Worldcoin’s crash threatens to take it out of the top 100 cryptocurrencies

Gone are the days when the Worldcoin (WLD) token was worth $10, and thus the basic rent paid by the protocol reached $60 per month (taking into account that 3 tokens are received every two weeks, approximately).

At the time of this writing, Each WLD is priced at $2.39 and those who have had their iris scanned receive the equivalent of $15 per month.approximately.

In the following chart, provided by TradingView, you can see the behavior that the price of WLD has had since its launch:

The falling price of WLD threatens to push this financial asset out of the top 100 cryptocurrencies and tokens with the highest market capitalization. Currently, as can be seen on explorers such as CoinGecko, Worldcoin ranks #99, with a market cap of $625 billion.

The fall of Worldcoin is attributed to several factors, including the sideways or slightly bearish market of bitcoin, which affects almost all altcoins. In addition, WLD is a highly inflationary tokenas CriptoNoticias has detailed in previous publications. This makes it not a very attractive option for investors to hold.

This is what the trader known as DefiSquared thought in May:

«Worldcoin could realistically become the largest wealth transfer of this entire cycle. Unfortunately, this wealth transfer is not in the form of a universal basic income as its mission suggests, but rather goes directly into the pockets of the team and insiders. (…) Many are still unaware of how aggressively this coin will likely sell as unlocks continue to increase in the coming months.»

DefiSquared, cryptocurrency trader.

A separate point deserves the questions to which the Worldcoin organization is constantly subjected. Several countries have banned the activities of this entity, which is unfavorable for WLD’s share price..

Although Worldcoin is slowly making some changes to gain the approval of regulators, this has not had a positive impact —at least for the moment— on the price of its token.