Worldcoin Debut Startles Market with Impressive Double-Digit Price Surge

Worldcoin (WLD), the native token of the innovative “privacy-preserving digital identity (World ID)” project spearheaded by none other than Sam Altman, co-founder of OpenAI, has taken the crypto world by storm following its highly-anticipated launch on major exchanges on July 24.

The token’s value skyrocketed on its debut, reaching an impressive $2.22 and recording a staggering 33% gain in just one day. This remarkable surge even outperformed the likes of Bitcoin, Ethereum, and other prominent cryptocurrencies, which experienced a collective sell-off during the same period.

However, amidst the excitement, the launch did not go without controversy. Critics within the crypto sector have raised concerns about WLD’s circulating supply in comparison to its supply cap. Currently, only 1% of the total supply is in circulation, giving Worldcoin a fully diluted market capitalization that surpasses a remarkable $22 billion.

The token issuance involved the creation of 143 million WLD tokens, with a notable portion of 100 million WLD reserved for market makers. The remaining tokens were distributed to investors who had completed the verification process by scanning their irises during Worldcoin’s pre-launch phase, reflecting the project’s focus on cutting-edge identity verification technology.

Despite the debate surrounding the token’s price stability and long-term valuation, several prominent exchanges such as Binance, Bybit, Huobi, OKX, Gate.io, and KuCoin have enthusiastically listed Worldcoin. As a testament to its soaring popularity, the token’s current 24-hour trading volumes have impressively surpassed $348 million, as reported by CoinGecko.

As the crypto community continues to closely monitor the developments of Worldcoin and its ambitious World ID project, the token’s astounding debut has undoubtedly left many intrigued and eager to witness its journey in the evolving digital landscape.

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