Worldcoin (WLD), the native token of the Privacy-Preserving Digital Identity project known as World ID, founded by OpenAI co-founder Sam Altman, experienced a significant surge in value after being listed on major cryptocurrency exchanges on July 24. As of the latest update, WLD is trading at $2.22, marking a remarkable 33% increase in a single day. Notably, this one-day performance surpassed the gains made by popular cryptocurrencies like Bitcoin, Ethereum, and Ripple, despite the broader sell-off observed in the crypto market.
Despite its impressive price surge, WLD has faced criticism from various corners of the cryptocurrency industry. One major concern among traders is the circulating supply and supply cap of WLD. Currently, WLD represents only 1% of the total circulating supply, but its fully diluted market cap has exceeded $22 billion. During the token offering, 143 million WLDs were issued, with 100 million of those allocated to market tokens and the rest going to investors who verified their identity by scanning their irises during the Worldcoin pre-launch.
Worldcoin has been listed on prominent exchanges like Binance, Bybit, Huobi, OKX, Gate.io, and KuCoin, contributing to its 24-hour trading volume of over $348 million, as reported by CoinGecko. However, some traders remain concerned about the coin's Price stability and long-term valuation, given the rapid increase in its value and the potential impact of its limited supply on the market.
