Key Takeaways

• Worldcoin’s WLD token has a market cap of more than $265 million, despite launching less than a fortnight ago.
• Although there has been a lot of excitement about the project, some crypto experts claim it is a scam.
• Can Worldcoin grow, or will it be another forgotten crypto?

Worldcoin, the iris-scanning, privacy boosting answer to artificial intelligence created by the man behind the most notorious AI platform around, was the hottest topic in crypto in the summer of 2023.

The system, which is designed to create a world where people can carry out transactions internationally, saw its coin hit a market cap of more than $265 million less than two weeks after it came on the open market. 

However, the platform has attracted criticism. Podcaster  Peter McCormack accused it of being a “shitcoin”. Meanwhile, the Massachusetts Institute of Technology review suggested  it was a scam. 

CCN reached out to Worldcoin for commentary, but did not receive a reply at the time of publishing.

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 August 4 2023.

Worldcoin (WLD) Explained

Worldcoin  is a cryptocurrency designed to counteract the growth of artificial intelligence. The system allows people to sign up, prove who they are, and start accessing decentralized financial services.

Founded by AI guru Sam Altman, it aims to create a system where people can carry out financial transactions across the world. 

Worldcoin is based on the Optimism (OP) layer 2 platform which, itself, is based on the Ethereum (ETH) blockchain. 

The WLD crypto token supports the Worldcoin system. 

How Worldcoin Works

If someone wants to sign up to Worldcoin, they have to carry out something called Proof-of-Personhood. This  the Worldcoin organization scanning their irises. This, in turn, proves they are a real person.

People who want to have their irises scanned need to attend a center where the process can take place.  

WLD rewards people who sign up to Worldcoin. The platform’s members can earn one WLD a week. People can also buy, sell, and trade WLD on exchanges. 

WLD Price History

Now, let’s examine the, admittedly brief, Worldcoin price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a Worldcoin price prediction.

WLD first came onto the open market in July 2023. On July 24, it opened at an all-time low of $1.66 before reaching an all-time high of $3.58 later that day. Since then, it has fallen down and, on August 4 2023, it was worth about $2.30. 

At that time, there were 117.89 million WLD in circulation out of a total supply of 100 billion. This gave the token a market cap of about $267 million, making it the 115th-largest crypto by that metric. 

Worldcoin Price Analysis

WLD had a wild ride on its first day of trading. On July 24, it rose 115% before dropping nearly 40% to close at $2.19 and fell a further 12% to $1.91 the following day.

Since then, it has mostly traded between $2 and $2.50, suggesting that the latter price could be its upper limit for now. 

Worldcoin Price Prediction

With that all said and done, let’s examine some of the Worldcoin price predictions being made on August 4 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time. 

Because WLD is a very new crypto, there is relatively little to go on, meaning that forecasts may be even more inaccurate than normal. 

First, CoinCodex  made a short-term Worldcoin price prediction that said the crypto would drop to $2.22 by August 9. By September 3, though, it should recover to $2.33. The site’s technical analysis was highly bearish, with 10 indicators sending discouraging signals and just one making a bullish one. 

Worldcoin Forecast for 2023

In terms of other sites’ Worldcoin price predictions for 2023, DigitalCoinPrice  said the token would reach $4.82. Bitnation  said WLD would get to $3.40. Techopedia  was in the middle, saying it would trade at $4.15. 

Worldcoin Forecast for 2025

Bitnation made a Worldcoin price prediction for 2025 that said the crypto would reach $7.93. Techopedia said it would be worth $5.25. DigitalCoinPrice thought WLD would be worth $7.81 in two years time.

Worldcoin Forecast for 2030

Moving on to a more long-term Worldcoin price prediction for 2030, Techopedia said the token would stand at $6.25 that year. Bitnation claimed it would reach $19.26. DigitalCoinPrice had a WLD price prediction that saw it trade at $23.27 at the start of the next decade. 

Is Worldcoin a Good Investment?

It is hard to say. Keep in mind that WLD has only been openly available for less than two weeks at the time of writing. Therefore, we don’t know how well the token can respond to either massive bull markets or devastating crashes.

There are also some concerns about the platform and its token. It has been accused of not quite being all it makes itself out to be. 

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in WLD.

Will Worldcoin go up or down?

No one can really 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 own research, not only on WLD, but on other, related, coins and tokens such as Optimism and Ethereum. 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?

On August 4 2023, there were 117.89 million WLD in circulation out of a total supply of 100 billion.

Will Worldcoin reach $10?

It might, at some point in the future. DigitalCoinPrice and Bitnation both think it will reach two figures in 2026.

What is Worldcoin used for?

The WLD token supports the Worldcoin crypto platform. People can also buy, sell, and trade WLD on exchanges. 

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 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.