s general manager for Europe.
WorldCoin’s strategy has the potential to create a massive price increase for $WLD, the WorldCoin token.
$WLD Price Analysis
$WLD rallied massively on launch and even hit the $7 zone. However, right after that, the cryptocurrency entered a correction phase and even fell below the key support at $2.07.
However, the cryptocurrency is currently retesting this resistance and may be poised for a breakout very soon.
If a break and close above $2.07 does occur, $WLD may be ready to rally again by 20%, to the $2.45 zone.
The RSI on the cryptocurrency’s hourly chart shows neutral conditions. This opens the door to several possible scenarios, including the possible break above $2.07.
However, if $WLD is unable to break above the $2.07 zone, the cryptocurrency may fall straight down to $1.85, depending on how well the Bulls can push, or how well the bears can resist.
In all, the $2.07 zone is a key level to keep an eye out for, and may be a good entry point into the $WLD market.
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