• Crypto & Funx
• 13 Jan, 2025

Worldcoin (WLD) surged 28% following a global expansion of its identity verification services to over 40 countries.

Recent launches in Costa Rica, Poland, and Austria drive the adoption of Worldcoin’s decentralized ID system.

WLD’s market cap has increased by 75% over the past month, reaching $1.74 billion.

The native cryptocurrency of Worldcoin soared by 28% on Tuesday. This follows a major expansion in the project’s identity verification services, now spanning over 40 countries. Co-founded by Sam Altman, Worldcoin’s decentralized identification system was recently launched in regions such as Costa Rica, Poland, and Austria.

This aggressive has ignited fresh enthusiasm for WLD, propelling the token’s value into a bullish rally.

As of Tuesday, WLD’s price surged within a range of $2.12 to $2.83. It was trading at $2.75 at the time of writing, a striking 37% increase from its support level. Trading volume for WLD has also soared, spiking by 76.56% to a notable $2.38 billion. Over the past week, WLD has seen its value climb more than 60%.

Meanwhile, the token’s market capitalization has also recorded a 75% uptick in the past 30 days, reaching $1.74 billion.

Open interest, a key metric for assessing the flow of funds into an asset, has jumped 38.51%, totaling $346.38 million. This spike in both volume and open interest signals heightened investor confidence and a potentially bullish outlook for Worldcoin’s future.

Worldcoin’s Major Expansion

The project’s ambitious expansion has gained traction in Latin America, with recent operations initiated in Colombia, Ecuador, and Guatemala. By strategically deploying its Orbs, the biometric devices used to conduct identity verification, Worldcoin aims to strengthen digital identity security and counteract fraud.

The demand for such services is evident not only in Latin America but also across parts of Europe, where the project has entered Austria and Poland despite varying regional regulatory conditions.

Last month, co-founders Sam Altman and Alex Blania updates on Worldcoin’s roadmap, emphasizing a long-term goal to onboard one billion users. To date, over 16 million users have been verified through World ID, marking a milestone that Altman celebrated as “amazing progress” in his social media posts.

Altman has expressed optimism for the project’s future, particularly commending Blania’s leadership in navigating regulatory challenges.

Additionally, Worldcoin’s growth trajectory includes the anticipated launch of its layer 2 network, World Chain, under a developer preview. This network aims to offer faster, cost-effective transactions while enabling interoperability across blockchain platforms, an advancement that could potentially drive adoption and utility for WLD in the digital economy.

In the past week, WLD’s upward momentum has drawn significant attention from institutional investors. Large transactions, trades over $100,000, totaled $236.93 million, an indicator of institutional confidence. This surge in high-value trades suggests that major players are not only tracking WLD’s price movements but actively recalibrating their positions in anticipation of the project’s long-term success.