Ah, dear reader, gather ’round as we delve into the curious case of Worldcoin, which has, in a most audacious manner, leapt a staggering 10% in but a single day! This remarkable ascent is attributed to the World Foundation’s recent endeavor to raise a princely sum of $135 million. One might say, “What a time to be alive!”
As per the World Foundation’s grand proclamation on the 21st of May, these funds are destined to expand the iris-based identity network known as World ID. The illustrious Andreessen Horowitz and Bain Capital Crypto have taken the lead in this venture, purchasing Worldcoin (WLD) tokens at market value, thus increasing the supply of tokens in circulation. Oh, the irony of it all! Who knew that a mere token could hold such sway over the hearts of men?
With a veritable army of over 26 million users and 12.5 million Orb-verified IDs scattered across more than 160 countries, this institutional backing bestows a certain gravitas upon the project. The market, in its infinite wisdom, has responded with enthusiasm, as if it were a child presented with a new toy.
Trading volume has surged by 87%, now exceeding $508 million, while derivatives volume has exploded by a staggering 112%, reaching $879 million. Open interest, too, has risen by 23%, now resting at a comfortable $280 million, according to the ever-reliable Coinglass data. After a prolonged period of decline, this sudden uptick suggests a shift in trader sentiment, as capital flows back into the embrace of WLD. Yet, let us not forget, the token remains a mere shadow of its former self, languishing 89% below its peak of $11.74 back in March 2024.
On the technical front, Worldcoin’s price action is exhibiting signs of newfound strength. Having recovered from a support level around $1.00, it has ascended to $1.24. This ascent is accompanied by a robust momentum and rising volume, hinting that the bulls may be regaining their footing. The price now dances above the short- and mid-term moving averages, which are trending upward—a classic bullish sign, if ever there was one.
The relative strength index, hovering just above 60, suggests that there remains ample room for growth without teetering into the realm of overbought territory. The expanding Bollinger Bands whisper of a potential breakout. Should the bulls manage to breach the crucial resistance level around $1.30, the next formidable barrier awaits at approximately $1.38.
Yet, dear reader, let us not be blinded by optimism. The on-chain fundamentals present both a risk and a strength. The recent token sale has introduced more WLD into circulation, which could exert short-term pressure on the price. However, the fact that this was not a mere venture capital dump, but rather a sale to two long-time backers at market price, alters the narrative significantly.
Moreover, if Worldcoin can wield this newfound funding to effectively scale its World ID infrastructure—especially in jurisdictions like the U.S., where digital identity regulations are tightening—it may carve out a unique niche at the intersection of AI, privacy, and identity. A most intriguing prospect, indeed!
If the current momentum persists, WLD may find itself oscillating in the $1.37–$1.50 range. A breakout above this threshold could herald a more pronounced rally, as shorts are squeezed tighter than a pair of old trousers. However, should the buyers lose interest and the token dip below $1.20, a retrace to $1.10 or even $0.95 remains a distinct possibility. Ah, the fickle nature of the market!
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2025-05-22 11:07