July 26, 2023
By Sharan Kaur Phillora
In a major development in the cryptocurrency market, several prominent crypto exchanges have swiftly announced their listing of Worldcoin’s cutting-edge WLD token. Among the first exchanges to embrace the digital asset is Binance, the largest exchange by trading volume.
Here’s what we know:
Participants in Worldcoin’s beta phase, who were fortunate to receive WLD tokens, can also deposit their tokens on Binance, which recently enabled this feature. Excitingly, Binance plans to extend support for leveraged trading on the WLD token through its isolated margin feature.
The much-anticipated token’s trading commenced on ByBit two hours ahead of Binance’s scheduled launch, with an initial price of $0.3 per coin. However, within just fifteen minutes, the price surged remarkably, reaching highs of $2.79 per coin.
CoinGecko’s data reveals that the total token supply amounts to a substantial 10 billion tokens. At the current trading prices, this places the WLD token’s fully diluted value at an impressive $25.6 billion as of press time.
The WLD token is built on the Ethereum blockchain, utilizing the popular layer-2 scaling solution Optimism, which facilitates faster and cheaper transactions for users.
Notably, Worldcoin is the brainchild of Sam Altman, renowned as the CEO of OpenAI. The cryptocurrency project is designed as a decentralized identity and payment protocol, boasting a unique authentication system that scans users’ eyes for verification.
To engage users and incentivize adoption, the project generously awarded WLD tokens to beta testers of the World App. Participants underwent a secure biometric verification process using one of the project’s numerous “orb” machines, leading to the creation of their World ID on the application and subsequent receipt of WLD tokens.
In addition to Binance and ByBit, other prominent exchanges have followed suit. OKX has already started accepting WLD deposits and is poised to commence spot trading soon, stating they will meet the necessary deposit requirements.
As the cryptocurrency world eagerly embraces Worldcoin’s WLD token, the eyes of investors and enthusiasts remain fixed on its future trajectory, awaiting more exciting updates in this rapidly evolving space.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.