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Worldcoin Plummets 40%, Regulatory Scrutiny Looms Large

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• Worldcoin [WLD], a blockchain project backed by Sam Altman, has seen a significant decline in user interest since its debut last month.
• The global number of WLD holders plateaued, with only 900 addresses added since the beginning of August.
• WLD’s fully diluted market cap has dropped significantly to $14.98 billion, due to internal issues and broader market meltdown.

Worldcoin Price Drops Sharply Amid Continuing Concerns

The blockchain project Worldcoin [WLD] saw a sharp drop in user interest since its much-hyped launch last month. As of writing, the fully diluted market cap for WLD has gone down to $14.98 billion from its initial value of $10 billion, due to various factors such as concerns over data privacy and mining, as well as the broader crypto market meltdown.

Number Of Global Worldcoin Holders Plateauing

The global number of WLD holders has plateaued since the beginning of August, with only 900 new addresses added so far – this indicates that user interest is waning despite the coin’s promising start.

Price Drop Highlights Worries Around Data Privacy

The price of WLD tokens have dropped by more than 40%, which further highlights worries around data privacy and other issues inherent to its ecosystem. The objective behind creating this public utility was to give ownership to everyone; however, due to these issues it has become entangled in the broader crypto market downturn instead.

Investigations Launched Into Legality Of Worldcoin

Countries like Kenya and Argentina have launched investigations into the legality of Worldcoin’s usage due to their concerns about data privacy and security regarding users’ biometrics data collection process for issuing tokens. This regulatory scrutiny may cause even further drop in user interest if addressed improperly or not at all.

Conclusion

In conclusion, Worldcoin continues to face difficulties amidst declining user interest and regulatory scrutiny surrounding their token issuance process involving biometric data collection from users worldwide . Despite some recovery from its dip during trading hours on Thursday , there remain many questions yet unanswered for this promising project before it can truly take off again .