Here’s WLD’s reaction as Worldcoin debuts in Singapore:

reporter

Posted on: December 28, 2023

• Worldcoin is launched in Singapore.
• WLD has seen demand decline after hitting an all-time high 10 days ago.

Worldcoin (WLD), a cryptocurrency project co-founded by OpenAI CEO Sam Altman, has launched in Singapore. name December 27th.

This launch comes six days after the launch of Worldcoin. stopped Eye scans are being carried out in India, Brazil and France.

Global ID authentication begins in Singapore 🫡https://t.co/H71mO2d8gn

— World Coin (@worldcoin) December 27, 2023

According to the blog post, the project’s expansion into Worldcoin indicates increasing adoption of the proof-of-private concept and increasing general acceptance of the project.

After reading the blog post,

“Individuals in Singapore can now verify their unique humanity on Orb in the latest sign of growing global interest in private proof and the Worldcoin project.”

In addition to launching its identity service in the Singapore market, Worldcoin also confirmed that lead developer Tools for Humanity (TFH) has joined ACCESS and the Singapore Fintech Association (SFA), Singapore’s most respected startup and technology associations.

WLD falls further from all-time high

On December 17, the overall market rally drove the price of WLD to an all-time high (ATH) of $4.70. However, the altcoin’s price is said to have fallen 24% since it was trading at $3.56 at the time of writing. CoinMarketCap.

The price drop is due to the continuous decrease in WLD accumulation after ATH was recorded. Reading the daily chart of the token shows that Chaikin Money Flow (CMF) has been trending downward since December 17th.

Source: WLD/USDT on TradingView

Located below the zero line at press time, the indicator showed a decline in liquidity flows into the WLD market. At a negative value of -0.05, WLD’s CMF shows that selling pressure is significant and is outpacing token accumulation.

Additionally, the decline in WLD’s Accumulation/Distribution Line (ADL) confirmed the decline in buying pressure since December 17th.

ADL measures the underlying supply and demand for an asset, and it does this by determining whether traders are actually buying or selling the asset.

Realistic or not, the market cap of WLD in ETH terms is:

A falling ADL usually means there are more investors selling an asset than buying it. This also confirms the downward price trend and suggests further declines are likely if sentiment does not improve.

At press time, WLD’s ADL was -$156.77 million, down 37% over the past 10 days.