Recently, Worldcoin's price demonstrated a significant increase of 23%, marked by major investments from A16Z and Bain Capital Crypto. However, in the last 24 hours, it lost over 9% of its value.
Investment by A16Z and Bain Capital
The World Foundation raised $135 million through a direct acquisition of WLD tokens by Bain Capital Crypto and Andreessen Horowitz (A16Z). This transaction was notable as both investors purchased tokens at market price without any discounts. Bitwise CIO Matt Hougan highlighted the unusual nature of this purchase, pointing out that these major investors acquired WLD when its price was down 90% from its highs over the past 14 months.
Technical Analysis and Projections
Analyst Jonathan Carter identified a bullish technical setup for Worldcoin's price. He noted that WLD is approaching the upper resistance of an ascending triangle formation following a breakout above a downtrend channel on the daily chart. Breaching major resistance levels could lead to further upward movement, with anticipated price levels of $1.75, $2.50, $3.18, and ultimately $4.05.
Growth of the World Network User Base
The World network has achieved significant growth, now boasting over 26 million users participating on the platform. More than 12.5 million of these users have completed the verification process to obtain an Orb-verified World ID. This growth in verified users has created increasing demand for Orb-verified World IDs, cited as a primary reason for the recent funding.
The recent price increase of Worldcoin and significant investments from A16Z and Bain Capital highlight growing interest in the project and its ongoing development, especially in user verification and enhancing security across digital platforms.
