The Worldcoin (WLD) network has become a major proof-of-identity technology worldwide over the past year. The blockchain-based protocol incentivizes new users using the WLD coin and has registered over 6.6 million users globally to date.
Worldcoin Project Determined to Expand Globally
This growth is attributed to the developer community led by Sam Altman, co-founder and CEO of OpenAI. The Worldcoin network recently launched a new project on Ethereum $2,318 It aims to facilitate global adoption by transitioning from the Solana ecosystem to the Solana ecosystem.
Despite facing legal hurdles in some jurisdictions over the collection of personal data, World ID has continued to grow recently. The Worldcoin team announced that more Orbs tools will be deployed globally in the near term to speed up the registration process. This could also increase interest in the token by scanning more people’s eyes for proof of identity.
In the last seven days, the World App has registered more than 113 thousand new accounts from more than 160 countries. There are also steps taken to expand in the European region. The Worldcoin organization announced that its Orbs tools will be available in Warsaw, Poland. This will make World ID more accessible to the European market; Europe has introduced clear regulations on web3 and crypto regulations.
“Polish citizens are increasingly encountering AI-powered bots online and are mostly reporting these experiences as something negative. Innovative solutions like World ID can help distinguish between bots and humans while preserving people’s anonymity,” Worldcoin said.
In mid-July, the Worldcoin network expanded its operations in Austria and has since gained over 300,000 users. The Worldcoin network also made a significant push into the Asian market by partnering with the Malaysian government’s applied research and development arm, bringing digital proof of identity to the country.
Mid-Term Impact on WLD Price
Over the past six months, the WLD price has fallen by more than 85%, trading at $1.46 on Wednesday (September 18). With a fully diluted market cap of around $14.5 billion and an average daily trading volume of around $175 million, the altcoin is signaling a potential reversal in the near term.
On the weekly timeframe of WLD, the Relative Strength Index has started to form a bullish divergence in the falling market. Also, the altcoin macro is about to break out of the falling logarithmic trend.
Worldcoin’s rapidly growing user base and global expansion strategies demonstrate the project’s future potential. However, volatility in cryptocurrency markets and regulatory hurdles could have an impact on WLD’s price performance. Experts predict that with increasing adoption of the technology, Worldcoin could grow both its user base and market value.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
