Worldcoin (WLD) Price Prediction: Will the Ecuador and Kenya Expansions Spark a Price Reversal?

Worldcoin [WLD] has faced a rough market environment of late. Its strategic expansions in Ecuador and resumption in Kenya could be critical for a price reversal.

Worldcoin [WLD] encountered a rough market environment. However, its strategic expansions in Ecuador and resumption in Kenya could be critical for a price reversal.

Recently, Worldcoin’s price broke below a key trend line support level. Its prices were dropping until the grand announcement.

At press time, CoinMarketCap priced WLD at $2.99, a 1.01% drop in the last 24 hours and a 13.69% decrease in the last seven days.

Ecuador embraces Worldcoin’s vision

On 26 June, Worldcoin will begin its World ID orb verification across six locations in Ecuador’s major cities, Guayaquil and Quito.

This move will allow Ecuadorians aged 18 and above to join the growing Worldcoin network, which already boasts 5.7 million participants worldwide.

The timing couldn’t be better, as recent surveys by Tools for Humanity (TFH) revealed a strong local support for technologies that can distinguish between humans and bots online.

This aligns perfectly with Worldcoin’s mission to combat digital fraud and create a more secure online ecosystem.

Kenya clears the path as well

In a parallel development, Worldcoin has received the green light to resume operations in Kenya after a year-long hiatus.

The Directorate of Criminal Investigations (DCI) has closed its investigation, paving the way for the project’s comeback.

However, Worldcoin must still navigate regulatory requirements, including proper business registration and vendor vetting.

What do metrics say?

AMBCrypto analyzed Santiment’s active addresses and circulation data to examine if these mega announcements have brought about any significant changes in WLD prices. Notably, the Active Addresses spiked in recent days.

This could be attributed to the renewed investor interest sparked by the adoption news.

Furthermore, the circulation data also witnessed several spikes that might indicate bullish momentum.

Worldcoin has seen some serious moves recently, evident in Coinglass’ liquidation data.

The data showed that several short positions were liquidated around mid-February and early March.

This liquidity suggested that investors are betting against the price movements heavily.

With this liquidity, the price may shoot higher to clear long positions if enough bullish pressure accumulates.

News source：https://www.kdj.com/cryptocurrencies-news/articles/worldcoin-wld-price-prediction-ecuador-kenya-expansions-spark-price-reversal.html

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