Worldcoin News: Can WLD Price Reach $5?
The crypto market is experiencing an uptrend, with several tokens, including Worldcoin (WLD), showing positive retracement. This indicates a potential market adjustment. In this Worldcoin price prediction article, we'll examine whether WLD has the potential to reach the $5 mark.
How has the Worldcoin (WLD) Price Moved Recently?
Worldcoin is currently priced at $3.06, with a 24-hour trading volume of $5.05 billion, a market cap of $682.71 million, and a market dominance of 0.03%. In the past 24 hours, WLD's price has surged by 39.85%.
Worldcoin's highest price was $11.78, reached on March 10, 2024, while its lowest was $0.97, recorded on September 13, 2023. The lowest price since its all-time high was $1.73, and the highest price since this cycle low was $3.09. Currently, market sentiment for Worldcoin is neutral, with the Fear & Greed Index indicating a level of 69 (Greed). Worldcoin has a circulating supply of 223.36 million WLD out of a maximum supply of 10 billion WLD.
Why is the Worldcoin (WLD) Price UP?
Worldcoin's recent price surge can be attributed to its strategic decision to extend the lockup period for early investors and team members. Announced in a blog post, the decentralized identity project stated that the unlock schedule for 80% of the WLD tokens held by Tools for Humanity's (TFH) team members and investors will be extended from 3 to 5 years. This means that the vesting schedule will now be more gradual, lasting until 2029, rather than the original plan.
Token unlocks are typically perceived as bearish events because they increase the circulating supply, providing early investors the opportunity to sell their holdings, which can lead to a price drop. By extending the lockup period, Worldcoin has effectively delayed this potential sell-off, thereby reducing the immediate risk of a supply surge. This move has been positively received by the market, as it demonstrates a commitment to the project's long-term growth and stability. Consequently, investor confidence has been boosted, contributing to the recent upward trend in Worldcoin's price.
Can Worldcoin (WLD) Price Reach $5?
Worldcoin (WLD) is currently trading near its cycle high of $3.09, reflecting strong market interest and momentum. Despite this, the token is down 74% from its all-time high of $11.78, suggesting significant potential for recovery. With less than 2% of its total supply in circulation, WLD's scarcity could drive prices higher as demand increases. The recent decision to extend the lockup period for early investors and team members further limits the circulating supply, reducing the immediate risk of a sell-off and enhancing investor confidence.
High liquidity, reflected by a market cap of $682.71 million and a 24-hour trading volume of $5.05 billion, indicates robust trading activity and the ability to support significant price movements. However, the fact that Worldcoin only had 12 green days out of the last 30 (40%) shows that market sentiment can be volatile.
Given these factors, Worldcoin has the potential to reach $5 in the next few weeks, provided that market conditions remain favorable and investor confidence continues to grow. The extended lockup period and limited circulating supply are likely to play pivotal roles in driving the price upwards, while high liquidity ensures the market can absorb increased trading activity without excessive volatility. However, the relatively low number of green days suggests that achieving this target will require sustained positive momentum and possibly favorable external market conditions.
Where to Buy Worldcoin
For those interested in acquiring Worldcoin, Bitget stands out as an excellent choice for several reasons:
- User-Friendly Platform: Bitget offers a straightforward, easy-to-navigate interface that caters to both beginners and experienced traders.
- Low Fees: Bitget is known for having some of the lowest fees in the market, making it a cost-effective platform for buying and selling cryptocurrencies.
- Security: Bitget provides robust security measures to protect users' assets and personal information, which is crucial in the world of digital currencies.
