After six months of bearish stagnation, the Worldcoin (WLD) price is set to rise following the global adoption of the World ID.
In the past year, the Worldcoin (WLD) network has evolved into a significant proof-of-humanity technology globally. To date, the blockchain-based protocol has registered over 6.6 million global users, with the $WLD coin serving as an incentive for new users to join the network.
The Worldcoin protocol’s tangible expansion can be attributed to the dynamic developer community, which is spearheaded by Sam Altman, the co-founder and CEO of the AI company OpenAI.
To guarantee seamless global adoption, the Worldcoin network has recently expanded its reach from the Ethereum (ETH) ecosystem to the Solana (SOL) ecosystem.
The Worldcoin Project is committed to expanding globally
World ID has experienced exponential growth in recent years despite the regulatory obstacles encountered in certain jurisdictions when utilizing the Orbs tool to collect personal data. The Worldcoin team announced earlier today that additional Orbs tools will be distributed globally to expedite the registration process shortly.
The World App has registered over 113,000 new accounts from over 160 countries in the past seven days.
The Worldcoin organization has recently announced that its Orbs tools will be accessible in Warsaw, Poland, as part of its ongoing efforts to broaden its market reach legally. Consequently, World ID will be more accessible in the European market, which has already established explicit regulations regarding web3 and crypto.
“…Polish citizens are not only encountering AI-powered bots more frequently online, but they are also reporting these as negative experiences more frequently,” Worldcoin observed that innovative solutions such as World ID can assist in the differentiation between humans and bots online while maintaining the anonymity of individuals.
As reported in mid-July, the Worldcoin network expanded its operations in Austria. Subsequently, the Worldcoin network has acquired over 300,000 users.
The Worldcoin network has also made a significant entry into the Asian market by collaborating with the Malaysian government’s applied research and development arm to introduce digital proof of humanness to the nation.
The Worldcoin project is anticipated to be instrumental in the widespread adoption of web3 protocols worldwide shortly.
Additionally, the collected data is stored in a cryptographic database, and the users have ultimate authority over it.
Impact on the Price of WLD in the Midterm
On Wednesday, September 18, the price of WLD plummeted by over 85 percent over the past six months, trading at approximately $1.46. The altcoin, which has a daily average traded volume of roughly $175 million and a fully diluted valuation of approximately $14.5 billion, has indicated a potential reversal in the near term.
The Relative Strength Index has been exhibiting a bullish divergence on a declining market in WLD’s weekly time frame. Furthermore, the altcoin is on the brink of emerging from a macro-falling logarithmic trend.