Worldcoin Price Prediction 2024: WLD Price Analysis
Can WLD benefit from founder Sam Altman’s OpenAI exit?
- Worldcoin’s WLD native token climbed after the OpenAI-Altman turmoil of late 2023.
- It jumped further on the news of OpenAI’s Sora launch but dropped in mid-March.
- How will WLD react to Layer-2 news?
- One price prediction says it may reach $4.29 next year.
Worldcoin, Sam Altman’s cryptocurrency venture, has fallen after surging dramatically in February.
The driving forces behind the rise were straightforward, primarily stemming from widespread excitement ignited by OpenAI’s latest creation, Sora. This AI application lets users create videos from text.
While Sora and Worldcoin operate independently, they share a common founder: Sam Altman. His reputation is amplifying investor interest in both projects, further fueling their potential growth.
The coin had a mixed March. After jumping on Sora’s news, it dropped in line with the crypto market. Now, it’s in an uptrend, but can it last?
Worldcoin’s Layer 2
Sam Altman’s Worldcoin, a proof-of-humanity project, is now gearing up to use its own Layer 2 platform to help during user onboarding. As confirmed in a recent statement, the upcoming Layer 2, dubbed World Chain, will be bolstered by Ethereum’s security measures. Furthermore, according to the same statement, verified human users will receive preferential treatment in terms of block allocation over bots, along with some complimentary gas.
While the Worldcoin Foundation is officially spearheading the launch of this new Layer 2, it’s worth noting that Tools for Humanity has predominantly developed and promoted Worldcoin.
Worldcoin Price Prediction
| Minimum WLD Price Prediction | Average WLD Price Prediction | Maximum WLD Price Prediction | |
|---|---|---|---|
| 2024 | $1.49 | $3.48 | $3.64 |
| 2025 | $3.56 | $4.00 | $4.29 |
| 2030 | $11.20 | $12.23 | $12.32 |
Worldcoin Price Prediction for 2024
If the positive momentum continues and WLD breaks above its moving averages, it could reach targets between $1.49 and $3.64 by the end of 2024, with the average price set at $3.48.
Worldcoin Price Prediction for 2025
Technical analysis suggests a potential increase for Worldcoin in 2025. The minimum WLD price expected for 2025 is $3.56, while the maximum is $4.29. On the other hand, the average forecast suggests it may reach $4.00.
Worldcoin Price Prediction for 2030
Based on technical analysis, the WLD token may reach a maximum level of $12.32 at the beginning of the next decade, while, in the worst scenario, it may go to $11.20. Meanwhile, the average expected price is $12.23.
Worldcoin Price Analysis
Worldcoin’s current technical indicators present a mixed outlook. The Relative Strength Index (RSI) at 49.0 suggests a neutral market sentiment, neither oversold nor overbought. The Stochastic Oscillator (STOCH) is at 35.41, indicating a neutral stance.
However, the Stochastic RSI, at 0.7660, signals a buying opportunity, as does the Moving Average Convergence Divergence (MACD), which is at -0.1694.
On the downside, the Average Directional Index (ADX) reads 25.74, indicating a weak trend and a looming sell-off. Meanwhile, the Williams %R and Commodity Channel Index (CCI) are neutral zones at -64.59 and -65.02, respectively.
Overall, Worldcoin’s indicators point to a mostly balanced market with some buying potential.
Short-Term Worldcoin Price Prediction
Worldcoin price prediction forecasts an increase of 6% for the next 24 hours and a significant rise of 229% for the next month, with the price expected to reach $5.52 by Sept. 13, 2024.
Despite this optimistic outlook, current technical indicators show a bearish sentiment, while the Fear & Greed Index stands at 30, indicating fear in the market.
Over the past 30 days, Worldcoin has seen 11 green days, representing 37% of the period, with a notable price volatility of 18.21%. Given these factors, the analysis suggests that now may not be the best time to buy Worldcoin.
Worldcoin Relative Strength Index (RSI): Is WLD Oversold or Undersold?
Worldcoin Price Performance Comparisons
How Do We Make a Worldcoin Price Prediction?
Our price prediction for Worldcoin combines technical analysis tools and recognizes the logic in price cycles. We’ve primarily used the Elliott Wave Principle, which describes these price movements in their motive and correction phases.
