Just over a month after the launch of Worldcoin, the price of its native token, WLD, has fallen by almost 50%.
Let’s take a look at what is going on with the project. If you missed anything, read our article: What’s the fuss about Worldcoin.
Worldcoin’s problems with regulators and employees
Since the very beginning, regulators all over the world have been against Worldcoin. In particular, the strongest persecution is now happening in Kenya. On August 21, local sources reported that the parliament had formed a committee to scrutinise the Worldcoin’s activities. This 15-member unit has 42 days to investigate the company and submit a report to the House committee.
Moreover, on August 25, Cointelegraph posted a piece on Nadir Hajarabi, who claimed to have been a former employee of Worldcoin. The publication relies heavily on this video, which actually lacks independent verification of his claims. However, according to Hajarabi, the work conditions within the project were unsatisfactory, and various "sloppy and/or illegal things" have been prevalent from day one.
What about the WLD price
The chart below shows the value of WLD since its listing on Binance. Immediately following the listing, the price reached $5.29, but quickly fell to about $2.2. Since August 2, the value has been in a downtrend from $2.5 to the current $1.23. As of this moment, WLD has declined by nearly 50%.
It seems plausible that unless positive news from regulators emerges, WLD will not experience any growth.
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