Several regularity concerns have been raised since the launch of Worldcoin’s (WLD) mainnet, resulting in a decline of more than 50% in the value of its token.
Trading at $1.27 at press time, the price per WLD token has dropped by 53% since its $2.71 price peaked on the project’s launch date, CoinMarketCap data shows.
Since the launch of Sam Altman’s Worldcoin, several regulatory bodies across the world have raised concerns over its privacy attribute.
In one such instance, United Kingdom’s Information Commissioner’s Office released a statement on July 31, that Worldcoin was rife with data privacy issues that local regulators intended to look into.
Another announcement was made by the Kenyan government on 02 August, suspecting Worldcoin’s operations, citing a risk evaluation by their government agencies.
The value of the WLD token has been under pressure due to these regulatory inspections. Social activity surrounding the token has decreased over the past month, indicating a sharp decline in interest.
According to Santiment, an on-chain data provider, WLD’s social volume and dominance witnessed a steep decline of 95% and 74% respectively, as evaluated in the past 30 days. This has consequently decreased the hype over the project.
Moreover, the growing regulatory issues have resulted in a fall in WLD’s demand. As per the data, the daily account of addresses g
[…]
Content was cut in order to protect the source.Please visit the source for the rest of the article.
Read the original article: