- Worldcoin to get its L2.
WLD has remained in the $4.7 price zone despite the latest announcement.
Worldcoin (WLD) is known for making bold statements, and they didn’t disappoint with their latest update.
After the iris scanning issue caused a stir, the company revealed plans for their Layer 2 (L2) solution. Has this news affected the price of WLD at all?
Worldcoin’s Layer 2
On April 17th, Worldcoin unveiled the “World Chain,” which they introduced as a new layer in their system that operates on an existing network and functions as a Layer 2 solution.
Significantly, Ethereum (ETH) will ensure the security of the World Chain as mentioned in the recent announcement. Additionally, the statement revealed that certain bots are present on the platform, some of which are essential.
To address potential network congestion caused by unnecessary bots, Worldcoin plans to leverage World ID to distinguish between bots and human users.
Furthermore, the article emphasized that Worldcoin’s native token, WLD, would play a significant part in covering gas fees, just like Ethereum’s ether token.
Did Worldcoin react?
The newest update from Worldcoin unveiled a fresh use for WLD, but it didn’t stop the noted drop.
The daily chart analysis shows that WLD ended the day with a loss, despite having made an announcement.
On the last trading day of April 17th, WLD saw a significant drop in value, with its price dipping below $4.8 (a decrease of more than 6%).
When I penned this down, its value underwent frequent changes, swinging between profits and losses. It barely rose by less than 1%, lingering around the $4.7 mark.
In simpler terms, the blue line representing the long moving average now functions as a floor for the price at approximately $4. However, if this level is broken, it may trigger a larger drop in price.
In addition, the RSI signal suggested a downward trend as it registered a value below 40, signifying robust bearish feelings among traders.
The recent announcement from WLD didn’t change the current trend and didn’t produce a positive response.
Active addresses show reduced activity
An examination of both the daily and monthly active address numbers for Worldcoin, aside from price fluctuations, suggested a waning interest in the project.
Read Worldcoin’s [WLD] Price Prediction 2024-23
Based on Santiment’s analysis, there has been little variation in the number of actively used cryptocurrency addresses over the past 24 hours, from the 17th of April up until now. A minor decrease has been noticed instead.
Currently, there are 321 addresses in use. Furthermore, the number of active addresses over the past month has decreased noticeably, reaching a total of 6,483 at the present moment.
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2024-04-18 15:03