This Week’s Worldcoin’s Highlights
Alliances and forays into other networks are this week’s highlights for Worldcoin.
This week’s reality for the Worldcoin token (WLD) was decidedly negative, with the price dropping to $2.43 per coin. This brings the price below the low point of the current bear cycle. This is a major blow to investors, especially those who entered the market when the token was hovering around all-time highs.
More recently, the coin’s return is -11.50% on a 24-hour time frame and -19.06% on a weekly basis, according to data from CoinMarketCap. Over the past month, the coin has lost half of its value. With all of this going on, investors see no hope for improvement, at least in the short term.
The partnership aims to launch World Chain in the coming weeks or months. In return, World Chain developers will have access to a comprehensive, end-to-end Web3 development platform. This includes core and data APIs, indexing solutions and a range of other tools needed to support their applications.
Meanwhile, investors are wondering if there is a chance that this trend can be reversed. Therefore, it is important to analyze some of this week’s interesting data related to this project.
The regulatory issue is far from resolved. Nevertheless, some hope has come with the withdrawal of the lawsuit by the Kenyan regulators. It is worth noting that the latter were among the most aggressive against Worldcoin and its intriguing way of collecting user data.
Worldcoin’s Top Facts This Week
This week’s highlights for Worldcoin include alliances and forays into other networks. Of particular note is the infrastructure agreement with Alchemy. The latter will enhance the World Chain project, the protocol’s network.
Alchemy commented on this via X, stating that “We’re partnering with @worldcoin to bring World Chain to millions of people around the globe. We’re ready to build with the biggest project in web3. “
Executives from both companies emphasized the importance of this agreement and expressed their enthusiasm for the proposed goals. This news could significantly improve the project’s infrastructure, which ultimately benefits WLD’s price projections.
Noam Hurwitz, Head of Engineering at Alchemy Rollups, said, “We are excited to partner with Worldcoin to provide essential infrastructure and support developer growth for the World Chain.
He added, “With over six years of proven experience ensuring uptime for leading Web2 and Web3 companies, Alchemy is uniquely positioned to support World App’s 10M+ users at launch. In addition, we are proud to offer our entire Alchemy product platform to developers, seamlessly integrated with World Chain.
Another major event this week is the launch of World ID on the Solana network. This expansion of the digital identity protocol is being driven by the Wormhole grant. The latter is an interoperability protocol between different blockchains. It will be responsible for overseeing the execution in Ethereum and the transfer of the World ID to Solana in a secure manner.
With this week’s data, one can get an idea of the level of progress and commitment of the Worldcoin team. Despite the major challenges and hurdles it faces with regulators in different parts of the world, the project remains steadfast in its goal of global expansion.
As expected, any improvements along the lines outlined above, as well as improved relations with regulators, as in the case of Kenya, are highly positive. Whether the price of the token rises from its current low will depend on this.
By Leonardo Perez