ZachXBT Accuses Worldcoin of Harmful Token Model

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 4 days ago

Should l Buy WLD?

Token Model Controversy: ZachXBT has accused Worldcoin of employing a harmful token model tied to biometric data collection, suggesting its structure resembles tactics used by Sam Bankman-Fried and FTX, which could harm users and impact the project's reputation and trust.
User Recruitment Issues: The project is alleged to exploit vulnerable users in low-income regions by offering small token rewards in exchange for biometric data, leading to the emergence of black market transactions that undermine its claims of privacy and security, potentially affecting future user growth.
Token Sale Data: ZachXBT revealed that the World Foundation sold 85.45 million WLD tokens through FalconX at an average price of $0.293, totaling $25 million, raising concerns about token supply and insider selling that could impact market confidence.
Market Reaction: Following the allegations, the price of WLD tokens fell over 2%, trading near $0.25 with a 24-hour range between $0.25 and $0.26, indicating a decline in market confidence towards the project.

Get Real-Time Alerts for Any Crypto Movement

Monitor assets like WLD with instant alerts on price breakouts and whale movements. Don't let a 24/7 market leave you behind.

Technical Analysis for WLD

Technical Sentiment Analysis for Worldcoin (WLD). As of , Worldcoin (WLD) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for WLD stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, WLD is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Worldcoin (WLD) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.196	0.214	0.232	0.25	0.269	0.287	0.305
Fibonacci	0.214	0.227	0.236	0.25	0.264	0.273	0.287

About WLD

The mission of the Worldcoin project is to build the world’s largest identity and financial network as a public utility, giving ownership to everyone.The Worldcoin system revolves around World ID, a privacy-preserving global identity network. World ID enables users to verify their humanness online ('Proof of Personhood') while maintaining their privacy through zero-knowledge proofs.To engage with the Worldcoin protocol, individuals must first download World App, the first wallet app that supports the creation of a World ID. Individuals visit a physical imaging device called the Orb to get their World ID Orb-verified. Most Orbs are operated by a network of independent local businesses called Orb Operators. The Orb uses multispectral sensors to verify humanness and uniqueness, with all images being promptly deleted on-device per default (absent explicit consent to Data Custody).All Orb-verified World IDs holders are entitled to claim recurring grants of free WLD tokens (WLD tokens are not available in the US; see the Worldcoin Tokenomics section of the project's whitepaper for details). This has the potential to make WLD the most widely distributed digital currency.The WLD token is designed as a utility token with governance properties, empowering users by giving them a say over the future of the protocol. Beyond conventional 'one-token-one-vote' governance mechanisms, the introduction of World ID paves the way for 'one-person-one-vote' mechanisms. These two mechanisms can also be combined to enable new ways of governance. After launch, the Worldcoin Foundation will solicit proposals and work with the community on how World ID and the WLD token should interact in Worldcoin's governance model (see the project's whitepaper for details on governance and decentralization).The community of users will determine the token's utility, but a few other use cases in addition to governance could emerge. For example, users may decide to use the WLD token to pay for certain actions in World App or another wallet app, to make other payments, or to signal their approval for certain initiatives or causes.WLD is an ERC-20 token on Ethereum. Individuals will receive their user grants on Optimism Mainnet. Therefore, most WLD transactions will likely take place on the Optimism network.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

GET FREE REAL TIME NOTIFICATIONS

Stock Monitor for WLD?

Get Started Free

FREE STOCK RECOMMENDATIONS DAILY

Stock Bullish Tomorrow

Get Started Free

70% BACKTESTED ACCURACY!

Should I Buy WLD?

Get Started Free