Launched in late July, Worldcoin, founded by a team including Sam Altman, founder and CEO of OpenAI (ChatGPT), lost its initial popularity.
After its launch, Worldcoin, pumped by major exchange listings like Binance and Huobi, has dropped more than 40% in the last 30 days.
Losing around 8-9% in the last 24 hours, losses in WLD have exceeded 40% in the last 30 days.
WLD, which went up to $ 5 on the stock market after Binance listing, was trading at $ 2.36 a month ago, but now WLD is around $ 1.33.
Speaking to The Block, Jeff Mei, a crypto exchange BTSE official, stated that regulatory negativities played a big role in WLD's price drop and said:
“The recent drop in WLD price looks alarming, especially when compared to the current signs of recovery in other tokens like Ripple's XRP.
Despite its more recent launch, Worldcoin has faced regulatory downside due to concerns over data privacy.
Apart from these regulatory negativities, the closure of WLD trading for US citizens increased the selling pressure on the token.
He sees multiple factors contributing to WLD's downtrend.
However, the main issue that triggered the decline in WLD in particular was the investigations into the data collection and storage applications of the token.
At this point, it is of great importance how these reviews will be circumvented in the price increase of Worldcoin.”
As it is known, Worldcoin's collection of biometric data of users created controversy in many countries and countries such as England and France launched an investigation about Worldcoin.
*Not investment advice.