Worldcoin Raises $135M, Token Surges 147% on Institutional Backing

Worldcoin, a cryptocurrency project, has recently garnered significant attention due to a substantial investment round. The Worldcoin Foundation successfully raised $135 million by selling WLD tokens to prominent investors, including Andreessen Horowitz and Bain Capital Crypto. This funding round was notable for its direct purchase of liquid WLD tokens at market price, without any discounts or lock-up periods. The capital raised will be used to expand the project's iris-scanning Orb hardware in the United States and to support global network growth. The Worldcoin Foundation aims to position the project as a proof-of-personhood solution, designed to counter advances in artificial intelligence.

The investment by Andreessen Horowitz and Bain Capital Crypto is seen as a high-conviction signal from institutional investors. This comes after WLD reached significant lows, with the token trading as low as $0.57 earlier this year. The funding round is expected to help the network become one of the first self-sustaining protocols, with over 26 million users participating in the World network and over 12.5 million people having obtained Orb-verified World IDs through the biometric identity verification process.

Worldcoin's recent surge in price and trading volume has been driven by strong technical indicators and on-chain confirmation. The token's price had been trending upward before the funding announcement, breaking through the $1 psychological resistance level in late April. Technical indicators such as the On Balance Volume trending higher over the past two months suggest accumulation by buyers. The Relative Strength Index reached 72 on the daily chart, marking the first entry into overbought territory in nearly two weeks. The rapid rally has pushed WLD above the $1.4 resistance level, but overbought conditions suggest a potential pullback may occur.

Traders looking to enter long positions may want to wait for a retracement to the $1.4 level or deeper to $1.32. The weekly chart shows WLD rebounding from $0.57 lows and approaching key moving average resistance levels. The bullish structure holds as long as the price remains above $1.45. Resistance lies at $1.70 and $1.96, with $2.00 acting as the next major breakout threshold. A drop below $1.33 would weaken the trend and expose downside to $1.10.

Supporting indicators echo this strength. The Relative Strength Index at 71.44 reflects sustained bullish momentum, the MACD remains in a positive crossover, and both OBV and CMF (+0.10) show steady accumulation. Open interest in WLD futures climbed from $320.28 million on February to $412.77 million by May 23, a 4-month high and a 28.9% increase, confirming steady capital inflow into leveraged long positions. The BBTrend, which tracks directional strength using Bollinger Band volatility, surged to +22.77, signaling a shift from sideways compression to directional expansion. The BBTrend w/ SuperTrend Strategy also flipped bullish, moving from -49.05 in March to +15.32 in May. SuperTrend adds a dynamic trend-following signal based on ATR, turning upward during bullish phases and downward during bearish moves, making it a reliable visual cue for trend validation. No exit signal has appeared, confirming trend continuation.

Worldcoin's recent developments and the significant investment round have positioned the project for further growth and expansion. The project's focus on biometric identity verification and its potential as a proof-of-personhood solution in the AI age make it a compelling player in the cryptocurrency space. With strong institutional backing and a growing user base, Worldcoin is poised to continue its momentum and potentially achieve further price gains in the coming weeks.