After it became known that Worldcoin called a truce in Spain, the price of its token, WLD, experienced a new rise. Now, the currency is approaching the $5 barrier without being able to overcome it at the moment. However, this new bullish movement should not be completely interpreted as the beginning of a larger rally.
It should not be overlooked that this project faces problems with regulators around the world, which makes a bullish outlook difficult. Recently, Hong Kong authorities ordered the protocol to immediately stop its operations within that Chinese jurisdiction.
In any case, the project agreed with the Spanish Data Protocol Agency (AEPD) to stop its operations in the country. The stoppage of retinal scanning activities in the European country will last for one year, or until the investigations being carried out on the handling of protocol data are completed.
Worldcoin is a project that aims to create a global digital identity, as well as create a universal income. These goals set by the Tools for Humanity firm are presented as a form of escape from the harshness of AI. In fact, the so-called Proof-of-Personhood (proof of humanity) will allow digital creators to sign their projects and differentiate them from the creations of AI bots.
Worldcoin (WLD) price reacts, but it is not enough
As already mentioned, the price of the Worldcoin token, WLD, reacted positively to the agreement in Spain. However, the agreement does not seem to be enough to guarantee a more consistent rise in the price of the digital currency.
At the time of writing, the exchange value of the WLD token is $4.92 per unit. This represents a return of 0.12% within 24 hours and more than 4% within a week. During the last month ending this Friday, the currency shows a negative performance with -12.26%.
According to data from Messari, the price of the coin is at a distance of 57.85% from its all-time high of $11.71. This maximum price was reached in March, but was followed by a dramatic collapse that was related precisely to the controversy with Spanish regulators. At the time, the protocol appealed to the courts, but now the situation seems to change with an agreement.
An important aspect of this agreement with the Spanish agency is that it is subject to an investigation by the German BayLDA. According to the conclusions of that other agency, Worldcoin may or may not continue its operations in the Iberian country. If it has a positive outcome, the matter could lead the price of Worldcoin (WLD) to a new rally. Despite this, it seems like a matter that is quite distant in time.
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