Worldcoin, the ambitious cryptocurrency project co-founded by OpenAI’s Sam Altman, has soared past a major milestone. On April 11, 2024, Tools for Humanity (TFH), the organization behind Worldcoin, announced that the World App wallet now has 10 million users.
This rapid growth raises questions about whether the project can maintain momentum as it faces increasing regulatory scrutiny.
Worldcoin’s World app is rapidly growing in users despite regulatory issues.
Worldcoin also noted the app’s impressive expansion. Launched in May 2023, the World App had reached 4 million downloads by November and now boasts users in more than 160 countries. It processes over 70 million wallet transactions and has 2 million daily active users.
Tiago Sada, head of product at TFH, said the journey was about more than just numbers.
Read more: 5 Best Worldcoin (WLD) Wallets for 2024
“We are of course very excited about the milestone, but even more so about the real-world impact it represents,” says Sada. explained.
He emphasized that the success of the World App is a testament to years of groundwork on an Ethereum infrastructure that is now accessible and user-friendly. Worldcoin’s website also states growth, with the World ID platform now having nearly 5 million subscribers due to increased interest.
However, this achievement contrasts with the challenges Worldcoin faces from regulators around the world. Enforcement actions in several countries suggest authorities are concerned about the project’s methods and the far-reaching impacts it could have.
BeInCrypto recently reported that several countries, including Kenya, Spain, and Portugal, have asked Worldcoin to cease operations within their territories. These jurisdictions have expressed unified concerns about Worldcoin’s practices of collecting biometric data from users.
While World App’s user metrics suggest a burgeoning ecosystem, the financial performance of Worldcoin’s native token, WLD, tells a different story. Over the past week, WLD has fallen 3%, trading at $6.51 at press time.
Read More: World Coin (WLD) Price Prediction for 2024/2025/2030
This decline was noted by analysts at BeInCrypto, who warned that without continued buying pressure, WLD’s price could fall below the critical support level of $6, invalidating the recent bullish trend.
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