Back to News

Worldcoin Soars As Bitcoin Struggles To Maintain Price Above $29k

Twitter icon  •  Published il y a 9 mois  •  Hassan Maishera

WLD rallied by more than 70% on Monday after the Worldcoin project went live, with Bitcoin dropping below the $29k level as the bearish sentiment thickens.

TL;DR

  • Worldcoin’s WLD token soared by more than 70% on Monday following its mainnet launch.

  • Bitcoin is struggling to maintain its price above $29k.

Worldcoin’s Mainnet Goes Live

Sam Altman’s Worldcoin launched its mainnet on Monday, July 24th. The team also launched the tokenomics of its WLD token.

According to the development team, Worldcoin is a project that seeks to solve the issues associated with online identity authentication and income inequality.

Tools for Humanity, the company behind Worldcoin, recently raised $115 million in a Series C funding round. Worldcoin is focusing on its proof of personhood solution and wants to ensure that its solution is privacy-oriented, decentralized and maximally inclusive.

WLD soared by more than 70% on Monday after the project went live. The token was also listed on Binance, the world’s leading cryptocurrency exchange. WLD rallied from $1.9 earlier on Monday to reach a high of $3.315. 

However, WLD has shed most of the gains and is now trading at $2.04, up by more than 20% in the last 24 hours.

Bitcoin Continues To Struggle

Bitcoin’s underperformance in recent weeks has been well documented, with the leading cryptocurrency by market cap, losing steam after its rally last month.

BTC lost more than 2% of its value over the last 24 hours, dropping below the $29k level on Monday. At the moment, BTC is currently trading just above $29,100 and could dip further if the bearish momentum continues.

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.