Worldcoin recovers $2 as World ID gains wider adoption

• Worldcoin has reported the launch of World ID in Guatemala, Malaysia and Poland as interest in the proof of humanity grows.
• WLD is up over 18% in the last 24 hours as its price hit a high of $2.
• Worldcoin could see a correction as it prepares to release $74 million worth of new supply next week.

Worldcoin (WLD) surged on Wednesday as it launched its World ID solution in Guatemala, Malaysia and Poland. However, WLD may face a correction as investors anticipate a $74 million unlock event for the WLD token.

WLD rallies as World ID sees additional releases

Worldcoin has announced that World ID has gained wider adoption after launching in Guatemala, Malaysia and Poland. The releases were made this week, which means increasing requirements for human verification.

World ID is a permissionless protocol designed by the Worldcoin Foundation that helps users prove they are human online while maintaining their privacy. The protocol is already in use in regions such as the US, UK, Germany and India.

To boost human verification in the digital landscape, Worldcoin also announced the test launch of its new facial authentication feature last week. This function will verify the identity of the user based on the data previously stored on the orb.

WLD posted double-digit gains over the past 24 hours, extending weekly gains to 38%. The token reached the $2 price level for the first time since August, when its price dropped to $1.8.

WLD has seen increased volatility since reaching an all-time high of $12 in March. The asset’s price has fallen 88% since then, but is now showing signs of a strong recovery.

Coinglass data shows a 30% increase in open interest in WLD, indicating investors are becoming more confident in its bullish run.

However, the token may drop as it plans to inject $74 million worth of tokens into circulation next week. Heavy unlocks like this often cause prices to fall due to the heavy injection of supply without corresponding demand.

Worldcoin will witness the daily unlocking of 2 million WLD tokens until July 2028, after which 80% of its tokens will be released into circulation.