WorldCoin (WLD) Price Prediction: WLD Token Soars by 63% as Bitcoin Nears Record High

The WorldCoin (WLD) price has gone vertical this week, making it one of the best-performing tokens in the industry. It rose to almost $3 and is nearing its highest point since June 26th.

WorldCoin (WLD) price has soared this week, making it one of the best-performing cryptocurrency tokens in the world. It rose to almost $3, which is close to the highest point it has been since June 26. In total, the token has soared by over 63% from the lowest point it reached earlier this month.

Bitcoin price soared

The main reason why the WLD token is soaring is that Bitcoin, the biggest cryptocurrency in the world, has staged a strong recovery and is now close to reaching its highest point on record. After dropping to $53,700 earlier this month, Bitcoin has now recovered to trade at $66,000.

In most cases, we find that altcoins like WorldCoin, Ethereum, and Solana tend to do well when Bitcoin is soaring. For example, WorldCoin reached an all-time high of $12 in March as Bitcoin rallied to $73,600.

Another reason why the WorldCoin price has soared is that the developers decided to tweak the unlocking schedule for the remaining tokens. The period of unlocking these tokens will be extended from three years to 5 years. As a result, 2 million WLD tokens will be unlocked each day instead of the 3.3 million that were planned.

WorldCoin is a highly dilutive token since it has a circulating supply of 276 million tokens against a total supply of 10 billion tokens. This means that WLD token holders will continue being diluted in the next few years.

Other reasons for the WLD token price increase

These were the two main reasons why the WLD token price is rising. However, there are other reasons. For example, the WorldCoin ecosystem is growing as the number of verified users in the network has jumped to more than 6 million.

Also, recently, the developers unveiled the preview of the World Chain solution, which will allow users to build on top of the network. This feature will make it a good alternative to other networks like Ethereum, Solana, and Polygon.

While this is a good thing, the reality is that the World Chain is coming to a highly competitive industry. In addition to Ethereum, there are hundreds of chains that help developers build decentralized applications. Some of the most popular chains are the likes of Kadena, IOTA, EOS, and Zilliqa.

Finally, the WorldCoin price has also risen because of the rising odds that the Federal Reserve will start cutting interest rates later this year. This view is supported by the fact that inflation has slowed while the unemployment rate has risen to 4.1% this year.

This view explains why other cryptocurrencies and stocks have soared. The Dow Jones, Nasdaq 100, and S&P 500 indices soared to a record high this week.

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