Regulatory Concerns Engulf Worldcoin
Worldcoin, the cryptocurrency created by OpenAI’s Sam Altman, has faced significant regulatory scrutiny since its launch. Ethereum founder Vitalik Buterin highlighted concerns about privacy and security, while the Kenyan government cracked down on the company for allegedly exploiting residents in exchange for token rewards. Germany’s BayLDA and regulators in Argentina, the UK, and France have also launched investigations into Worldcoin’s data handling practices.
Can WLD Price Recover From This?
As a result of the regulatory scrutiny, the price of Worldcoin’s native token, WLD, has been on a consistent decline. If lawsuits were to arise from these investigations, the price could suffer further. However, there has been a recent increase in the daily trading volume of WLD, indicating growing interest in the coin, which could lead to a short-lived price recovery. Nevertheless, the uncertainties surrounding Worldcoin continue to cast a shadow on its future.
Current Price and Outlook
At the time of writing, the price of WLD has fallen by 6.79% in the last 24 hours, trading at 1.7. It has recorded losses of 25.64% on the weekly chart, but meager gains of 1.72% on the 30-day chart.
Hot Take
Worldcoin’s entrance into the world of cryptocurrencies was met with excitement and promise. However, the subsequent regulatory concerns have cast doubt on its future success. While there is some potential for a short-lived price recovery, the uncertainties surrounding Worldcoin’s data handling practices and the ongoing investigations make it a risky investment. Crypto readers should monitor the situation closely and exercise caution when considering Worldcoin as an investment option.
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