Coinspeaker
Worldcoin Soars as European Market Growth Fuels Positive Momentum
Worldcoin
WLD
$1.63
24h volatility:
1.7%
Market cap:
$741.10 M
Vol. 24h:
$290.37 M
saw a significant price increase this week, rising over 13% due to its growing user base and strategic initiatives in Europe.
Currently, WLD is priced at $1.65, with a 24-hour trading volume of $293 million, reflecting a substantial increase over the past day.
European Market Entry Boosts Adoption
A major factor contributing to this price jump is Worldcoin’s recent foray into the European market, highlighted by its launch in Poland on September 18. This initiative enables users in Warsaw to verify their World ID using a specialized biometric device known as the ‘Orb.’ This expansion not only improves access to Worldcoin’s proof of humanness technology but also further supports the project’s larger vision of establishing a decentralized global identity verification system.
Prior to its Polish launch, Worldcoin introduced similar verification services in Austria and collaborated with the Malaysian government’s R&D team to promote digital proof of humanness in Southeast Asia. These tactical moves highlight Worldcoin’s commitment to enhancing user engagement and expanding its footprint in various markets.
Positive Technical Indicators
The recent price rally has also been backed by encouraging technical indicators. WLD’s price has managed to break through a crucial resistance level at $1.59, which acts as the neckline of a rounding bottom formation. A breakout beyond this threshold signals a bullish reversal, with the next price target set at $2.00.
Photo: TradingView
At the time of writing, the Relative Strength Index (RSI) is at 57.52, indicating moderate buying interest. While a short-term consolidation may occur, the overarching bullish structure remains solid as long as the price remains above the rounding bottom curve. Traders are advised to maintain cautious optimism and stay alert for any signs of waning momentum.
Capital Inflows and Market Sentiment
As of September 19, WLD has experienced net inflows of $1.87 million, contributing to the buying pressure. However, trading volume has recently tapered off, with WLD transactions dropping from 9.15 million on September 12 to 3.61 million by September 18. This decrease might indicate market caution as traders await clearer trends.
Nonetheless, the overall sentiment regarding Worldcoin remains optimistic, buoyed by its successful expansion into Europe and a favorable technical outlook.
Increased Momentum in Digital Identity
Furthering its momentum, Worldcoin announced on September 13 an integration of World ID into the Solana blockchain, leveraging a new cross-chain protocol from the Wormhole Foundation. This integration will enable developers to seamlessly incorporate World ID authentication into decentralized applications (dApps) on Solana, bolstering trust and usability across networks.
As Worldcoin extends its verification system into new territories like Poland and Malaysia, the rising demand for its native token, WLD, signifies growing adoption. The combination of its European expansion and robust technical signals suggests that Worldcoin is well-positioned for sustained positive momentum in the dynamic landscape of digital identity.
Worldcoin Soars as European Market Growth Fuels Positive Momentum
