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- 1 Worldcoin crypto is trading above the key moving averages, indicating bullishness.
- 2 The WLD crypto price surged by 8.44% this week.
Worldcoin is a new cryptocurrency project that has two goals: to create a new way of identifying people online and to work as digital money. The project utilizes the World ID system, a new idea that uses the Orb, a special device that scans people’s eyes to check whether they are real and to confirm that there are no duplicates. This is done in a safe and private way. The project uses the WLD token, which makes it easy and fast to send and receive money in the Worldcoin network.
Use cases of Worldcoin (WLD)
Online Identity Protection: The World ID system lets people prove who they are online in a secure and private way. The system uses the Orb device that scans people’s eyes to make sure they are unique and real humans. In this way, people can avoid scams and keep their identities safe on different websites.
Easy and Fast Payments: The WLD token is digital money that people can use to pay for various things online and offline. The WLD token works well with Worldcoin as a way to send and receive money easily and quickly. People can use WLD tokens as a handy and trustworthy payment method.
Network Control by Users: People who have WLD tokens can also have a say in how the Worldcoin network works. They can vote on important decisions that affect the network’s future and direction. This makes the network more democratic and community-based.
Aims of Worldcoin
Worldcoin is a project that wants to make a network for identity and money that is open and fair for everyone in the world. The main idea behind Worldcoin is “proof of personhood”, which means that people can show that they are real and unique humans online without giving away their real names. The World ID system and WLD token are used by the World App, the first app that connects to World ID and the Worldcoin Protocol, made by the team at Tools for Humanity (TFH).
Worldcoin presents a new way to solve the problem of telling humans and AI apart online while maintaining privacy, which could help with global democracy and maybe give everyone a basic income from AI. The Orb device is a special device that scans people’s eyes to check their proof of personhood. This device is made to last for a long time and is considered to be safe from AI. Worldcoin contributes a new and important idea to the digital world: proof of personhood.
Technical Analysis Of Worldcoin
Worldcoin crypto’s weekly chart shows buyers dominating. The cryptocurrency is in an uptrend as it rises above the main EMA.
Technical indicators also support the bullish sentiment as the RSI is close to the overbought zone of 38 and the MACD has formed a bullish crossover with the green histogram. These signals indicate that the cryptocurrency could face even greater upward pressure in the coming weeks.
Summary
Technical oscillator Worldcoin (USD: WLD) also supports the bullish trend. MACD, RSI, and EMA highlight positive signals, suggesting that the upward trend in the price of the WLD cryptocurrency may continue. Price action suggests that investors and traders are optimistic on a daily basis. Price movements reflect the current optimistic outlook. Worldcoin Investors avoid fear of loss. Scarcity is being created in the cryptocurrency market to attract more investors and lenders. This could be one of the new sources of market volatility, so it’s best to keep your distance.
Technical Levels
Support Levels: $2.30.
Resistance Levels: $3.50.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
