coinedition.com
Crypto influencer Jordi Alexander believes that Worldcoin may become the next LUNA. Alexander, who also serves as the chief alchemist of the Mantle Network, expressed concerns about the crypto economics surrounding Worldcoin in addition to its controversial real-world activities, including biometric data collection through retina scans.
Alexander recently appeared in an interview with Crypto Banter where he discussed one of the most hyped projects in the crypto space, Worldcoin. Worldcoin was launched by Sam Altman, the man behind ChatGPT. The Worldcoin Foundation aims to establish the world’s largest decentralized identity and financial network.
Worldcoin’s native token, WLD, is a crucial part of the project’s ambitious roadmap. The Worldcoin Foundation acknowledges that its success is contingent on WLD’s adoption and its ability to produce, distribute and service the Orbs that are used to onboard new users through biometric scans.
When Alexander drew a comparison between Worldcoin and LUNA, he did not mean to imply that Worldcoin would see the degree of success that the latter saw. He wanted to imply that Worldcoin may be on the same path as LUNA and suffer a similar fate involving implosion and insolvency. According to the influencer, Worldcoin’s objective of becoming a digital base currency for facilitating monetary transactions put it in the same league as LUNA before its unfortunate crash last year.
Alexander stated that Worldcoin bore all the hallmarks of a bubble in the making, and added that it could even become a trillion-dollar bubble if not stopped early on. WLD has gained more than 36% since its launch a little over a week ago. The momentum has prompted several investors, giving the token a market capitalization of over $266 million. At the time of writing, WLD was trading at $2.27. The crypto influencer believes its momentum will reverse at around $2.80 when market makers will hit their strike price and sell the token.