Worldcoin token falls about 44% a month after launch

The project’s native token, Worldcoin — WLD — fell 9.1% in the last 24 hours and 43.6% over the last 30 days. The Block highlighted this.

According to CoinGecko, as of writing WLD is trading at around $1.33, down from $2.36 a month earlier.

Experts described the decline in Worldcoin’s price as a “worrisome trend” given the rebound in other altcoins, notably XRP. They attribute the move primarily to regulatory obstacles that the project has faced regarding its data-collection and storage practices.

“The negative reaction has led to the exclusion of US residents from purchasing or trading the token, which exacerbates selling pressure,” said Jeff Ma, Chief Operating Officer of the BTSE cryptocurrency exchange.

He argues that, while broader market dynamics also influence WLD’s price, the project’s ability to overcome regulatory hurdles and meet requirements will play a key role in any rebound.

Worldcoin announced its official launch on July 24.

The project’s flagship product, the World ID protocol, is based on zero-knowledge proofs. It is a mobile tool that allows people to verify their identity by iris scanning or a phone number.

Worldcoin has attracted the attention of regulators in several jurisdictions. Regulators in the the United Kingdom, France, Germany and Argentina have taken an interest in whether the collection and storage of citizens’ personal information complies with applicable law.

In Kenya, the project’s work has been suspended, and the company’s warehouses have been raided. For a detailed examination of the matter, a special committee has been established.