Worldcoin’s Rebrand to ‘World’ and Orb 2.0 Release Met with 5% WLD Price Decline
The post Worldcoin’s Rebrand to ‘World’ and Orb 2.0 Release Met with 5% WLD Price Decline appeared on BitcoinEthereumNews.com.
Despite launching Orb 2.0, WLD’s price declined by 5%, signaling market skepticism. Worldcoin’s pivot to broader identity verification has not yet inspired a price rebound. Following a recent CNF update, where WLD was riding a strong uptrend, Worldcoin (WLD) rebranded itself as “World” and introduced its new Orb 2.0 technology at a media event in San Francisco. Co-founders Sam Altman and Alex Blania presented the updated iris-recognition technology, which features a more advanced Jetson chipset from Nvidia. This upgrade increases AI capabilities fivefold while reducing component complexity. The new Orb 2.0 will be more widely available, with self-service kiosk options and the ability to request the Orb via an application. These changes aim to expand the project’s focus from digital assets to identification verification in an AI-driven world. However, despite these advancements, WLD’s price dropped by 5%, falling to $2.11. As detailed in a recent YouTube video, join Worldcoin co-inventors Alex Blania, CEO of Tools for Humanity, and Sam Altman, CEO of OpenAI, along with other key project members as they discuss meaningful updates to Worldcoin. Market Reaction and Price Outlook The price decline followed the event, as traders remained skeptical despite the introduction of World Chain, a Layer 2 Ethereum-based blockchain. The project has support from major blockchain entities such as Optimism, Uniswap, and Alchemy. WLD’s recent price action shows a falling wedge pattern, often indicative of a potential bullish reversal. Technical indicators are mixed, with the Relative Strength Index (RSI) at 56.41, showing slight bullish momentum, and the Chaikin Money Flow (CMF) at -0.15, signaling selling pressure. Analysts expect initial resistance at $2.47 if a breakout occurs, with price targets set at $4.01, $5.41, and a stretch target of $6.57, depending on positive developments in Orb 2.0 and further adoption of World’s identity-verification system. According to CoinMarketCap, WLD…
Filed under: News - @ October 18, 2024 5:21 am