Worldcoin rebrands to “World,” launches Orb 2.0: Impact on WLD?

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  • Worldcoin rebranded to ‘World’ and introduced Orb 2.0.
  • Despite positive market sentiment persisting, WLD has declined by 2.71% after the news.

As a seasoned researcher with over two decades of experience in the cryptocurrency market, I have seen numerous projects rebrand and introduce new technologies. However, the recent transformation by Worldcoin (WLD) into “World” and the unveiling of Orb 2.0 has piqued my curiosity.

At a recent gathering in San Francisco, the organization formerly known as Worldcoin announced a change in its name. From now on, it will be referred to simply as “World.

As per the team’s explanation, this action aligns with the company’s aim to extend its business operations beyond just holding the WLD token. Instead, it intends to incorporate identity verification within an AI-focused and -driven future.

Furthermore, the creators, Sam Altman and Alex Blania, unveiled an upgraded verification system called Orb 2.0.

The updated edition represents a more sophisticated iteration of our Iris-recognition project’s technology. Leveraging cutting-edge technology from Nvidia, Orb 2.0 will offer diverse functions like self-service kiosks, and it can be summoned via an app for personal assistance.

Notably, these two developments aim to increase the usage of WLD tokens along with its ecosystem.

Impact on WLD price charts?

Just as anticipated, WLD showed a swift response to the news, but unlike most predictions. Consequently, the price of WLD took a steep dive on its graphs.

Currently, as I’m typing this, the price of WLD stands at $2.18, which represents a decrease of approximately 2.71% in the last day.

Before now, I’ve been riding high with WLD as it surged by 27.17% daily. Notably, over the past month, this altcoin has soared by an impressive 47.08%.

What next for Worldcoin

As a researcher exploring the Worldcoin project, I’m excited about the potential of these recent advancements to draw in more participants. The updates seem promising for the growth and success of the Worldcoin token.

The current market conditions could set the altcoin for further gains on price charts.

For example, Worldcoin’s price DAA Divergence has remained positive over the past week, highlighting that the recent rally is supported by a growing user base.

The metric implied that WLD’s network activity is improving, setting the ground for price appreciation.

The rising number of active addresses provides additional evidence for this occurrence. Over the last seven days, active addresses have climbed from 1759 to 2374, which represents a 34.96% increase on weekly graphs. This trend suggests that the underlying factors are strengthening as more people get involved.

To put it simply, at the current moment, the Long/Short Ratio of Worldcoin stood at 1.0321. This suggests that more traders are holding long positions than short ones in the market. In other words, investors seem optimistic about the potential growth of this altcoin, as they believe its future value will increase.

Read Worldcoin’s [WLD] Price Prediction 2024–2025

Consequently, even with the recent drop, the WLD rally is likely far from finished. The observed decrease might just be a necessary market adjustment before it embarks on another upward trajectory.

If this sentiment holds, WLD will attempt a breakout above $3.2.

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2024-10-18 16:07