WLD, the native token of the digital identification platform Worldcoin, has surged 9% among the top 100 cryptocurrencies. This surge follows new executive hires from Google and Apple.
At the time of writing, WLD was trading at $2.36, according to CoinMarketCap. The market cap is $357 million, ranking it as the 98th-largest digital currency.
WLD 24-hour price chart | Source: CoinMarketCap
WLD’s daily trading volume soared by 116% to $357.8 million. Despite this boost, WLD remains down 80% from its all-time high of $11.82, set on March 10.
The rise in WLD’s value follows Tools for Humanity’s announcement of hiring experts from X, Google, Apple, Meta, and Tesla.
Worldcoin has faced scrutiny from data protection regulators, particularly in France and Hong Kong. The iris scanning operations were found to violate data protection laws in Hong Kong.
The newly hired experts aim to ensure compliance with privacy regulations and enhance transparency.
The price surge comes ahead of increased daily token unlocking. Currently, 3.19 million WLD tokens, worth approximately $7.91 million, are released daily. By July 24, this will double to 6.61 million tokens, worth about $16.39 million daily.
Token unlocks refer to the gradual release of cryptocurrencies to prevent large-scale selling in the early phases of a project. This liquidity increase often leads to bearish sentiments.
WLD’s price surge contrasts with the global crypto market, which has dropped over 4% in the last 24 hours to $2.17 trillion. Bitcoin also fell by 3.5% to $58,760.
