coinedition.com
Worldcoin (WLD), the privacy-focused project that took the crypto industry by storm, has been in a significant bearish trend. Although the bearish trend is not unique to WLD as it impacts the overall market, data shows that WLD’s case is much worse.
In particular, according to CoinMarketCap data, WLD traded at $2.4 exactly a month ago. Since the coin now trades at $1.11, it implies WLD has lost over 52% of its value in under a month.
Furthermore, a crypto enthusiast recently shared data from a reputable data analytic firm that paints a grimmer picture of WLD investors. In particular, Twitter (X) user Slim Daddy quoted from IntoTheBlock that 98.52% of WLD investors are in losses. This data indicates that less than 2% of WLD holders have been in money since the July hype.
Ever since the hype on WorldCoin $WLD in July. The price has seen a massive -60% drawdown and data from @intotheblock shows that 98.52% of holders are in losses. This is negative for the network as there is high selling pressure from holders trying to break-even on their… pic.twitter.com/pY8zO5sYdU
— Slim Daddy◻️𓃵 🌲 (@felixreads) August 25, 2023
This declining interest in WLD, which began the first week of August, started after Kenya halted Worldcoin due to privacy and security worries. The government suspended Worldcoin’s operations, citing the project’s controversial biometric scans of Kenyan citizens.
As Coin Edition reported, Kenya is not the only country that took a stance against Worldcoin. The report mentioned that multiple government agencies are investigating the legality and purpose of collecting biometric data from citizens to safeguard privacy and security.
Meanwhile, it is a different ball game for Argentina. Worldcoin recently claimed that its project received a warmer reception from Argentinians. It mentioned that nearly 10,000 persons willingly signed up for Worldcoin Orb verification in one day. However, the craze around Worldcoin in Argentina barely impacted WLD positively.