Applied to the Worldcoin-specific time-frames and its price history, we can come up with the targets, although the further we project, the less accurate they are because they depend on what happens in between.
Best Days and Months to Buy Worldcoin
We looked at Worldcoin’s price history and found the times when the price was at its lowest across certain days, months, quarters, and even weeks in the year, suggesting the best times to buy WLD.
| Day of the Week | Saturday |
| Week | 7 |
| Month | February |
| Quarter | First |
Worldcoin Advantages and Disadvantages
CCN’s Senior Research Analyst Toghrul Aliyev made a deep dive into Worldcoin and found the following advantages and disadvantages
Advantages of Worldcoin
- Preventing AI Impersonation and Sybil Attacks: Worldcoin addresses potential future problems where AI may become indistinguishable from humans. Biometric verification can effectively distinguish real humans from AI and solve the challenges of AI impersonation and even Sybil attacks.
- Zero-Knowledge Proofs: Worldcoin utilizes zero-knowledge proofs to ensure user privacy while proving a unique identity.
- Facilitating UBI Distribution: AI-funded Universal Basic Income (UBI) is a concept that uses revenue generated from AI technologies to provide UBI. Worldcoin aims to provide financial support globally through its UBI initiative by distributing WLD tokens to individuals. This approach could serve as a reliable method for distributing UBI and contribute to efforts to reduce economic inequality by ensuring a steady income for individuals worldwide.
- Commitment to Privacy: Worldcoin takes continuous steps to enhance user privacy. For example, they recently introduced a feature allowing users to delete their iris codes after verification, which was not available before. Additionally, Worldcoin now stores wallet private keys, World ID private keys, and Orb Data locally on personal devices, giving users more control over their data.
Disadvantages of Worldcoin
- Deceptive Practices : The company has used misleading marketing techniques and has not always obtained informed consent from participants to scan their irises.
- Exploitation of Vulnerable Populations: Worldcoin primarily scanned the irises of students and people in low-income countries. These groups were targeted because they were more likely to participate in exchange for small financial incentives despite not fully understanding the implications of sharing their biometric data.
- Exclusion of Medically Unfit Individuals: Worldcoin does not account for people with medical conditions that make their irises unfit for scanning. The exclusion creates inequality, as it prevents these individuals from participating and benefiting from the platform.
- Black Market : Worldcoin’s biometric verification system has led to a black market for World IDs. Speculators bought iris scans from people in low-income countries for as little as $30. This illegal trade compromises the system’s security and exposes users to identity theft and exploitation.
- Misleading Inflation Claims: WLD claimed an inflation default rate of 0%, potentially increasing to 1.5% after 15 years. However, historical data from CoinMarketCap shows an actual inflation rate of 244.58% in one year. Moreover, despite a long and well-intentioned token unlock period, the large number of unlocked tokens still dilutes the supply. This could potentially lower each token’s value. With a maximum supply of 10 billion tokens, only around 2.6% are unlocked as of July 2024.
- Wealth Distribution: Worldcoin claims , “Worldcoin can be even better than Bitcoin.” It criticizes BTC by saying “it’s just in the hands of the very few rich people”. However, WLD allocated 20% of its coin supply to its own team and investors, even increasing that number later to 25% .
Security and Decentralization
- Security Breach : In May 2023, hackers installed malware on Worldcoin Orb operators’ devices, stealing their passwords and gaining full access to the operator dashboard. Worldcoin claimed no sensitive user data was compromised and reset all operator logins. However, the incident still exposed serious security flaws and raised concerns about the safety of the biometric data collected.
- Hardware Centralization: Worldcoin relies on specialized hardware (Orbs) made by a single entity, Tools for Humanity .
- Vulnerability to 3D-Printed Fakes: AI-generated photos or 3D prints of fake people could potentially fool the Orb software, allowing the creation of unlimited counterfeit identities.
- Regulatory Scrutiny: Worldcoin faces regulatory scrutiny from Hong Kong , Portugal , Spain , and other countries due to concerns about privacy, data security, and biometric data usage.
