Worldcoin Under Criticism: Hyperinflation Forecast, Price Slipping

Worldcoin (WLD) has suffered a loss of almost 20 percent this week. The price slide began when a crypto expert calculated how hyperinflation would be imminent for Worldcoin from July. WLD already at the end?

Worldcoin’s price curve has buckled by almost 20 percent

Worldcoin (WLD) has been making headlines since its inception in 2021. The project aims to use iris scans to organize digital identities and reward participants with their own cryptocurrency. Worldcoin celebrated its stock market debut in the summer of 2023 and WLD has since fought its way into the 100 most important altcoins; the current market capitalization is around 1 billion US dollars. But now there’s a setback: Worldcoin’s price curve has buckled by almost 20 percent since the beginning of the week and the fall in WLD’s price is based on an analysis published on X by DeFi Squared.

The well-known crypto trader has taken a closer look at what will happen to Worldcoin in the next few months. So far, only a good 2 percent of all WLD are in circulation, but from July Worldcoin, which was reserved for the team and early investors and provided with a time lock, will be activated. According to DeFi Squared, a situation then arises where daily inflation of 4 percent occurs. 0.6 percent daily inflation must already be taken into account in WLD. In addition, the Worldcoin Foundation wants to sell WLD to trading companies for $200 million at a discount, which is likely to create additional price pressure.

DeFi Squared judges: Worldcoin ensures the redistribution of wealth, but not in the direction of an unconditional basic income, as the project suggests. Instead, WLD lines the pockets of insiders and follows the concepts of other questionable crypto projects that in the past had a home in Sam Bankman-Fried’s defunct FTX empire, according to DeFi Squared. He also reminds that the famous Sam Altman is no longer actively involved in Worldcoin. Altman is CEO at OpenAI (ChatGPT) and was part of the founding team of Worldcoin. Contrary to popular opinion and PR materials, Worldcoin never intended to link it to artificial intelligence, Altman’s special topic, emphasizes DeFi Squared.

Conclusion: Worldcoin about to crash?

Highly respected crypto detective ZachXBT succinctly comments on DeFi Squared’s analysis with “Send this scam (Worldcoin) to zero in a hurry.” He had already given WLD a scathing assessment on X in July last year . Meanwhile, the Worldcoin team does not address DeFi Squared’s calculations, which probably indirectly confirms their correctness. Investors are now warned about WLD, because Worldcoin is likely to have a hard time dealing with impending hyperinflation and sales.

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(Featured image by sergeitokmakov via Pixabay)

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