Worldcoin (WLD) Rises 28% After Global ID Verification Expansion
The native cryptocurrency of Worldcoin, WLD, increased by 28% on Tuesday following an expansion of its identity verification services to over 40 countries. Co-founded by Sam Altman, the decentralized identification system launched in regions including Costa Rica, Poland, and Austria.
This rollout has generated renewed interest in WLD, leading to a bullish rally. On Tuesday, WLD's price ranged from $2.12 to $2.83, trading at $2.75, representing a 37% increase from its support level. Trading volume surged by 76.56% to $2.38 billion, with WLD’s value climbing more than 60% over the past week.
Worldcoin's market capitalization increased by 75% in the last 30 days, reaching $1.74 billion. Open interest rose by 38.51%, totaling $346.38 million, indicating heightened investor confidence and a positive outlook for Worldcoin.
Worldcoin's Major Expansion
The project is expanding in Latin America, recently launching operations in Colombia, Ecuador, and Guatemala. By deploying Orbs, biometric devices for identity verification, Worldcoin aims to enhance digital identity security and reduce fraud.
Demand for these services extends beyond Latin America to Europe, where Worldcoin has entered Austria and Poland despite diverse regulatory conditions. Last month, co-founders Sam Altman and Alex Blania outlined plans to onboard one billion users, having verified over 16 million users through World ID, which Altman described as significant progress.
Altman expressed optimism about the project's future, praising Blania's leadership in addressing regulatory challenges. Additionally, Worldcoin plans to launch its layer 2 network, World Chain, currently in developer preview, aimed at providing faster, cost-effective transactions and interoperability across blockchain platforms, potentially enhancing WLD's adoption and utility.
In the past week, WLD attracted attention from institutional investors, with large transactions exceeding $100,000 totaling $236.93 million. This increase in high-value trades indicates that major players are closely monitoring WLD's price movements and adjusting their positions in anticipation of the project’s long-term success.