Worldcoin Price History
Following that, let’s examine some of the key dates in the Worldcoin price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when making or interpreting a Worldcoin price prediction.
| Time period | Worldcoin price |
|---|---|
| Last week (Aug. 14, 2024) | $1.6933 |
| Last month (July 14, 2024) | $1.9011 |
| Three months ago (May 14, 2024) | $5.6363 |
| One year ago (Aug. 14, 2024) | $1.6173 |
| Launch price (July 25, 2023) | $2.1897 |
| All-time high (March 10, 2024) | $11.69 |
| All-time low (September 12, 2023) | $1.0092 |
Worldcoin Market Cap
The market capitalization, or market cap, is the sum of the total WLD in circulation multiplied by its price. On Aug. 14, 2024, Worldcoin’s market cap was $571.1 million, making it the 100th largest crypto by that metric.
Who Owns the Most Worldcoin (WLD) Tokens?
On Aug. 14, 2024, one wallet held 35% of WLD’s supply.
Richest WLD Wallet Addresses
As of Aug. 14, 2024, the five wallets with the most WLD tokens were
- 0x1770bd8186aad27df9b050d65f86cf2cdc92c296. This wallet held 3,500,000,000 WLD or 35% of the supply.
- 0xaee0360b73b5d01dad134f234d3a93adc1680e57. This wallet held 1,750,000,001 WLD or 17.5% of the supply.
- 0x938ced2d1ee4afb220929f96c2eb754c053c77f7. This wallet held 875,000,000 WLD or 8.75% of the supply.
- 0x5b5442c5fceae3b40c230c32a3ffe924bcbe7d93. This wallet held 875,000,000 WLD or 8.75% of the supply.
- 0x99c9fc46f92e8a1c0dec1b1747d010903e884be1. This wallet held 264,151,443 WLD or 2.64% of the supply.
Worldcoin Supply and Distribution
| Supply and distribution | Figures |
|---|---|
| Total supply | 10,000,000,000 |
| Circulating supply (as of Aug. 14, 2024) | 344,128,406 (3.4% of total supply) |
| Holder distribution | Top 10 holders owned 82% of supply, as of Aug. 14, 2024 |
From the Worldcoin Whitepaper
In its technical documentation or whitepaper , Worldcoin says it was founded to create a globally inclusive identity and financial network owned by most of humanity. If successful, Worldcoin could considerably increase economic opportunity. Furthermore, it could also scale a reliable solution for distinguishing humans from AI online while preserving privacy. In addition, it wants to enable global democratic processes and show a potential path to AI-funded UBI.
Worldcoin consists of a privacy-preserving digital identity network (World ID). This, it says, will be built on proof of personhood and, where laws allow, a digital currency (WLD). Every human is, at least in theory, therefore eligible for a share of WLD simply for being human. World App currently complements World ID and WLD, the first frontend to World ID, and the Worldcoin Protocol, developed by the contributor team at Tools for Humanity (TFH).
What Is Worldcoin?
The Worldcoin protocol is the world’s largest identity and financial public network, open to everyone regardless of their country, background, or economic status. World ID is a privacy-preserving digital identity designed to help solve critical, identity-based challenges, including proving an individual’s unique personhood. WLD provides utility and gives users a say over the direction of the Worldcoin protocol. WLD is the first token to be globally and freely distributed to people for being unique.
How Worldcoin Works
It developed a device called Orb, which scans individuals’ iris to prove their uniqueness and humanity. Afterward, it assigns them a World ID that they can use as a global digital passport.
Is Worldcoin a Good Investment?
It is difficult to tell. Worldcoin has been under the spotlight since the Sora news. Another matter is whether it can capitalize on that and whether investors can remain interested in it. We shall have to see whether the upgrade will change things.
As always with crypto, you must do your research before deciding whether or not to invest in WLD.
Will Worldcoin go up or down?
No one can tell right now. While the Worldcoin crypto price predictions are primarily positive, price predictions have a well-earned reputation for being wrong. Keep in mind that prices can and do go down and up.
Should I invest in Worldcoin?
Before you decide whether or not to invest in WorldCoin, you will have to do your research, not only on WLD but on other related coins and tokens such as The Graph (GRT) or Ethereum Name Service (ENS). Either way, you must also ensure you never invest more money than you can afford to lose.
FAQs
Will Worldcoin Reach $10?
It might do but price predictions based on technical analysis don’t expect it to reach a double-figure value in a decade.
What is Worldcoin used for?
Worldcoin is a digital identification platform that aims to provide each person on earth with a convenient way to verify that they are a real human and not a bot or an AI algorithm.
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability, and accuracy of this information. The cryptocurrency market also suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto user should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
