Regulatory Worries Plunge Worldcoin (WLD) Price by 47% in a Month

• WLD is now trading at $1.27 and is down 4.27% in the last 24 hours.
• The value of its WLD token has fallen as a result of the increased scrutiny from regulators.

Around 47% of Worldcoin’s (WLD) price has been wiped out in the last 30 days due to regulatory worries. Data from CMC shows that the price is now trading at $1.27 and is down 4.27% in the last 24 hours. Since the introduction of Worldcoin, authorities from all around the globe have voiced worries about the security of users’ personal information.

Santiment, an on-chain data aggregator, reports that WLD’s social volume and social dominance have decreased by 95% and 74%, respectively, during the previous 30 days. This points to a significant decline in interest.

Increased Regulatory Scrutiny

According to a statement issued on July 31 by the U.K’s Information Commissioner’s Office, regional authorities plan to look into Worldcoin due to data privacy concerns. The Kenyan government stated on Facebook on August 2 that Worldcoin will be temporarily shut down while the government conducts a risk evaluation.

The value of its WLD token has fallen as a result of the increased scrutiny from regulators. The token’s social activity has decreased dramatically over the last month, implying that its popularity has drastically declined.

As concerns about regulations have grown, so has the everyday need for WLD. There has been a consistent declining trend in the daily count of addresses generated to trade WLD since July 26th, dropping by 98%.

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