Worldcoin (WLD) Price Skyrockets 55%, ZachXBT Warns Investors

Bittime - The Worldcoin (WLD) community recently surpassed 6 million users, triggering a significant price spike. The Web3 project, incubated by OpenAI CEO Sam Altman, focuses on building a leading human identity and financial network. In recent weeks, Worldcoin has achieved striking achievements.

Worldcoin Prices Skyrocket Amid Crypto Market Recovery

Amid a crypto market recovery led by Bitcoin (BTC), Worldcoin prices have surged more than 55 percent in the past week. On Wednesday, in the early session in New York, WLD price was trading around $3.01. The project is attracting huge attention from speculative investors around the world looking to capitalize on the current crypto market surge. Additionally, the Worldcoin team has offered incentive coins to new users who register on their network. According to the official Worldcoin website, there are more than 6 million unique people from more than 160 countries who have verified their Worldcoin ID.

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A Closer Look at Worldcoin Tokenomics

The Worldcoin project has received significant criticism regarding the extremely large total supply of WLD compared to circulating supply. Of the maximum 10 billion WLD coins, only 276.9 million coins have been issued to the community, leaving the majority of coins with the development team.

To put things in perspective, Worldcoin has a market cap of about $831 million and a fully diluted valuation of about $30 billion. With only around $3.65 million in liquidity against Wrapped Ether (WETH), blockchain watcher ZachXBT has warned investors of a possible market dump by insiders.

Warning from ZachXBT about Market Manipulation

According to Worldcoin CEO, Alex Blania, market makers have prevented the price of WLD from rising above $10 by gradually increasing supply in the market. Although Blania claims that teams do not control floor prices, studies show otherwise.

“The reality is that eleven-figure valuations are only possible because of the team's tokenomics design, and the token's daily price movements are often influenced by the team as they actively make changes to emissions, market maker contracts, and timely announcements prior to unlock. This begs the question why they don't want the public to believe that this is the case,” said a top trader at Bybit.

In preparation for an insider unlock of WLD coins in less than a week, ZachXBT has accused the team of manipulating prices to dump on unknowing investors.

WLD Price Action

The mass registration of Worldcoin in various jurisdictions around the world has strengthened the fundamental value of the project. As Coinspeaker previously reported, the Worldcoin project has been expanding in various countries led by Ecuador and Kenya.

From a technical perspective, WLD price should consistently close above $4.8 in the coming weeks to ensure bullish momentum going forward.

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Conclusion

Worldcoin's rapid growth has caught the attention of many investors, but has also brought warnings about potential market manipulation. For investors considering entering the WLD market, it is important to remain vigilant and consider all factors that influence the price of this token.

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You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Study Complete Guide How to Buy Crypto on Bittime.