World

Universal Basic Income

DeFi

Worldcoin

Coin

<ul class="list-ic vertical">
 <li>1 <a>World Coin may surge to 4% daily in the next 70 days, as per a DeFi researcher.</a></li>
 <li>2 <a>WLD is currently trading near the value of $4.72, with a loss of 1.5% intraday.</a></li>
</ul>
Worldcoin aims to build the world’s largest identity network as a public utility, giving ownership to everyone. It revolves around World ID, which is a privacy-preserving global identity network. The WLD token is designed as a utility token with governance properties.
<h2 class="wp-block-heading" id="strong-what-went-wrong-with-world-coin-strong">What Went Wrong with World Coin?</h2>
Worldcoin might be one of the greatest transfers of wealth, not in the form of a decentralized way or Universal Basic Income (UBI) but to their team and the insiders. As per a tweet by @DefiSquared, the project has no real link to open AI, as many people thought. The WLD token has been sold off as unlocks and will continue to ramp up in the coming months.
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 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcabbVIp291dLDnF0foNT0EeD1FRSqXP6mcvapR4ANbO7_EhtPyXbspQi9emeph4KaS0wI3q4SEsGltnpWgowfvcaj75uPjchBFdnXWqHegNb1WhWmajUTTuNq4WiMeiRhOl_Vk-bA2bQkb-GMbaUiU_ReH?key=2_rhRpAmHgALkDEeWFNLwA" alt="">
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Source: Worldcoin supply by Coincrap
<a href="https://www.thecoinrepublic.com/2024/05/22/is-dogecoin-going-to-shock-the-world-this-bull-run/" target="_blank" rel="noopener noreferrer nofollow">World coin </a>has a total supply of 10,000,000,000 WLD with a fully diluted market cap of $47 Billion. The top 100 holders have 99.23% of the total supply of the coin. It is the total opposite of what decentralization and the results they are aiming for. It is being devalued by 0.6% a day from emissions of grant and operator claims, which are immediately sold as per their on-chain analytics.
<center>
 <blockquote class="twitter-tweet">
 Worldcoin realistically might become the greatest transfer of wealth of this entire cycle. Unfortunately, this wealth transfer isn't in the form of universal basic income as their mission suggests, but instead to the pockets of the team and insiders. I’ve posted a bit on it… <a href="https://t.co/Gr83mnt3Ms" rel="noopener noreferrer nofollow">pic.twitter.com/Gr83mnt3Ms</a>— DeFi^2 (@DefiSquared) <a href="https://twitter.com/DefiSquared/status/1790075349373694174?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 13, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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The Worldcoin Foundation has recently announced it will sell $200 Million worth of tokens to trading firms, which is approximately 18% of the entire circulating supply. The sold supply will come from the community allocation, as per the tweet by the Defi trader.&nbsp;
Meanwhile, when VC starts to sell, the token’s inflation will surge to 4% per day. It will be over $50 Million a day of sell pressure on the retailers.
The manipulative low float / high FDV design is said to be bad for retailers and directly enriches insiders as they hedge their locked allocations at high valuations pre-unlock via OTC.
This “0x99c9fc46f92e8a1c0dec1b1747d010903e884be1” address has observed an outflow of 1,091,941, which is said to be an address of community airdrop.
<h3 class="wp-block-heading" id="strong-will-wld-price-see-a-reversal-to-10-this-year-strong">Will WLD Price See a Reversal to $10 this Year?</h3> 
<a href="https://in.tradingview.com/chart/WLDUSDT/mey9tw5a-</a> by <a href=" https: in.tradingview.com u ritika_tcr rel="noopener noreferrer nofollow">Ritika_TCR</a> on <a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow">TradingView.com</a> 
World Coin has a market cap of $227 Million, with a drop of 1.24% in the last 24 hours. The VM ratio of the WLD token is 0.2, which suggests a consolidated trend in the asset price. WLD price is currently trading near the value of $4.71, with a gain of 183% in the past one year.
WLD has traded in a consolidated range for the last few weeks. It is trading below the 50 and 100 EMA. The upside trend of the token price can see a halt near the value of $6. Meanwhile, the support of the asset price can be observed to be near $3.
The RSI of WLD price is near 44, which is suggesting its presence in the neutral zone. The overall sentiment of the RSI is consolidating in nature.
<h4 class="wp-block-heading">Conclusion</h4>
World coin is said to be criticized by many crypto analysts, including Zachxbt. The top 100 holders have over 99% of the total supply. WLD is currently in a consolidating range but can see a new high in the future.
<h4 class="wp-block-heading">Disclaimer</h4>
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Is World Coin The Biggest Wealth Transfer To The Insiders?

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