Following the US election, the World Network token, WLD, joined the bullish trend of the broader Cryptocurrency market. However, the magnitude of its rise lagged far behind the market and its red numbers against BTC and ETH are wide.
During the last few days, especially since Tuesday, the currency intermittently recovered $2 dollars per unit. Despite this, it seems not to be able to establish itself above that mark. At the time of writing this note, the former Worldcoin token is once again trading below that price that many consider to be key.
Consequently, according to data from CoinMarketCap, the price of the token is $1.90. Meanwhile, its performance in 24 hours is -2.84% and +0.67% in a week. On the other hand, it stands out that its price is 83.41% below its historical highs of $11.71 on March 9.
Against large coins like BTC or ETH, the World Network token reflects negative numbers on all time scales. Thus, in a week against BTC it shows -7.58% and -13.51% against ETH. In that same period, it experiences -11.91% compared to DeFi.
WLD price remains relatively flat against USDT over the past week, despite the positive US election environment. Source: CoinMarketCap
What to expect from the World Network Token price?
Trump’s victory means practically nothing for the World Network token. The latter, considering that this protocol is not active within the United States for regulatory reasons. In this way, the citizens of the North American country have no impact on the market price of the currency.
Outside that country, as is widely known, this Sam Altman protocol faces numerous problems. Particularly, regulators in several countries are carrying out investigations against the firm for alleged mishandling of citizens’ personal data.
This last reality hits the project particularly acutely in the developing countries of Latin America, Africa and Asia. In these regions, some regulators accuse the firm of taking advantage of people’s social conditions to extract their data in exchange for some tokens. Of course, the company denies that this is the case.
This entire plot, which spans months, has a negative impact on the World Network token. The possibilities of resolving all the firm’s conflicts with regulators in the short term are limited. This implies that the WLD price does not look like it is heading towards a large-scale recovery beyond limited increases.
Disclaimer: This work is for informational purposes only and should under no circumstances be taken as an invitation or investment advice. Cryptocurrencies are highly volatile assets and placing capital in them can lead to total losses.
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