Worldcoin (WLD) Price Spikes Over 55% but ZachXBT Issues Caution to Investors

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As a seasoned crypto investor with over a decade of experience in the market, I have seen my fair share of hype surrounding new projects and their tokens. However, the recent surge in Worldcoin (WLD) price and the attention it has garnered from the community has piqued my interest.

As a crypto investor, I’ve been keeping an eye on Worldcoin (WLD) lately. This intriguing Web3 project, incubated by OpenAI CEO Sam Altman, is making significant strides towards building a leading human identity and financial network. Here are some recent accomplishments that have caught my attention:

During the current cryptocurrency market uptrend, spearheaded by Bitcoin (BTC), Worldcoin’s price has experienced a significant gain of more than 55% over the past week, reaching approximately $3.01 during early trading hours in New York on Wednesday.

The Worldcoin initiative has garnered significant interest from investors globally, eager to capitalize on the persistent crypto market surge. Furthermore, new users joining the network have been rewarded with incentive coins by the Worldcoin team, as stated on their official website. Over 6 million distinct individuals from approximately 160 countries are part of the Worldcoin ID verification system.

Worldcoin Tokenomics at Close Glance

As a researcher studying the cryptocurrency landscape, I’ve come across the Worldcoin project which has garnered considerable critique due to its vast disparity between the total supply and circulating supply of WLD coins. Out of the possible 10 billion maximum WLD coins, a mere 276.9 million have been distributed to the community thus far, leaving an enormous portion in the hands of the team.

To help understand the scale, Worldcoin’s market value is approximately $831 million, while its fully diluted valuation reaches an impressive $30 billion. However, this project holds only around $3.65 million in liquidity against Wrapped Ether (WETH) on the chain. Cautionary note from investigator ZachXBT: be wary of potential insider sales that could lead to a significant market drop.

As a researcher studying the behavior of certain groups in the cryptocurrency market, I recognize the importance of maintaining a clear focus on simplicity. In some instances, I come across individuals or organizations who prioritize their own gains over the greater good. They continue to profit from a supposed scam token while presenting themselves as creators of valuable tools for humanity. In essence, they are engaging in deceptive practices, masking their true intentions.

— ZachXBT (@zachxbt) July 17, 2024

Based on information from Worldcoin CEO Alex Blania, it appears that market makers have taken actions to limit the WLD price from rising above $10 by gradually releasing more tokens into the market. However, during the Token2049 conference in Dubai, Blania stated that the team does not directly influence the token’s price. Nevertheless, the research indicates a different finding.

Top traders at Bybit have pointed out that the team’s tokenomics design is the primary reason for the cryptocurrency’s 11-figure valuation. The daily price fluctuations have often been influenced by the team through modifications to emissions, market maker contracts, and strategic announcements before unlock events. This scenario raises valid concerns regarding why the team would not want the public to acknowledge this influence.

The Worldcoin project is about to release insider WLD coins within the next few days, and ZachXBT has raised concerns that the team may be artificially inflating the price to sell to unsuspecting investors.

WLD Price Action

The global expansion of Worldcoin’s mass registration process in various countries, including Ecuador and Kenya, has significantly boosted its inherent worth, as mentioned in a previous report by Coinspeaker.

To maintain a bullish trend technically, it’s important for WLD‘s price to regularly surpass the $4.8 mark in the approaching weeks.

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2024-07-17 18:36