It is quite difficult to stay ahead of developments in the world of cryptocurrency. New cryptocurrencies appear every day, but some are more intriguing than others. Worldcoin is one such example; the project’s goal is to bring cutting-edge technology to the field of cryptocurrency.
Worldcoin has received a lot of attention on social media, and many people are interested in investing in the coin. In this post, we will delve more into Worldcoin, its origins, history, the token itself, and, maybe, its future price.
What is Worldcoin?
Worldcoin is a cryptocurrency project created by Sam Altam and others. Sam Altman is the CEO of OpenAi, and he has been working on the project since 2019. The token is meant to be part of a bigger push for a more unified and egalitarian digital economy online.
Furthermore, the token has been contested in the US and will not be launched there for the time being. The token, on the other hand, is a layer 2 Ethereum-based cryptocurrency. This means that it makes full use of the Ethereum blockchain’s security. Furthermore, it supplies its own economy in a dependable manner.
The token is unique in that it seeks to identify persons by scanning a scanned image of their Irisis. This is known as World ID, and it prevents bots and phony identities from transacting cryptocurrency. Furthermore, the token uses artificial intelligence to correctly screen and authorize humans.
People who want to join the network must scan their eyes using a special scanner that scans their iris. This has not been done adequately outside of company tests and will not be launched.
The project has been in beta testing for quite some time. During this time, the project has secured numerous investments to make more changes to the project. It has also had certain difficulties in expanding its network. Later in 2023, it was claimed that certain project members had their credentials taken. Fortunately, no personal user data was compromised, according to the company. Worldcoin successfully exited Beta on July 24, 2023.
The Worldcoin project is now live. pic.twitter.com/xZXG4w56Ps
— Worldcoin (@worldcoin) July 24, 2023
As of today, the initiative is doing quite well, and many people are flocking to give it a shot. The social media hype around it has also contributed to the coin’s meteoric rise on its first day of trading.
Worldcoin Price Prediction
Predicting the future value of any coin can be tricky. This is especially true for newly issued tokens with a high level of market volatility in their charts. Nonetheless, by closely examining many factors, we can predict where the price will go. Adoption rate, future firm goals, market trends, and other factors are among these.
Looking at the token growth rate, we can observe that it is roughly 17.88% each day. This is tremendous, but it will most likely fall in the next few days. If we assume that the token continues to rise at a pace of 17.88% each day, we may expect a price of $28 per token in around a month.
Again, believing that the token would continue to rise at this rate is naive. When we look at all past token releases, we notice a tremendous percentage increase in the first few days, followed by a periodic dip. This is natural for any product or coin launch, especially one that has been touted for a long time.
So we can forecast the token’s future growth rate and then use it to forecast where the price could go. This is more feasible if we suppose that the project will grow at a rate of 6% each day during the same period. This is a more cautious estimate.
The Price of WLD in a Month
If the token experiences a growth of 6% daily then with the current price of it being $2.26 we can do some basic math to figure it out.
Day 1: $2.26 * 1.06 = $2.3956
Then we simply apply this 6% increase to the token for a period of 30 days and we get :
Day 30: $2.3956 * (1.06^29) = $12.9802901.
We simply round this figure to about $13. As a result, if the token increases by 6% every day for a month, the price of the token will be around $13.
Please keep in mind that this is a very tentative projection; the token has only recently been issued, and we have no idea how well it will do. This strategy assumes a daily token increase, which is highly unlikely given market volatility.
The future is difficult to forecast, and any changes in market attitude, project, regulatory scrutiny, and other factors can have a significant impact. It’s usually a good idea to do your own research. Furthermore, before making any investing decisions, you should consult with a financial counselor.
The Price of WLD in 2024
So, where do we anticipate the price of WLD will be one year from now? Because there are numerous elements at play, this will be a very preliminary estimate. However, we can apply the same strategy to assume a negligible level of increase and evaluate where the price is headed. A year is a long period, and even a tiny percentage of growth can have a significant influence. We can simply assume a daily growth % given all of the factors influencing the pricing.
If we believe the buzz surrounding the coin and that the project will continue to be developed as it is currently. We can safely predict a daily increase of 1.3% on average. This may not seem like much, but it adds up over the course of a year. So, without further ado, let’s get to the numbers.
Day 1: $2.26 * 1.013 = $2.28938
After a month: $2.28938 * (1.013^29) = $3.32959798
Day 180: $2.28938 * (1.013^179) = $23.1104607
After one year: $2.28938 * (1.013^359) = $236.324512
By performing the calculations, you can see that the price of Worldcoin will be around $236 exactly one year from today. This assumes the token will grow at a 1.3% annual pace. Given the market volatility and other things that could affect it, this is an extremely bullish rate increase. Furthermore, something spectacular may occur, and as the next Bitcoin halving approaches, the market will see significant volatility.
As previously stated, it is always preferable to conduct your own research before buying on anything. Furthermore, just invest what you can afford to lose and be as calculated as possible.
Factors that Could Influence the Price
If we examine closely, we can readily identify four major aspects that will have a significant impact on WLD’s future. There are many additional variables that come into play, but they are very minor in comparison to these four.
The first on our list is adoption. We’ve already discussed how the adoption rate affects our pricing projection. Adoption encourages additional users to purchase the token. This helps it gain popularity, which raises the price of the token.
Regulation is another important player. For a long time, regulation has been a major issue in the crypto sector. This is especially relevant in light of recent lawsuits filed by the Securities and Exchange Commission (SEC) against Binance and Coinbase.
Nonetheless, there is some hope at the end of the tunnel. Because more users trust the token, favorable regulation might significantly increase its appeal. More stringent rules, on the other hand, may result in a price decrease. If WLD is willing to follow regulations, the chances of regulation scrutiny are much reduced.
Market patterns, broader market trends, and sentiment toward Bitcoin all have a significant effect. This is especially true during times of stress. However, many people are expecting a more favorable market atmosphere, especially if the price of Bitcoin continues to surge to new highs.
The final item on our Technology Development list. The project’s continuing development is critical. If more investors decide to participate in the company and it continues to expand and develop at the same rate, the token’s price will almost certainly climb.
Conclusion
Investing in cryptocurrencies such as Worldcoin carries inherent risks, thus it is critical to undertake extensive research and get guidance from financial specialists. You should also conduct your own research, which is especially important if you have knowledge of the subject.
While Worldcoin’s development potential is optimistic owing to its unique characteristics and previous trends, its price may change due to a variety of variables. Always be prepared for market ups and downs, just like any other cryptocurrency.
Takeaways
- Worldcoins’ goal is to bring cutting-edge technology to the field of cryptocurrency and have a massive human-verified economy under its name.
- Worldcoin has received a lot of attention on social media, and many people are interested in investing in the coin.
- Worldcoin successfully exited Beta on July 24, 2023, and as of today, the initiative is doing quite well, and many people are flocking to give it a shot.
- If we assume that the token continues to rise at a pace of 7.88% each day, we may expect a price of $28 per token in around a year.
- The future is difficult to forecast, and any changes in market attitude, project, regulatory scrutiny, and other factors can have a significant impact.
- You should always be prepared for market ups and downs, just like any other cryptocurrency.
