Orientation towards the American market: the secret of the rise of World Network

Digital ID in the USA

World Network ( former Worldcoin ) has launched the World ID service in six American cities: Austin, Atlanta, Los Angeles, Nashville, Miami, and San Francisco. The system is designed to distinguish real people from robots. User authentication occurs through scanning the iris of the eye with a special device called Orb. The latter is equipped with a Jetson processor from the American tech giant Nvidia.

Next, a special code “IrisCode” is assigned. It is direct confirmation that the user is a human and not a bot. After the procedure is completed, the participant receives a certain amount of WLD tokens. The World ID can then be used to log in to any platforms that have integration with the open API of Minecraft, Reddit, Telegram, Shopify, and Discord.

In the future, World Network plans to improve its system based on user feedback. In addition, the developers have plans to expand their geographical presence.

Listing on Coinbase

On April 30, the cryptocurrency exchange Coinbase announced that the WLD token has been added to the listing roadmap. This news is quite positive for supporters of the coin in the USA, as there have been certain concerns regarding World Network for a long time. The fact is that the current number of coins in circulation is heavily limited, and a large number of unlocks are expected in the future. There were also certain concerns related to the collection of personal data by World Network. In March 2024, the Spanish Data Protection Agency (AEPD) even issued a mandate that prohibited such activities. It is worth noting that being added to the roadmap is not a guarantee of further listing, but merely an indication that the cryptocurrency has the potential for it.

Integration with OpenAI

OpenAI, the research organization behind the ChatGPT neural network, may announce support for the World Network in the United States. So far, these are only rumors, but they have also given confidence to crypto investors. If this does happen, then it is likely that WLD will be integrated into ChatGPT. Such a development is quite possible, given that one of the key figures in both OpenAI and the World Network is Sam Altman (Sam Altman)

World Card from Visa

On April 30, it was announced that the new debit card World Card would be launched. It will be the result of a collaboration between World Network and the payment company Visa. The World Card can be directly linked to a wallet in the World App, allowing users to pay with digital assets at any online and offline stores that accept Visa.

Increase in activity of large players

According to the analytics platform Santiment, the number of large WLD transfers increased in the last week of April. Among cryptocurrencies, World Network ranked eighth. And while the activity of large players is a positive factor, Santiment issued a sinister warning:

“Historically, assets that are not related to stablecoins have a much greater likelihood of price reversal. At the same time, some players will get a good entry point ( exit ) from which they can extract an advantage.”

Technical Analysis

Indeed, starting from April 27, WLD began to correct. From April 7 to April 25, the WLD token increased in price by 119.72%. It was logical that at some point investors would start taking profits. In this regard, the current 28% correction is not surprising. Notably, despite such a decline, the overall trend remains bullish. This is confirmed by the fact that the price exceeds the 50-day moving average ( marked in blue ). However, the moment for purchases is not suitable right now. The fact is that the Parabolic SAR line is above the price. The support and resistance levels are marked at $0.81 and $0.986, respectively.

Source: tradingview.com

Withdrawal

The main catalysts for the growth of World Network were the actions of its representatives in the USA. The World ID system was implemented in six American cities, and the WLD token made it onto the listing roadmap for Coinbase. The correction that began at the end of April is explained by the fact that investors decided to secure part of their profits after more than doubling in value.

This material and the information contained herein do not constitute individual or other investment advice. The opinion of the editorial team may not coincide with the opinions of analytical portals and experts.