Worldcoin rose for the third consecutive day after developers expanded their product launches to more countries.
Worldcoin launches in more countries
Worldcoin (WLD) retested the important resistance level at $2, its highest point since Aug. 2. The token has surged by over 54% from its lowest level in August.
In a statement, the developers announced they had launched World ID in Guatemala, Malaysia, and Poland. In addition to these countries, Worldcoin is available in places like Argentina, Chile, Austria, Mexico, and the United States.
1 week, 3 World ID verification launches 🇬🇹🇲🇾🇵🇱 pic.twitter.com/CwwNPNUPzh
— Worldcoin (@worldcoin) September 25, 2024
According to its website, the developers have carried out over 6.7 million World ID verifications, with 155,000 accounts joining in the last seven days.
Simultaneously, the number of wallet transactions has risen to 142 million, while daily wallet transactions have soared to nearly 400,000.
Worldcoin, which Sam Altman launched, is also working on the World Chain, an Ethereum (ETH) layer-2 network. Altman is the co-founder and Chief Executive of OpenAI, the company behind ChatGPT.
The developers hope that launching the chain will lower gas fees and ease the scaling process. Also, the chain will incorporate World ID data to prevent automated bots. Also, verified users will share part of the gas fees the network generates.
A key concern among users and policymakers is about data privacy. For example, World ID registrations were paused for a few months in Kenya as thousands of people lined up to be verified. It also encountered privacy issues in places like Hong Kong and Portugal.
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Worldcoin may have bottomed
Worldcoin price chart | Source: TradingView
WLD’s rebound occurred after it found strong support at $1.3245, where it formed a double-bottom pattern.
The coin has since risen above this pattern’s neckline at $1.95. The Average Directional Index has pointed upward, while WLD has moved to the upper side of the wide Bollinger Bands indicator. Additionally, the Relative Strength Index has risen to the overbought point of 70.
Worldcoin is likely to continue rising, with the next reference level to watch being $3.25, its highest swing in July.
This recovery will likely depend on the performance of other cryptocurrencies, especially Bitcoin (BTC). If Bitcoin reaches a record high, as Polymarket users predict, altcoins like WLD will also rally.
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