- Worldcoin value drops to a seven-day low, trading at $6.442.
- Worldcoin user base hits 10 million despite the token’s price decline.
- TFH’s World ID platform enhances privacy with new iris scan deletion feature.
The Worldcoin
According to the most recent data, WLD’s trading price is $6.442, which represents a decrease of 5.58% from its highest value of the day. This price decline is in stark contrast to the increasing number of users for Worldcoin, which has now reached a user base of 10 million through its World App wallet.
Rapid Growth Despite Market Hurdles
On April 11, 2024, TFH acknowledged the significant achievement of acquiring 10 million users for its digital identity and cryptocurrency initiative, which is under the leadership of Sam Altman, the CEO of OpenAI. Although there is a surge in registrations for the World App, with close to 5 million people signing up for the World ID platform, the price of Worldcoin has not reflected this upward trajectory. Consequently, the persistent downward trend in the market is causing worry regarding the potential future performance of the cryptocurrency.
Tiago Sada, the Product Chief at TFH, conveyed his contentment regarding the achievement, highlighting its significance that extends beyond just statistical figures. This mirrors the expansive outlook of Worldcoin, which seeks to merge the expansion of its user base with substantial technological advancements.
In a blog entry, Tiago Sada remarked:
“We’re of course thrilled about the milestone, but even more so about the real world impact it represents.”
Worldcoin has not only seen an increase in its user base but has also rolled out new functionalities that bolster the protection of personal information and enhance the accuracy of age verification methods. On April 9, the firm unveiled significant enhancements to their World ID platform, including the option to erase iris scans, which irreversibly revokes a World ID’s verification status.
This update is in line with the escalating call for greater privacy and security measures in the realm of digital identity. Additionally, implementing face-to-face age verification procedures is expected to augment the trustworthiness of age-related information within the World ID ecosystem.
WLD/USD Price Analysis
An examination of the 4-hour trading chart for the WLD/USD currency pair reveals a downward trend, as evidenced by the MACD indicator, which is at 0.147 in the negative territory. Despite the bearish outlook, there are indications that this decline may be short-lived. The MACD line is positioned just above the signal line and is on an upward trajectory, suggesting the possibility of an upcoming bullish reversal.
Moreover, the bars of the histogram are situated beneath the zero level, which corroborates the prevailing downtrend sentiment. Yet, the diminishing size of these bars hints at a reduction in the downward momentum, indicating a potential pivot to an uptrend shortly. In addition, the Relative Strength Index (RSI) is at 42.86, which places it within the neutral territory.
This suggests an absence of a dominant trend in the market at present. The RSI’s position in the neutral range, along with its ascent, implies that there could be a window for purchasers to exert influence on the market, possibly leading to a trend reversal in favor of the bulls. The RSI’s upward climb past the signal line further reinforces the prospect of an impending bullish transition for the WLD/USD currency pair.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
