Worldcoin and the chaos it has generated in the cryptocurrency market

At the time of writing, the situation within the cryptocurrency market is very unstable, this if we take into account the negative impact that Worldcoin has created, causing Bitcoin to drop to the $29,000 level and an estimated decline in the last 24 hours of -3.1%.

According to Ray Salmond, the launch of Worldcoin has generated certain suspicions due to the fact that the price of WLD has experienced a double-digit increase, while the rest of the market has reacted downwards.

In information released by Salmond "WLD is trading at $2.22, reflecting a 33% gain on the day. Despite criticism from nearly every corner of the cryptocurrency sector, WLD's one-day performance eclipses that of Bitcoin and the rest of the cryptocurrency market which has sold off throughout the day."

It has also been indicated The token launch involved the issuance of 143 million WLD and, in particular, 100 million were allocated to marketplace markers, while the remaining tokens were received by investors who were verified by scanning their iris during the Worldcoin pre-launch process.

"Even with concerns about the token's price stability and long-term valuation, Binance, Bybit, Huobi, OKX, Gate.io and Kucoin have listed the token and their current 24-hour trading volumes exceed $348 million according to CoinGecko data."

Cointelegraph. Worldcoin launch raises eyebrows as WLD price notches a double-digit gain. Link

The cover image was designed by the author: @lupafilotaxia, incorporating image: Cryptorank