Worldcoin sets a new record; Will it be enough to keep WLD afloat?

• The project registered its highest single-day registration, thanks to Argentina.
• The total number of WLD holders decreased but social volume increased.

Worldcoin [WLD] has registered the highest WorldID sign-up in a single day, according to the project’s latest update. In its 31 August blogpost, Worldcoin said it was able to achieve the landmark in Argentina.

Realistic or not, here’s WLD’s market cap in ETH terms

Worldcoin finally gets a welcome

Unlike countries like France, Germany, and Kenya where Worldcoin has had to deal with privacy issues, Argentina was a welcoming nation. At the same time, this may not be surprising to those who are familiar with the crypto ecosystem in Argentina.

For a long time, the country has stamped itself as a friendly hub for crypto projects. Therefore, recording the highest Orb verifications for Worldcoin reinforced the notion that Argentina might remain a darling for crypto projects.

For context, Worldcoin introduced the Orb as a way for its users to get verified by using eye-scanning technology. In return, verified users get 25 WLD tokens. But before the milestone, Worldcoin’s co-founder Alex Blanis had specifically identified Argentina as a region where the project would thrive.

While speaking at the Ethereum [ETH] Argentina Mainnet stage, Blania praised the country for being one of the most forward-thinking nations crypto-wise. He said,

“People are much more sensitive and much more understanding of the fundamental principles of crypto in Argentina. It’s a combination of having a very technologically advanced country in general and then also a crypto-forward country specifically, which makes it an explosive building ground for the next wave of innovation in this space.”

No stopping the discrimination

Sadly, the hike in sign-up seems to be independent of the perception the broader crypto community has toward WLD. According to Santiment, Worldcoin’s weighted sentiment was -0.25. And the metric only jumped into positive territory once in the whole of August.

As a measure of the acumen toward an asset, an increase in weighted sentiment means a surge in bullish viewpoints. However, a negative value of the metric implies that commentary about WLD was more on the gloomy side than the optimistic one.

Source: Santiment

Furthermore, on-chain data showed that the total number of WLD holders had decreased. As of 28 August, the number was 587,000. But at the time of writing, it had fallen to 584,000, meaning about 3,000 WLD tokens had been let go.

How much are 1,10,100 WLDs worth today?

However, Worldcoin’s on-chain entirety did not languish in the negative zone. One area where the project flourished was in terms of social volume. This metric is built on top of social data. So, the increase on 30 August implied that the search for WLD increased.

Source: Santiment

But regarding Worldcoin’s market cap, Santiment showed that it had decreased significantly. At press time, WLD’s market cap was $153.44 million. The decrease means that WLD’s value was from the height it was when it launched. Also, circulation has remarkably reduced.