Worldcoin price jumps as World Assets offloads $135M in WLD tokens to early backers

Worldcoin (WLD) has joined the ongoing crypto rally despite regulatory challenges that have hindered growth for the iris-scanning digital asset project.

While Bitcoin explores historic highs above $110K, WLD exhibits a bullish structure, catalyzed by the latest sale of $135 million worth of tokens by World Foundation’s subsidiary World Assets.

Notably, early supporters, including Bain Capital Crypto and a16z (Andreessen Horowitz), purchased the tokens.

The announcement indicated that the funding will offer Worldcoin financial support to bolster its global expansion after its latest entry into the United States.

Moreover, the latest move comes after previous investments from leading companies like Selini Capital, Artic Digital, and Miran Ventures, confirming impressive institutional appetite for Sam Altman’s project.

Notably, Worldcoin remains in pursuit of its objective of introducing internet-verified biometric identification, a narrative that has attracted limitations in multiple jurisdictions.

Recently, Kenyan regulators directed the AI project to suspend its operations in the country and delete the collected biometric data.

Worldcoin’s biometric device, Orb, which scans irises to generate unique user IDs, has attracted controversy globally.

Individuals can use the IDs to partake in the WLD ecosystem, verify their uniqueness, and access different online services.

Despite setbacks from surveillance and privacy concerns, the AI project continues to onboard users.

Worldcoin will use the latest funding to support biometric data collection and issue World IDs.

WLD price outlook

The alt jumped from the 24-hour low of $1.103 to $1.2536 (a 13.65% increase) hours after the funding news.

WLD trades at $1.24 after brief corrections from its daily high, though still 11% up on its 24-hour timeframe.

Its trading volume has increased by 92% within the past day, signaling renewed trader and investor interest in the altcoin.

The bullish outlook suggests a positive reaction due to institutional backing and capital inflow.

These elements could support Worldcoin’s long-term growth.

Nevertheless, WLD should reclaim $1.30 to change its short-term outlook to bullish.

A candlestick closing above this mark could support rallies to $3.30 before extending to $3.60.

That would mean a 190% surge from current prices.

Meanwhile, the $3.30 - $3.60 resistance will likely catalyze near-term pullbacks.

That could print a "classic" head and shoulders formation, setting the grounds for bullish continuation.

Nonetheless, intensified regulations could halt the projected uptrend.

In the near term, the altcoin should stabilize above $1.30 for extended rallies.

Broad market sentiments would be vital for shaping WLD’s trajectory in the upcoming sessions.

Bitcoin trades at record highs, and analyst Ali Martinez anticipates continued upswings as the top crypto enters a price discovery phase.

BTC bulls target the $116K mark to open the gates towards the $126K zone.

That could propel the bellwether digital token to $136K and $148K, a 33% upswing from the current price of $111,475.