Worldcoin (WLD) Price Dips Nearly 40% Amid Skepticism With Tokenomics and Ecosystem’s Security 

The post Worldcoin (WLD) Price Dips Nearly 40% Amid Skepticism With Tokenomics and Ecosystem’s Security  appeared first on Coinpedia Fintech News

The much-hyped Worldcoin (WLD) project, touting a biometric proof of a personhood-based blockchain network, has encountered a rocky start in the market. Despite its impressive fully diluted valuation of $20 billion, the project’s market capitalization stands at a mere $227 million, raising concerns among investors as the majority of WLD tokens remain in the hands of the team and initial investors.

With challenges ahead, the Worldcoin project is determined to enroll more individuals in its network to secure future growth. However, prevailing headwinds could potentially lead to a further decline in the WLD token’s value unless adequately addressed.

A Closer Look at Worldcoin (WLD) Market Outlook

Drawing comparisons to the Solana and FTX saga, the Worldcoin project experienced an initial surge in value, followed by a notable dip. Currently, only 1 percent of the total supply is in circulation, leading crypto experts to speculate that the WLD price may decline over time as more venture capital unlocks their holdings. The presence of specialized hardware, known as the Orb, has also sparked skepticism within the crypto community.

The Orb – A Double-Edged Sword

At the core of Worldcoin’s strategy is the Orb, a proprietary device designed to onboard real individuals onto their blockchain network through eye-scanning technology. While this approach aims to verify personhood and promote inclusivity, it has raised several concerns. Critics argue that relying on a centralized hardware solution leaves the system vulnerable to potential hacking and compromises user data confidentiality. The Worldcoin Foundation faces the challenge of addressing these doubts to gain the trust of potential users.