In this work, we present you the most important events of the week for the digital identity project, Worldcoin and its utility token WLD. Although problems continue for the protocol, its directive continues with expansion throughout the world.
The persistence of the project directive seems to be already having an effect among investors, given that the price of the currency improves considerably. Along with the advance of Bitcoin and the improvement of macroeconomic conditions, the price of WLD has advanced in recent days. Despite this, as will be seen below, the price is still very far from its March highs.
On the other hand, we should not lose sight of the fact that bad news was not absent in recent days either. The company behind the project, Tools for Humanity (TFH), was fined by South Korean authorities. This fine adds to the numerous obstacles the protocol faces with regulators around the world.
The most important Worldcoin events of the week
Over the past two weeks, the positive developments related to Worldcoin outweigh the negative ones. The expansion of the project to all technological and geographical corners is considerable. In terms of technology, the previous weekly summary highlighted the expansion into the Solana network. Likewise, the adaptation of World ID technology to Poland was reviewed.
For this week, the good news continued with the establishment of the project towards three new countries. In this way, the firm has already begun to operate properly in Poland, Guatemala and Malaysia. As you can see, these are points from different places on the planet.
The reach of the project around the world allows it to consolidate itself as one of the best known in the entire crypto sector. In addition, it remains one of the most popular, since it offers tokens to people in exchange for being part of its biometric verification system.
As already said, the significant amount of positive news does not exclude the fact that there were also negative points this week. These include the fine by the South Korean data protection authorities against TFH. As reported by CriptoTendencia, the fine was equivalent to about $860,000 dollars.
The set of events that affected Worldcoin this week caused its token to perform more positively than negatively.
Worldcoin (WLD) price recovered noticeably this week. Source: CoinMarketCap
The Impact of Weekly Dynamics on WLD Price
As you might expect, all of this dynamics had a direct impact on the price of the Worldcoin coin, WLD. The token once again conquered the $2 per coin barrier. This is a key historical barrier that many investors see as the minimum floor for this token.
For months, the currency was below $2, suggesting that investors’ desire to place capital in it was almost zero. However, this week’s news caused a noticeable improvement in WLD. In that sense, during the last 7 days the token shows a performance of +32.65%, according to data from CoinMarketCap.
Although this performance is notably positive, the currency is still a long way from its all-time highs reached in March of this year. Thus, from its peaks of $11.71, the coin is now 82.19% away. Although that recovery is significant, until Worldcoin overcomes its problems with regulators, it will have no chance of thinking about new all-time highs.
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