Worldcoin Soars 185% as Wallet Users Top 1 Million

The controversial biometric crypto project Worldcoin (WLD) has surged by nearly 185%, setting a new all-time high. This surge coincides with the project’s announcement that its World App wallet has surpassed 1 million daily users.

Eye-Scanning Technology

Worldcoin uses a helmet-shaped device called the Orb to scan people’s eyes and verify their identity. Users must download the Worldcoin app, obtain a crypto wallet, and visit an Orb to receive their World ID.

Privacy Concerns

The project has raised privacy concerns, as it collects eye scans for identification. However, Worldcoin claims that the scans are encrypted and not stored on its servers.

Alameda Research’s Involvement

Alameda Research, the former trading arm of bankrupt crypto exchange FTX, holds a significant amount of WLD tokens. This holding has contributed to the recent surge in the token’s price.

Market Performance

WLD is currently trading at $7.40, up from $2.60 one week ago. It has set a new all-time high of $7.95 on Monday morning. Despite a slight retracement since then, WLD remains up nearly 22% in the past 24 hours.