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This week’s volatility in the Cryptocurrency market caused some tokens to suffer higher variations than the rest of the currencies. Among them, the changes in the price of World (WLD) stand out, which was close to exceeding $4 before declining sharply.
It should be noted that this currency is one of the most dramatic in terms of volatility due to the problematic relationship with regulators. The World Network protocol (formerly Worldcoin) is one of the most controversial in the world of cryptocurrencies. The latter is linked to its daring technology to obtain users’ biometric data.
The fact that this Sam Altman project collects data from people by scanning their retinas raises concerns among regulators. Hence, Worldcoin faces numerous investigations around the world. From South America to Hong Kong, regulators are expressing the same concerns regarding the security of people’s private data.
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As you might expect, all this fuss has consequences for the price of World’s WLD coin. In fact, when the problems began, the token was valued at almost $12 per unit. Since then, it has struggled to recover part of the lost space. At the time of writing, WLD is trading for $2.93 per coin, according to CoinMarketCap.
WLD price struggles to establish support above $3. Source: CoinMarketCap
What’s in store for WLD price next year?
Facing regulators from different countries around the world is no small feat, and Worldcoin has proven it. Since the token reached all-time highs of $11.71 in March this year, its decline process has been painful for investors.
Currently, the coin price is 77.34% below that ATH and most analysts are skeptical about a complete recovery. Simply put, as long as World maintains complicated relationships with regulators, hopes for an acceptable recovery of its currency are remote.
The management of the firm behind the project expresses its complete intention to collaborate with the authorities. In addition, they highlight that their technology (World ID) is completely safe for the privacy of the people who generate their digital ID. According to the firm, once the ID is generated, people’s data is not stored in any company database.
The intent of this is to create the ability to demonstrate that users are human when accessing the Internet. This combats the danger posed by artificial intelligence bots. In any case, the price of WLD still does not reflect the positive of this project due to problems with regulators.
Unless World improves its relations with regulators, a new ATH cannot be expected from WLD in 2025. However, this does not mean that it cannot generate good returns. For example, since the beginning of September the currency’s performance is +131% despite this week’s 23% drop.
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