- Worldcoin’s WLD token has crashed after initial hype as active wallet addresses plunged 94% since launch per data from IntoTheBlock.
- New user growth evaporated after launch as Worldcoin struggles to attract retail interest amid privacy concerns around facial scanning.
- Whales continue accumulating WLD but without renewed retail momentum Worldcoin’s bold vision risks becoming a ghost town network post-launch
Worldcoin’s ambitious vision to build a global digital identity platform secured ample media hype, but retail demand for its WLD token tells a less enthusiastic story.
According to IntoTheBlock, Worldcoin started strong with 2,270 active wallet addresses shortly after its July launch. However, active addresses crashed by 94% to just 137 by August 31st. This stark decline aligns with the WLD price slump.
New wallet creation also plunged 98%, from 2,260 at launch to only 50 in late August. This suggests faltering retail adoption is weighing on Worldcoin.
While retail investors flee, whales are doubling down, per Santiment. Addresses holding 1M to 100M WLD added 5.04M tokens last week worth $6M. Yet without renewed retail interest, WLD’s price remains vulnerable.
Worldcoin struggles to bring in new users
The data indicates Worldcoin is struggling to attract new users given privacy concerns around its facial scanning requirement. Unless it can rebuild momentum, WLD may break below $1 as bears take over. Already, 90% of holders are at a loss.
Upside potential remains if whales ignite a bull run, with support around $0.66, where early buyers accumulated. But declining retail activity will likely drag WLD down without a sentiment shift.
For now, Worldcoin’s bold vision is sputtering as real-world demand falls short of expectations. The project secured immense hype but was unable to sustain retail interest beyond the initial launch. This lack of network usage has become a burden on WLD’s price.
Whales are still betting big on Worldcoin’s future through major token purchases. However, data shows individual investors abandoning the project in droves. With privacy concerns lingering and incentives unclear, Worldcoin has struggled to attract new retail users.
Unless the project can reinvigorate momentum and rebuild its user base, the WLD token will remain on shaky ground. For Worldcoin’s lofty goals to materialize, it needs to convert hype into sustainable real-world value. So far, the data suggests it is falling well short as a ghost town network takes shape post-launch.