Worldcoin Eyes Bull Run After Kenya Clearance, Plans Expansion

NOIDA (CoinChapter.com)—Worldcoin, a cryptocurrency and digital identity project co-founded by OpenAI CEO Sam Altman, might be gearing up for a bull run. The project has remained involved in controversies since its launch in 2023.

Concerns over privacy and data protection led to global regulatory scrutiny. However, recent developments indicate potential shifts in both market performance and geographic expansion.

Market Analysis Hints At Upcoming Rally

WLD price currently sits near $4, slightly above the critical support level of $2.779. Holding this support level could attract buyers and lead to a price recovery. The 20-day (red), 50-day (purple), 100-day (blue), and 200-day (green)EMAs are positioned at $3.694, $4.422, $4.888, and $4.613, respectively.

The price remains below these EMAs, typically indicating bearish sentiment. However, breaking above them might signal a trend reversal.

The price nears the 0.236 Fibonacci level at $3.569. Holding above this level and progressing through higher Fibonacci levels might confirm a bullish trend. Historical fractals also suggest a potential recovery pattern, indicating possible upward movement if key support and resistance levels hold.

In addition to technical indicators, operational news from Kenya might influence sentiment. As CoinChapter reported earlier, the Kenyan government recently concluded its investigation into Worldcoin, allowing the company to resume its activities.

The Directorate of Criminal Investigations (DCI) and the public prosecutor found no grounds for further action, advising Worldcoin to ensure proper registration and coordination with regulatory bodies. The development removes a significant hurdle for Worldcoin in Kenya.

Worldcoin Shares Expansion Plans

Meanwhile, Worldcoin announced that it will be introducing World ID orb verifications in Ecuador. Starting on June 26 in Guayaquil and June 27 in Quito, verification services will be available at six locations across the two cities.

The expansion marks a step in Worldcoin’s efforts to increase global adoption. Ecuador joins a list of Latin American countries, including Argentina, Chile, Colombia, Mexico, and Peru, offering World ID orb verification services.

The launch in Ecuador coincides with growing global interest in proof of humanness. In its announcement, Worldcoin referred to a survey in Spain, which revealed that 82% of World ID holders believe technologies like Worldcoin are important for distinguishing humans from bots online.

A similar survey of users in Portugal showed that 77% of respondents supported Worldcoin’s impact on digital interactions. In Ecuador, 92% of respondents support technology-based solutions to differentiate humans from bots, reflecting regional interest in Worldcoin’s mission.

Worldcoin’s expansion into Ecuador comes alongside investment plans in Argentina. The project aims to establish Argentina as a regional hub with investments in technology and economic development.

Worldcoin contributors, such as Tools for Humanity, plan to create opportunities for at least 50 qualified professionals, including developers and data analysts.

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