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Worldcoin Price Prediction 2024: WLD Price Analysis

Last Updated July 3, 2024 1:15 PM
Giuseppe Ciccomascolo
Last Updated July 3, 2024 1:15 PM
Key Takeaways
  • 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 it dropped in mid-March.
  • How will WLD react to Layer-2 news?
  • One price prediction says it may reach $22.03 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 in Sam Altman. His reputation is amplifying investor interest in both projects, further fueling their potential growth.

The coin had a mixed March and, after jumping on Sora’s news, it dropped in line with all the crypto market. Now it’s in an uptrend but can it last?

Worldcoin’s Layer 2

But 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. The upcoming Layer 2, dubbed World Chain, will be bolstered by Ethereum’s security measures, as confirmed in a recent statement. Furthermore, verified human users will receive preferential treatment in terms of block allocation over bots, along with some complimentary gas, according to the same statement.

While the Worldcoin Foundation is officially spearheading the launch of this new Layer 2, it’s worth noting that Worldcoin has been predominantly developed and promoted by Tools for Humanity.

Neither Worldcoin nor OpenAI responded to a request for comment.

But what is Worldcoin (WLD)? How does Worldcoin work? Let’s see what we can find out, and also take a look at some of the Worldcoin Price Predictions that were being made as of July 3, 2024.

Worldcoin Price Prediction

Let’s examine some of the Worldcoin price predictions CCN.com made on July 3, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.

Minimum WLD Price Prediction Average WLD Price Prediction Maximum WLD Price Prediction
2024 $3.27 $4.09 $4.91
2025 $1.97 $2.46 $2.95
2030 $2.40 $3.00 $3.60

Worldcoin Price Prediction for 2024

If the positive momentum continues and WLD breaks above its moving averages, it could reach targets between $3.27 and $4.91 by the end of 2024, with the average price set at $4.09.

Worldcoin Price Prediction for 2025

Technical analysis suggests a potential increase for Worldcoin in 2025. The minimum WLD price expected for 2025 is $1.97 while the maximum one is $2.95. On the other hand, the average forecast suggests it may reach $2.46.

Worldcoin Price Prediction for 2030

Based on technical analysis, the WLD token may reach a maximum level of $3.60 at the beginning of the next decade, while, in the worst scenario, it may go to $2.40. Meanwhile, the average expected price is $3.00.

Worldcoin Price Analysis

$WLD has retraced nearly 80% from its March 2024 highs. Despite this, it previously experienced a significant run-up and has a strong community backing.

Technical analysis suggests that the price may dip to the 1.83 level before any major upward movement. Potential price action (PA) and a clear invalidation level are outlined in the chart. Traders are likely to look for opportunities to add to their spot positions and open swing trades in these areas.

Worldcoin price analysis
Worldcoin price analysis. | Credit: Giuseppe Fabio Ciccomascolo/TradingView

Based on our technical indicators, Worldcoin’s 200-day Simple Moving Average (SMA) is projected to rise over the next month, reaching $5.11 by August 2, 2024. The short-term 50-day SMA is estimated to hit $3.90 by the same date.

Short Term Worldcoin Price Prediction

The Worldcoin price prediction for the next 24 hours shows the price of Worldcoin to increase by 227%, reaching $7.24 by August 2, 2024. Despite this forecast, our technical indicators show a bearish sentiment, and the Fear & Greed Index stands at 50 (Neutral).

Over the past 30 days, Worldcoin has had nine out of 30 (30%) green days and experienced 23.41% price volatility. Based on this forecast, it is currently a bad time to buy Worldcoin.

Worldcoin Fear & Greed Index

Fear and greed indicator
Fear and greed indicator. l Source: BitDegree

The Fear & Greed Index measures the market sentiment on a scale from 0 (Extreme Fear) to 100 (Extreme Greed). It aggregates factors such as volatility, market momentum/volume, social media activity, dominance, and trends to provide a sentiment overview. Extreme fear can suggest investors are overly worried, potentially presenting a buying opportunity, whereas extreme greed indicates excessive bullishness, often signaling an imminent market correction. On July 3, 2024, the Fear & Greed Index Measured 72, suggesting it’s in a greed zone, while the indicator for the wider crypto world is at 50, reflecting a Neutral view.

Worldcoin Average True Range (ATR)

The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels. On July 3, 2024, Worldcoin’s ATR was 30.1, suggesting a low volatility.

Worldcoin Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above and below the 50 line also indicate if the trend is bullish or bearish. On July 3, 2024, the Worldcoin RSI was at 27.8, indicating a bearish sentiment and leaving it somewhat oversold.

Worldcoin Price Performance Comparisons

Current Price One Month Ago Price Change
Worldcoin $2.33 $4.7743 -51%
Ethereum $3,301.20 $3,809 -13%
Arbitrum $0.7634 $1.1261 -33%
Sui $0.8016 $1.0535 -24%

Worldcoin Advantages and Disadvantages

CCN.com’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 still 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.
Worldcoin Distribution
Credit: Worldcoin
  • 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: Worldcoin claimed an inflation default rate of 0% with a potential increase 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 tokens being unlocked still dilutes the supply. This, potentially, could lower each token’s value. With a maximum supply of 10 billion tokens, only around 2.6% are unlocked as of July 2024.
Worldcoin Unlocking
Credit: Worldcoin
  • 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% .
Worldcoin Token Allocation
Credit: Worldcoin

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 fake 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 now take a look at 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 it comes to either making or interpreting a Worldcoin price prediction.

Worldcoin price history
Worldcoin price in 2023 and 2024. | Credit: CoinMarketCap

 

Time period Worldcoin price
Last week (June 26, 2024) $2.8222
Last month (June 3, 2024) $4.7743
Three months ago (April 3, 2024) $6.9713
Launch price (July 24, 2023) $1.9102
All-time high (March 10, 2024) $10.80
All-time low (September 12, 2023) $0.9780

Who Owns the Most Worldcoin (WLD) Tokens?

On July 3, 2024, one wallet held 35% of WLD’ supply.

Richest WLD Wallet Addresses

As of July 3, 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 1,750,000,000 WLD, or 17.5% of the supply.
  • 0xfb7f100ed6793fcd63e6e9f201be9aa567b2c9cc. This wallet held 992,501,494 WLD, or 9.93% 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.

Worldcoin Supply and Distribution

Supply and distribution Figures
Total supply 10,000,000,000
Circulating supply (as of July 3, 2024) 260,870,812 (2.6% of total supply)
Holder distribution Top 10 holders owned 90% of supply, as of July 3, 2024

From the Worldcoin Whitepaper

In its technical documentation, or whitepaper , Worldcoin says it was founded in order to create a globally-inclusive identity and financial network, owned by the majority of humanity. If successful, Worldcoin could considerably increase economic opportunity. It could also scale a reliable solution for distinguishing humans from AI online while preserving privacy. As well as that, 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 important, 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 just for being a unique individual.

How Worldcoin Works

It developed a device called Orb, which scans the iris of individuals to prove their uniqueness and humanness and, afterwards, 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 is under the spotlight after the Sora news. Whether it can capitalize on that, and whether investors can remain interested in it, is another matter. We shall have to see whether the upgrade will change things.

As ever with crypto, you will need to make sure you 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 largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as 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 will also need to make sure that you never invest more money than you can afford to lose.

FAQs 

How many Worldcoin are there?

As of July 3, 2024, there were 260.9 million WLD in circulation, out of a total supply of 10 billion.

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 users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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