Worldcoin has surged 10% over the past 24 hours, driven by news of the World Foundation securing $135 million in funding to support its World ID project.
On May 21, the World Foundation announced a new round of fundraising to support the expansion of its iris-based digital identity project, World ID. The round was led by major investment firms Andreessen Horowitz and Bain Capital Crypto, both of which acquired Worldcoin (WLD) tokens at current market prices. This move has also contributed to an increase in the circulating supply of the token.
Worldcoin has now reached over 26 million users, with 12.5 million individuals verified through its Orb devices across more than 160 countries. The backing from these prominent institutions has added further legitimacy to the initiative.
Market reaction to the announcement has been notably positive. Daily trading volume has surged by 87%, exceeding $508 million, while derivatives trading has jumped by 112% to $879 million. Additionally, open interest has climbed 23%, now totaling $280 million, according to data from Coinglass. This sudden rise signals renewed interest from traders, following a prolonged period of decline. Despite the recent gains, WLD remains approximately 89% below its all-time high of $11.74, recorded in March 2024.
From a technical perspective, Worldcoin is showing signs of renewed strength. After rebounding from the $1.00 support level, the token has risen to $1.24, supported by increasing momentum and trading volume. This upward movement suggests growing bullish sentiment. The price is currently positioned above both its short- and mid-term moving averages, which are also trending upwards — a development typically viewed as a bullish indicator in market analysis.
The Relative Strength Index (RSI) is currently hovering just above 60, signaling that Worldcoin (WLD) still has room to grow before entering overbought territory. Meanwhile, the widening of the Bollinger Bands hints at increased volatility and the potential for a breakout. A key level to watch is the $1.30 resistance; if bulls manage to push past this zone, the next significant hurdle lies near $1.38.
From a fundamentals standpoint, the increased supply of WLD following the recent token sale presents both opportunities and risks. While a larger circulating supply can exert downward pressure on the price in the short term, the context of the sale matters. Unlike a typical venture capital sell-off, this distribution involved longtime supporters purchasing tokens at market value, which may help maintain market confidence.
Looking ahead, if Worldcoin successfully leverages the fresh capital to expand its World ID infrastructure particularly in regulatory-heavy markets like the United States it could secure a strategic position in the evolving landscape of digital identity, AI, and privacy.
Should bullish momentum continue, WLD could trade within the $1.37 to $1.50 range. A breakout above that band could trigger a sharper rally, especially if short positions start getting squeezed. On the downside, a loss of buying interest might push the token below $1.20, opening the door for a pullback to $1.10 or even $0.95.
