He Worldcoin (WLD) price has reached a market valuation of $20 billion just 24 hours after launch, with the coin founded by Sam Altman reaching an all-time high of $3.30 shortly after going public.
However, WLD is now down 35% since peaking yesterday, and the altcoin is also down 20% in the last 24 hours, as the hype around its launch levels off and early buyers take their profits.
And while Worldcoin’s goal of providing a universal digital identity is certainly ambitious, its use of biometrics (for example, iris scanning) has left some commentators concerned about its potential threat to privacy.
Worldcoin Price Prediction as WLD Hits $20 Billion Market Cap Immediately After Launch: Can Worldcoin Overtake Bitcoin?
Worldcoin’s Relative Strength Index (purple) is rising again, approaching 70 after spending the previous night dipping to 30 (or below).
It is perhaps not surprising that a newly listed coin has exhibited such volatility, with the coin’s price rising again since taking a sharp plunge in the early hours of the morning.
Therefore, it will be interesting to see if WLD can break above its current resistance level (red) of around $2.20.
If possible, we could expect the new altcoin to return to higher levels, something that could be a possibility given that its big drop last night has provided a real opportunity for new buyers to push its price higher.
As noted above, Worldcoin was co-founded by Sam Altman, who is also the founder of OpenAI, the company behind the generative AI sensation ChatGPT.
Unsurprisingly, this kind of pedigree has caused investors to sit up and take notice of Worldcoin, especially as the latter plans to provide everyone in the world with a digital ID.
However, to provide such identification, Worldcoin plans to scan the irises of everyone on the planet, or at least everyone who agrees to volunteer their eyes.
This has raised numerous privacy concerns, with some commentators speculating that the underlying technology of Worldcoin could be a derivative of a company owned by Ant Financial, which has been under pressure from the Chinese government in recent months.
As such, the cryptocurrency community’s caution around Worldcoin could prevent it from enjoying sustained growth, even if the potential for gains may cause more than a few investors/traders to abandon their moral qualms.
Assuming Worldcoin is a hit with the general public, it could easily go higher, with WLD potentially returning to $3.30 in the coming weeks or months.
Other new altcoins with great potential
If certain merchants are scared by Worldcoin’s potential threat to privacy, they may feel more comfortable investing in other new altcoins with strong growth potential.
And while the market has been up and down in recent weeks, one area that has been lucrative this year has been pre-sale, with the best pre-sale coins tending to pick up once they are listed on exchanges.
One coin likely to fit this mold is BTC20, a new ERC-20 token that will provide an Ethereum-based version of Bitcoin that can be staking for passive income.
Its pre-sale started last week and it has already raised more than $1.8 million, a number that shows how much the coin has impressed the market.
In homage to the price BTC reached in 2011, the pre-sale will make BTC20 available at the fixed price of $1, with 6.05 million BTC20 available in total.
BTC20 will also have a limited maximum supply of 21 million, with the coin’s staking mechanism hardcoded for the rest to be issued over the course of the next 120 years.
This constant release of a limited supply of tokens means that BTC20 will be a deflationary cryptocurrency much like Bitcoin, something that may help to increase its price over time.
Buyers can participate in the sale by going to the official BTC20 website and connecting their cryptocurrency wallets, with the currency purchasable using USDT, ETH, or fiat currency.
As noted above, 1 BTC20 costs $1, however, the price of the coin could easily rise much higher when listed on exchanges.
Visit BTC20 now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.
