Worldcoin’s WLD Token Sees Significant Decline Amid Regulatory Concerns
The price of Worldcoin’s WLD token has dropped 9.1% in the past 24 hours and has lost 43.6% over the last 30 days. This decline comes after the token’s launch just one month ago. Currently, WLD is trading at around $1.33, down from $2.36 a month ago.
Main Breakdowns:
- The decline in WLD’s price is concerning, especially when compared to the recovery of other tokens, such as Ripple’s XRP.
- Regulatory headwinds due to data privacy concerns have contributed to the token’s decline.
- U.S. residents are excluded from purchasing or trading the token, further increasing selling pressure.
- The Kenyan parliament has established a committee to investigate Worldcoin’s activities in the country.
- Bavaria’s State Office for Data Protection Supervision is also probing the project over data usage concerns.
Hot Take:
The decline in Worldcoin’s WLD token can be attributed to a combination of regulatory challenges and market sentiment. The exclusion of U.S. residents and the scrutiny surrounding data collection and storage practices have had a significant impact. The project’s ability to navigate regulatory hurdles and meet compliance requirements will be crucial for its future success.
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